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.
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...
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.
On behalf of U.S. Treasury Secretary Janet Yellen, I would like to thank the Government and people of Armenia for generously hosting the 2024 EBRD Annual Meetings of the Board of Governors. President Odile Renaud-Basso has steered the EBRD successfully over the past year through successful capital increase negotiations—on the heels of the Bank’s first-mover, quick and effective support to Ukraine—and the historic resolution on the Bank’s incremental expansion to sub-Saharan Africa and Iraq.
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...
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.
KYIV – Today, Deputy Secretary Adeyemo met with young professionals, entrepreneurs, and activists working to resist Russia’s invasion and secure a better economic future for Ukraine. The Deputy Secretary heard directly from Ukrainian citizens about their perspectives on Ukraine’s future and the efforts they are undertaking to support their country. Deputy Secretary Adeyemo also observed how small businesses are adapting to contribute to Ukraine’s war effort.
Secretary of the Treasury Janet L. Yellen delivered remarks at TechQuartier in Frankfurt, Germany, on May 16, 2024. In her speech, she highlighted the innovative approaches to climate, clean energy, and sustainable finance being pioneered by TechQuartier’s members.
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.
On May 16, 2024, Under Secretary of the Treasury for International Affairs Jay Shambaugh held a meeting with Argentina’s Chief of Cabinet Nicolás Posse and Foreign Minister Diana Mondino. The Argentine delegation was also accompanied by Ambassador Gerardo Werthein.
On May 16, 2024, Secretary of the Treasury Janet L. Yellen delivered remarks on high-integrity voluntary carbon markets (VCMs) at an event hosted by Bloomberg Philanthropies, the Center for Climate and Energy Solutions, and the Environmental Defense Fund.
KYIV – Deputy Secretary Adeyemo met with key members of the Verkhovna Rada during his visit to Kyiv. The discussions focused on ongoing efforts by the international coalition to provide Ukraine with necessary resources for defense, including mobilizing over $85 billion in budget support from the United States and international partners, as well as more than $24 billion in early recovery and reconstruction assistance.
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.
In a recent meeting of the Financial Stability Oversight Council, Secretary of the Treasury Janet L. Yellen highlighted the importance of addressing risks associated with nonbank mortgage servicing. The Council is set to vote on publishing a report that provides a comprehensive analysis of these risks and offers concrete recommendations for mitigating them.
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.
The U.S. Department of the Treasury has released the Treasury International Capital (TIC) data for March 2024. The subsequent release, which will report on data for April 2024, is slated for June 18, 2024.
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.
Secretary of the Treasury Janet L. Yellen issued a statement following the conclusion of the Section 301 review. She emphasized that President Biden and she have consistently pledged to take necessary actions to further the interests of American workers and firms. The results of the Section 301 review, announced today, outline strategic steps required to address specific long-standing unfair trade practices by the People's Republic of China.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on three Nicaragua-based entities: the Training Center of the Russian Ministry of Internal Affairs in Managua (RTC); Compania Minera Internacional, Sociedad Anónima (COMINTSA); and Capital Mining Investment Nicaragua, Sociedad Anónima (Capital Mining). These actions are taken pursuant to Executive Order (E.O.) 13851, as amended.
