The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned eight individuals linked to Mexico's La Nueva Familia Michoacana drug cartel, as announced by Secretary Janet L. Yellen in Atlanta, Georgia. These sanctions target those involved in trafficking fentanyl, cocaine, and methamphetamine into the United States.

La Nueva Familia Michoacana is recognized as one of Mexico's most powerful and violent cartels, also involved in human smuggling operations from Mexico to the United States. The cartel has expanded its operations to include fentanyl trafficking by obtaining precursor chemicals and pill press machines necessary for production.

Secretary Yellen emphasized the commitment of the Biden administration to combat the opioid crisis. "The opioid crisis, and especially the rise of synthetic opioids like fentanyl, has devastated communities and claimed the lives of hundreds of thousands of Americans," said Yellen. "Treasury has unique capabilities and expertise to target the financial flows of these cartels who are poisoning our communities."

In conjunction with OFAC's actions, Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Supplemental Advisory aimed at aiding financial institutions in identifying suspicious transactions related to illicit fentanyl activities. This advisory highlights new trends and red flags associated with precursor chemical procurement and manufacturing equipment used for synthesizing fentanyl.

Over the past two years, Treasury has sanctioned more than 250 targets involved in drug trafficking activities across various stages of the supply chain. Secretary Yellen also highlighted efforts such as the Counter-Fentanyl Strike Force launched last year and international collaborations to combat fentanyl trafficking.

The designated individuals include high-ranking members such as Rodolfo Maldonado Bustos, Josue Ramirez Carrera, Josue Lopez Hernandez, David Duran Alvarez, Uriel Tabares Martinez, Kevin Arzate Gomez, Euclides Camacho Goicochea, and Lucio Ochoa Lagunes. These designations are part of broader U.S. government efforts to counter illicit drug trafficking under President Biden’s Unity Agenda.

As a result of these sanctions, all property and interests in property belonging to these individuals within U.S. jurisdiction are blocked. Additionally, entities owned 50 percent or more by these designated persons are also subject to blocking measures unless authorized by OFAC.

This action underscores OFAC's ongoing collaboration with other U.S. government agencies and international partners in disrupting financial networks that support drug trafficking organizations. The FinCEN Supplemental Advisory builds on previous advisories by providing updated information to assist financial institutions in detecting transactions related to transnational criminal organizations' procurement activities from China-based suppliers.

According to data from the Centers for Disease Control and Prevention (CDC), over 107,000 Americans died from drug overdoses during a 12-month period ending December 2023; over 74,000 deaths involved synthetic opioids like illicitly manufactured fentanyl.

The ultimate goal of these sanctions is not punitive but aims at bringing about positive changes in behavior among those targeted.

For further details on today's actions and access to additional resources including removal processes from OFAC lists or FinCEN advisories, interested parties can visit relevant links provided by Treasury.