The U.N. Security Council has
dropped Youssef Nada, a prominent financial and diplomatic representative of the Muslim Brotherhood, from an international sanctions list directed at curbing the activities of alleged terrorist financiers.
The delisting of Nada, by the Al-Qaida and Taliban Sanctions Committee, was announced by an official notice posted on the Security Council’s Web site. In addition to Nada himself, the notice declares that two businesses associated with him, Waldenberg AG of Liechtenstein and Youssef M. Nada & Co. GMBH of Vienna, also have been removed from the U.N. sanctions list.
The Security Council’s announcement does not explain why the Council decided to drop financial sanctions against Nada and his companies.
Victor Comras, a former adviser on financial sanctions to the U.S. State Department and, later, an adviser to the committee that produced the sanctions lists, says he find the U.N. action troubling. When Nada was put on the U.N. sanctions list, it was done with great public fanfare, Comras said. But when the U.N. decided to take his name off, it was done with a minimum of public discussion.
In an e-mail, Comras added:
“Even though Nada may no longer be involved in funding Al Qaeda, he has made it clear a number of times that he will continue as a major financial supporter of Hamas . . . As you know, Nada never really suffered from the [U.N. listing]. He continued to live well, travel, and, most likely, to access and manipulate his assets through his family and others.”
Comras also noted that given the fact that all listing and delisting decisions by the U.N. sanctions committee have to be unanimous, at some point, in his view, the Obama administration would have had to signal that it was willing to go along with Nada’s delisting. Nada and his companies were placed on a terrorist-finance sanctions list maintained by the U.S. Treasury before they were added to U.N.’s list; according to the list currently available on the Treasury Department’s Web site, Nada and his companies are still on it.
The Bush administration added Nada, his companies, and a key business associate to the U.S. terrorist-finance sanctions list in the wake of 9/11 after examining intelligence suggesting that a network of Islamic investment companies called Al-Taqwa, based in Switzerland, Liechtenstein, and the Bahamas, had handled money for people believed to be associates of Osama bin Laden.
A European diplomat, who also asked for anonymity, suggested that the U.N.’s decision to drop Nada from its sanctions list may have been prompted by recent political developments in Switzerland. Earlier this month the Swiss Parliament’s foreign-relations committee approved a proposal to create a mechanism under which the Swiss government would have to stop enforcing international financial sanctions against people on the U.N. list in circumstances where little had been proved against them. Swiss authorities conducted their own lengthy criminal investigation of Nada and his financial network but ultimately “suspended” it without issuing any criminal charges.