Wally Adeyemo, the Deputy Secretary of the US Treasury, has stated that his department will persist in its efforts "to target the violent drug cartels that profit from deadly fentanyl sales in our country." This announcement was made in a press release issued by the US Department of the Treasury on March 22.
"The Biden Administration will continue to use every tool at our disposal to target the violent drug cartels that profit from deadly fentanyl sales in our country,” said Deputy Secretary of the Treasury Wally Adeyemo," said Adewale "Wally" Adeyemo, according to U.S. Department of Treasury. "Using Treasury's unique authorities to disrupt illicit fentanyl networks, particularly in coordination with our law enforcement partners, are among Secretary Yellen and the Department's top priorities."
In a recent press release from the US Treasury, Adeyemo revealed sanctions imposed by the Department’s Office of Foreign Assets Control (OFAC) on individuals associated with a Black-Market Peso Exchange (BMPE) scheme. This operation enabled the Sinaloa Cartel to launder illicit profits derived from fentanyl. The OFAC targeted 15 cartel members and identified six Mexican businesses involved in this scheme.
Adeyemo, accompanied by local leaders, made this announcement during his visit to Arizona, as reported by the news release. Throughout this trip, he engaged with local, state and federal law enforcement officials to bolster their partnerships with the Treasury in fighting against fentanyl trafficking. The Drug Enforcement Administration’s (DEA) Phoenix Field Division and the Government of Mexico were also participants in these sanctions.
The Treasury Department underscored that these recent sanctions form part of an ongoing effort to combat fentanyl, a substance responsible for over 110,000 US citizen deaths annually.
The press release further stated that these recent sanctions necessitate any assets held by sanctioned individuals within the US to be seized and promptly reported to OFAC. If any sanctioned individual possesses at least 50% ownership in any entity, it can be immediately frozen. Furthermore, all transactions involving sanctioned individuals within the US are prohibited by OFAC.
According to information provided by the Department of the Treasury, Adeyemo has served as Deputy Secretary of the Treasury since 2021. He holds the second highest position within the Department and acts as its chief operating officer. He also previously served within this department during Obama's administration.
