"It is important that the United States join other members of the Financial Action Task Force by supporting compliance with the international standards that have been established. The Financial Action Task Force is the leading international organization for combating money laundering, and these designations should be taken very seriously. Neither Nauru nor Ukraine has been willing to take the necessary steps to meet established international standards. If we are going to maintain a safe and reliable financial system, we cannot tolerate jurisdictions who choose to ignore international standards. And if a jurisdiction chooses to ignore repeated international warnings, then they should expect an appropriate response.
"I am also pleased to see the use of the sanctions authorized under section 311 of the USA PATRIOT Act. These measures were designed to provide an appropriate level of response to jurisdictions who choose to facilitate illegal transactions. With these designations we are taking steps to eliminate financial safe havens for drug traffickers, terrorists, and tax cheats."