WASHINGTON – Today, the Financial Action Task Force (FATF), the international standard-setting body on illicit finance, suspended the Russian Federation from its membership. This is the first time in the FATF’s 34-year history that the body has taken such unprecedented action, a step warranted by Russia’s unlawful, immoral, and unprovoked war against Ukraine. FATF members […]
Category Archives: U.S. Treasury
Targeting Key Sectors, Evasion Efforts, and Military Supplies, Treasury Expands and Intensifies Sanctions Against Russia
Actions Taken in Coordination with G7 Metals and Mining Determination Enables Targeting of Putin Revenue Source Wide Array of Evasion-Related Targets Exposed WASHINGTON – Today, one year after the Russian Federation launched its unprovoked war against Ukraine, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking significant action to diminish […]
Agencies Issue Joint Statement on Liquidity Risks Resulting from Crypto-Asset Market Vulnerabilities
Federal bank regulatory agencies today issued a joint statement highlighting liquidity risks to banking organizations associated with certain sources of funding from crypto-asset-related entities and some effective practices to manage those risks. Recent events in the crypto-asset sector have underscored the potential heightened liquidity risks presented by certain sources of funding from crypto-asset-related entities. The […]
Treasury Announces Approval of Up to $339 Million to Support Small Business Success Across Three States and Two U.S. Territories
These State Small Business Credit Initiative funds are awarded to Arkansas, Guam, Rhode Island, the U.S. Virgin Islands, and Wisconsin to support local small business financing and investment programs WASHINGTON — Today, the U.S. Department of the Treasury announced the approval of five additional state and territory plans for up to $339 million in funding […]
Statement from Secretary of the Treasury Janet L. Yellen on the Nomination of Ajay Banga to Lead the World Bank
“I applaud President Biden’s decision to nominate Ajay Banga to lead the World Bank. He has the right leadership and management skills, experience living and working in emerging markets, and financial expertise to lead the World Bank at a critical moment in its history, deliver on its core development goals, and evolve the Bank to […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Finance Minister of Indonesia Sri Mulyani Indrawati
BENGALURU – Today, U.S. Secretary of the Treasury Janet L. Yellen met with Indonesian Finance Minister Sri Mulyani Indrawati. During their meeting, Secretary Yellen thanked Minister Sri Mulyani for Indonesia’s continued engagement on the issue of debt vulnerabilities among some emerging and developing economies, and discussed the urgency for accelerated efforts through the G20 to […]
Transcript of Press Conference from Secretary of the Treasury Janet L. Yellen in Bengaluru, India
As Prepared for Delivery Good afternoon, everyone. Thanks for being here. I’m looking forward to a productive set of meetings in Bengaluru over the next couple of days. I’d first like to thank Finance Minister Nirmala Sitharaman for her leadership of the G20 during India’s presidency. Tomorrow is the one-year mark of Russia’s illegal […]
READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with Finance Minister of India Nirmala Sitharaman
BENGALURU – Today, U.S. Secretary of the Treasury Janet L. Yellen met with Finance Minister of India Nirmala Sitharaman. Secretary Yellen stressed the United States’ support for India’s G20 presidency and thanked Minister Sitharaman for her hospitality. The Secretary discussed cooperation on the evolution of multilateral development banks, encouraged strengthened health-finance coordination, and thanked India […]
Treasury Sanctions Sinaloa Cartel Network of “Super Lab” Suppliers and Fentanyl Operators
WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated six Mexican nationals and Sinaloa Cartel members involved in the illicit methamphetamine and fentanyl trade as well as six Mexico-based entities pursuant to Executive Order (E.O.) 14059. Led by brothers Ludim Zamudio Lerma and Luis Alfonso Zamudio Lerma, this […]
READOUT: Deputy Secretary of the Treasury Wally Adeyemo, Treasurer Chief Malerba Meet with Tribal Youth Delegation
WASHINGTON – Today, the U.S. Department of the Treasury hosted a Tribal youth delegation from the Center for Native American Youth (CNAY), a national education and advocacy organization that works alongside Native youth to improve their health, safety, and overall well-being. During the event, Deputy Secretary of the Treasury Wally Adeyemo, Treasurer of the U.S. […]