Treasury News
Treasury
Thank you, Minister Haddad, for hosting these meetings and thanks to all of you for being here today. Before taking your questions, I would like to step back and recognize President Biden for his leadership. Over the past three and a half years, he has driven a remarkable economic recovery and strong economic growth at home and restored America’s standing in the world, enabling progress on many of the priorities I’ll be focused on in Brazil this week. I am deeply proud to serve the American people with him and Vice President Harris and I look forward to continuing to advance...
Treasury
Yellen meets with Gentiloni at G20 to discuss economic issues and Ukraine support
Secretary of the Treasury Janet L. Yellen met with European Commissioner for Economy Paolo Gentiloni on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Rio de Janeiro, Brazil, today. During their discussion, Secretary Yellen praised Commissioner Gentiloni for the EU economy's continued strength, noting slowing inflation and a robust labor market.
Treasury
U.S. imposes sanctions on rebel alliance driving instability in Democratic Republic of Congo
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on the Congo River Alliance, known by its French name Alliance Fleuve Congo (AFC), a coalition of rebel groups aiming to overthrow the government of the Democratic Republic of Congo (DRC). The AFC is identified as a significant driver of political instability, violent conflict, and civilian displacement in the region. The primary member of AFC is the March 23 Movement (M23), an armed group with a history of destabilizing North Kivu province and committing human rights abuses.
Treasury
Yellen discusses global economic issues with Italy’s finance minister at G20 meeting
Secretary of the Treasury Janet L. Yellen met with Italy’s Minister of Economy and Finance Giancarlo Giorgetti today in Rio de Janeiro on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting. The discussion highlighted several key global economic issues, including support for Ukraine amid ongoing conflict, and concerns over Chinese industrial capacity.
Treasury
Yellen discusses key global issues ahead of meeting with UK's Chancellor Reeves
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Treasury
Yellen announces US pledge at pandemic fund investment case launch event
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Treasury
United States pledges up to $667 million for pandemic prevention fund
The United States has announced a planned contribution of up to $667 million to the Pandemic Fund, aimed at supporting pandemic prevention, preparedness, and response. This announcement was made by Secretary Yellen during the Pandemic Fund Investment Case launch event, held alongside the G20 Finance Ministers and Central Bank Governors meeting.
Treasury
Interagency team releases report on reducing administrative burden for tribal grant recipients
In a new report, an interagency team identifies barriers to compliance in post-award reporting and offers solutions shown to be effective in a pilot project.
Treasury
New Jersey joins IRS Direct File program under Biden's Inflation Reduction Act
New Jersey to offer free IRS tax filing in 2025 under Biden's Inflation Reduction Act
Treasury
U.S. Treasury targets Chinese network aiding North Korean missile program
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a network of six individuals and five entities based in the People’s Republic of China (PRC). These sanctions target those involved in procuring items to support the Democratic People’s Republic of Korea’s (DPRK) ballistic missile and space programs. The DPRK has continued its ballistic missile launches, including a recent failed attempt to place a military satellite into orbit in May 2024, violating multiple United Nations Security Council Resolutions (UNSCR).
Treasury
Yellen addresses joint ministerial meeting on global alliance against hunger
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Treasury
Treasury implements new reporting requirement under REPO for Ukrainians Act
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a new reporting requirement for financial institutions holding Russian sovereign assets, as part of implementing the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (REPO for Ukrainians Act). According to section 104(a) of the REPO for Ukrainians Act, all financial institutions that hold or are aware of Russian sovereign assets must notify OFAC by August 2, 2024, or within 10 days of detecting such assets. The notification can be submitted using OFAC’s new form.
Treasury
Treasury releases annual report highlighting CFIUS's activity and efficiency
The Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), released its Annual Report to Congress for calendar year 2023.
Treasury
U.S targets key financiers linked with expanded ISIS activities across African regions
The United States has taken action against a network of three individuals associated with the expanded activities of the Islamic State of Iraq and Syria (ISIS) on the African continent. These individuals serve as key financiers and trusted operatives, enabling ISIS activities across Central, Eastern, and Southern Africa. They also act as critical links between ISIS operations in the Democratic Republic of the Congo (DRC), Mozambique, Somalia, and South Africa, allowing ISIS leadership to leverage each affiliate’s capabilities to conduct terrorist attacks that undermine...
Treasury
U.S. officials visit Penobscot Nation to discuss historic investments
Indian Island, ME – On July 23, 2024, U.S. Treasurer Chief Lynn Malerba and Internal Revenue Service (IRS) Chief Counsel Margie Rollinson visited the Penobscot Nation in Maine to meet with Tribal leadership and discuss the Biden-Harris Administration’s investments in Indian Country. This visit marks the first time an IRS Chief Counsel has visited Tribal lands.
Treasury
Treasury sanctions leaders linked to cartel producing illicit fentanyl
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned two Mexican members of Cartel de Jalisco Nueva Generacion (CJNG) and two Mexican companies. CJNG, a Mexico-based criminal organization, is one of the largest producers and traffickers of illicit fentanyl to the United States. This action was coordinated with the Government of Mexico, including its financial intelligence unit, La Unidad de Inteligencia Financiera (UIF), as well as U.S. Government partners such as the U.S. Attorney’s Office for the Central District of California, the...
Treasury
Yellen's Brazil visit focuses on economic cooperation and climate initiatives
From July 24-27, Secretary of the Treasury Janet L. Yellen will travel to Rio de Janeiro to participate in a G20 Finance Ministers and Central Bank Governors Meeting along with bilateral engagements with her counterparts and events on the margins. On July 27, Secretary Yellen will then travel to Belem, Brazil, for a meeting of Amazon basin ministers hosted by the Inter-American Development Bank and events related to Treasury’s international climate efforts.
Treasury
U.S sanctions Russian hackers targeting critical infrastructure
The United States exposes the identity of and imposes sanctions on two members of the Russian government-aligned hacktivist group.
Treasury
Treasury sanctions transnational human smuggling network operating from Mexico
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned the Abdul Karim Conteh Human Smuggling Organization (Karim HSO), a transnational criminal organization based in Tijuana, Mexico. This action, coordinated with partners in the U.S. and Mexico, aims to disrupt the organization's finances and operations.
Treasury
Treasury releases international capital data for May showing mixed investment trends
The U.S. Department of the Treasury released Treasury International Capital (TIC) data for May 2024 today. The next release, covering June 2024, is scheduled for August 15, 2024.
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