US Treasury official in China trip on Iran

AFP – A top US Treasury official will visit Hong Kong and China this week to discuss measures to prevent Iran from obtaining financing for its illicit nuclear and weapons program, the Treasury said Monday.

David Cohen, Treasury under secretary for terrorism and financial intelligence, will travel Monday through Wednesday to meet with senior government officials and private-sector lenders.

"His visit will highlight the importance of close cooperation and coordination with China on efforts to combat the financing of weapons proliferation and other measures to protect the integrity of the international financial system," the department said in a statement.

Cohen is to discuss the international community's "shared interest" in preventing Iran from tapping the global financial system for weapons programs.

He will also consult with officials on sanctions against North Korea.

In Hong Kong, Cohen will also emphasize the need to protect shipping companies and exporters from the increased risk of engaging in business with Iran?s national maritime carrier, the Islamic Republic of Iran Shipping Lines.

The UN Security Council 1737 Sanctions Committee has noted that IRISL has been involved in several violations of UN Security Council resolutions on Iran.

Cohen's trip was billed as a continued awareness-raising effort to remind governments and the private sector Iran that foreign financial institutions that do significant business with individuals or entities targeted by US sanctions will lose access to the US financial system.