News and reports from the Department of the Treasury.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has announced new sanctions targeting 19 individuals, 14 entities, and one aircraft under Belarus-related Executive Order (E.O.) 14038. These measures are aimed at those involved in supporting Russia’s war in Ukraine through military resource production, transshipment of goods to Russia, sanctions evasion on behalf of Belarusian defense entities, and revenue generation for Belarusian oligarchs within Alyaksandr Lukashenka’s inner circle. Additionally, five targets—three individuals and two...

Secretary of the Treasury Janet L. Yellen issued a statement on August 8, 2024, regarding the disbursement of $3.9 billion in direct budget support for Ukraine.

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced the launch of a public service announcement (PSA) campaign to educate small business owners about new beneficial ownership reporting requirements. The PSAs, which are being broadcast on television and radio nationwide, aim to inform business owners and stakeholders about these requirements and encourage compliance. This initiative complements ongoing digital and print advertising efforts.

On July 23 and 24, the United States, Italy, and Saudi Arabia hosted the 20th meeting of the Counter ISIS Finance Group (CIFG) virtually under the Global Coalition to Defeat ISIS. The U.S. Treasury Department and the U.S. Department of State jointly represented the United States at this event, which included over 50 member states and observers.

In 2023, more than 158,000 Pennsylvanian families saved over $267 million on clean energy and energy efficiency investments.

In 2023, more than 41,000 Nevada families saved over $151 million on clean energy and energy efficiency investments.

In 2023, more than 87,000 Georgia families saved over $148 million on clean energy and energy efficiency investments.

In 2023, more than 88,000 Arizona families saved over $285 million on clean energy and energy efficiency investments.

The U.S. Department of the Treasury has released new data showing that more than 189,000 New York families saved over $374 million on clean energy and energy efficiency investments in 2023, thanks to tax credits provided under the Inflation Reduction Act. This marks the first public release of such data from 2023 tax filings.

In 2023, more than 109,000 Ohio families saved more than $150 million on clean energy and energy efficiency investments

In 2023, 3.4 million American families saved $8.4 billion on clean energy and energy efficiency investments.

In 2023, more than 117,000 Michigan families saved over $134 million on clean energy and energy efficiency investments, according to new data released by the U.S. Department of the Treasury (Treasury). This announcement comes ahead of the two-year anniversary of the Inflation Reduction Act.

The U.S. Department of the Treasury, the Consumer Financial Protection Bureau (CFPB), and the Federal Trade Commission (FTC) announced measures today aimed at addressing unfair and deceptive consumer practices in the residential solar power sector. The agencies released Consumer Advisories to help the public identify potential unfair practices and encouraged consumers to report suspicious behavior to the FTC, CFPB, or state consumer protection offices.

On July 31, Deputy Secretary of the Treasury Wally Adeyemo met with the leadership of the 11 Federal Home Loan Banks (FHLBs) and Sandra Thompson, Director of the Federal Housing Finance Agency (FHFA), to discuss measures for enhancing affordable housing development.

On August 6, 2024, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Paraguayan tobacco company Tabacalera del Este S.A. (Tabesa) for providing financial support to Paraguay’s former president, Horacio Manuel Cartes Jara. Cartes was sanctioned by OFAC on January 26, 2023, for his involvement in corruption. The designation of Tabesa falls under Executive Order (E.O.) 13818, which implements the Global Magnitsky Human Rights Accountability Act and targets perpetrators of serious human rights abuse and corruption globally.