U.S. Department Of Treasury
Recent News About U.S. Department Of Treasury
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STRESA – Yesterday, Secretary of the Treasury Janet L. Yellen met with European Commissioner for the Economy Paolo Gentiloni on the sidelines of the G7 Finance Minister and Central Bank Governor Meetings in Stresa, Italy. During their meeting, Secretary Yellen commended the European Union’s economic growth in the first quarter, alongside falling inflation and continued strength in the labor market.
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Under Secretary for Domestic Finance Nellie Liang addressed the Central Bank of Ireland Conference on Macroprudential Policy for Investment Funds, discussing the increasing significance of non-bank financial intermediaries and their potential systemic risks.
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KYIV – Deputy Secretary Adeyemo met today with faculty and students from the Kyiv School of Economics, along with select non-governmental organizations. The group engaged in a discussion focused on supporting Ukraine’s economic recovery. Key topics included unlocking the value of immobilized Russian sovereign assets, Russia’s transition to a wartime economy, and measures to restrict Russia's revenue and disrupt its procurement of priority goods.
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Thank you, Michelle, and thanks to Linda, Ricardo, and Fabiola for the chance to be here.
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FRANKFURT – Secretary of the Treasury Janet L. Yellen today convened a roundtable with German financial executives to discuss global macroeconomic trends and financial sector risks, including illicit finance and Russian sanctions evasion.
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WASHINGTON – The United States has commended the productive Annual Meetings of the European Bank for Reconstruction and Development (EBRD) and acknowledged the re-election of President Odile Renaud-Basso to a second term. The U.S., as EBRD’s largest shareholder, also welcomed Iraq's membership and Benin as EBRD’s 75th member and first sub-Saharan African member, indicating progress toward EBRD’s limited expansion into sub-Saharan Africa.
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On May 16, 2024, U.S. Secretary of the Treasury Janet Yellen, alongside Department of Agriculture Secretary Tom Vilsack, Department of Energy Secretary Jennifer Granholm, Senior Advisor for International Climate Policy John Podesta, National Economic Advisor Lael Brainard, and National Climate Advisor Ali Zaidi announced the release of a Joint Statement of Policy and new Principles for Responsible Participation in Voluntary Carbon Markets (VCMs). These markets have the potential to channel private capital towards decarbonization efforts.
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On May 16, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals and three entities associated with the malicious botnet tied to the residential proxy service known as 911 S5. The individuals sanctioned are Yunhe Wang, Jingping Liu, and Yanni Zheng. The entities include Spicy Code Company Limited, Tulip Biz Pattaya Group Company Limited, and Lily Suites Company Limited.
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KYIV – Today, Deputy Secretary of the Treasury Wally Adeyemo met with Finance Minister of Ukraine Sergii Marchenko in Kyiv. Deputy Secretary Adeyemo and Finance Minister Marchenko discussed Ukraine’s economic outlook and the efforts of Ukraine’s Finance Ministry in mobilizing domestic and international support to help maintain essential services for the people of Ukraine and finance its defense against Russia. The Deputy Secretary also encouraged the Government of Ukraine to maintain momentum on its reform agenda. The Deputy Secretary and Finance Minister also discussed...
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Deputy Secretary of the Treasury Wally Adeyemo recently delivered remarks at the Vice President’s Economic Opportunity Tour Event in Milwaukee, Wisconsin. He began by expressing his gratitude for the warm introduction and acknowledging the presence of Acting Secretary Adrianne Todman and Vice President Kamala Harris.
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Secretary of the Treasury Janet L. Yellen addressed a roundtable with CEOs of German banks in Frankfurt, Germany, on May 16, 2024. In her remarks, she highlighted the resilience of the global economy despite challenging geopolitical conditions and noted that financial conditions have improved since last year's banking sector turmoil.
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STRESA – Secretary of the Treasury Janet L. Yellen met with France’s Minister of Economy and Finance Bruno Le Maire today on the sidelines of the G7 Finance Minister and Central Bank Governor Meetings in Stresa, Italy.
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The U.S. Department of the Treasury and Internal Revenue Service (IRS) have released additional guidance on the Inflation Reduction Act’s (IRA) domestic content bonus, a key component of President Biden’s economic strategy to stimulate American manufacturing and iron and steel production, thereby fortifying the clean energy economy.
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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on two Russian individuals and three Russia-based entities for facilitating weapons transfers between Russia and the Democratic People’s Republic of Korea (DPRK). This action aligns with U.S. government objectives to disrupt and expose arms transfers between the DPRK and Russia, building upon previous sanctions imposed by the Department of the Treasury and the Department of State related to DPRK-Russia arms transfers.
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The U.S. Department of the Treasury has issued the 2024 National Strategy for Combatting Terrorist and Other Illicit Financing (2024 Strategy), a comprehensive plan outlining the government's goals, objectives, and priorities to disrupt and prevent illicit financial activities. The strategy addresses key risks identified in the 2024 National Money Laundering, Terrorist Financing, and Proliferation Financing Risk Assessments (2024 National Risk Assessments) and lays out how the United States plans to build on recent efforts to modernize its anti-money laundering/countering the...
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On May 16, 2024, the U.S. Department of the Treasury released its first Non-fungible Token (NFT) Illicit Finance Risk Assessment. The report examines how vulnerabilities associated with NFTs and NFT platforms may be exploited by illicit actors for money laundering, terrorist financing, and proliferation financing.
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U.S. Secretary of the Treasury Janet L. Yellen presided over a meeting of the Financial Stability Oversight Council (Council) in both executive and public sessions at the U.S. Department of the Treasury (Treasury) on May 10, 2024.
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The United States has expressed its approval of the productive Annual Meetings of the Asian Development Bank (ADB) and the successful replenishment of the Asian Development Fund (ADF-14) and the Technical Assistance Special Fund (TASF-8). The ADF is a crucial support for the poorest and most vulnerable countries in Asia and the Pacific, including small island developing states in the Pacific, as well as Afghanistan and Myanmar.
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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has identified an attempted sanctions evasion scheme involving a Russian individual and three Russia-based companies. The intricate scheme could have potentially unfrozen over $1.5 billion worth of shares belonging to U.S.-designated Russian oligarch Oleg Vladimirovich Deripaska.
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Secretary of the Treasury Janet L. Yellen delivered remarks in Stafford County, Virginia on May 10, 2024. She expressed gratitude to those present and began by reflecting on the American Rescue Plan enacted by President Biden in March 2021 during the height of the COVID pandemic. The plan offered critical support to states, cities, and counties which enabled them to address urgent needs such as expanding public health services and ensuring housing and business continuity.