20 June 2004
U.S. Working With Saudis to End Terrorist Financing, Snow Says
Treasury secretary discusses terrorist financing,
By Todd Bullock
Washington File Staff Writer
The United States is working closely with Saudi Arabia to end
the flow of financing to terrorist organizations like al Qaeda,
according to Treasury Secretary John Snow.
"Over the course of the last year, Saudi Arabia has taken a number
of really important steps. I am convinced they are sincere and
deeply committed about this effort," Snow said in an interview
June 20 with CNN's Wolf Blitzer.
The Treasury secretary noted that the Saudi government has changed
the way its charities operate so that cash transactions cannot
flow through charities to terrorist groups.
When asked if there was more that Saudi Arabia could do to end
the flow of terrorist financing, Snow responded, "They need to
strengthen their law enforcement efforts and their efforts to investigate
terrorist flows and interdict them."
Snow also told Blitzer that the United States has a team of enforcement
personnel in Riyadh working closely with Saudi authorities to penetrate
any networks that might be the source of terrorist financing.
"They are very serious and committed in trying to wipe out the
flow of terrorist monies and monies going to al Qaeda," Snow said.
When asked about the effect of outsourcing (U.S. companies moving
jobs abroad) on the U.S. economy, Snow said, "We are five percent
of the world's population, which means that 95 percent of our customers
lie outside the U.S. The last thing we can do is to turn our back
on the rest of the world, and the last thing we should do is to
do anything that smacks of economic isolationism."
Secretary Snow also discussed the U.S. domestic economy with Blitzer.