Markets Wired

Earlier today, Deputy Secretary of the Treasury Wally Adeyemo met with representatives from 11 non-governmental organizations (NGOs) engaged in global humanitarian aid and activities to discuss Treasury’s shared interest in ensuring that U.S. sanctions are thoughtfully calibrated to target malign actors and activity while balancing essential humanitarian activities and protecting the U.S. financial system. As the leader of Treasury’s sanctions review, the Deputy Secretary sought feedback from the group on identifying successes and opportunities for improvements so that Treasury’s implementation and enforcement of sanctions is relevant, rigorous, and fit to purpose, effectively advancing the national security, foreign policy, and economic aims of the United States.

Participants shared constructive feedback on the complex balance of continuing humanitarian activities in sanctioned jurisdictions to support populations most in need, particularly in situations of protracted conflict.  The Deputy Secretary explained that the sanctions review is closely evaluating feedback and concerns related to the impact of sanctions on humanitarian relief and refugee aid, human rights, corruption, persecuted minority communities—including LGBTQ people—and diaspora communities, among other important humanitarian and policy considerations.

The meeting was part of a robust series of engagements with internal and external stakeholders to develop a fulsome understanding of the expectations and impacts of the gamut of U.S. economic and financial sanctions and ensure a diverse set of views is taken into account. This includes engagements with the private sector, civil society organizations, Congress, foreign partners, and other U.S. government agencies involved in sanctions development and implementation.

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