It is a pleasure to meet with Minister Godongwana at this G20 to discuss our shared international economic priorities as we look ahead to South Africa’s G20 host year in 2025 and the United States' host year in 2026.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on the Congo River Alliance, known by its French name Alliance Fleuve Congo (AFC), a coalition of rebel groups aiming to overthrow the government of the Democratic Republic of Congo (DRC). The AFC is identified as a significant driver of political instability, violent conflict, and civilian displacement in the region. The primary member of AFC is the March 23 Movement (M23), an armed group with a history of destabilizing North Kivu province and committing human rights abuses.
Secretary of the Treasury Janet L. Yellen met with Italy’s Minister of Economy and Finance Giancarlo Giorgetti today in Rio de Janeiro on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting. The discussion highlighted several key global economic issues, including support for Ukraine amid ongoing conflict, and concerns over Chinese industrial capacity.
The U.S. Treasury's Office of Foreign Assets Control (OFAC) has sanctioned the Lopez Human Smuggling Organization (Lopez HSO), a transnational criminal organization based in Guatemala. This action, coordinated with partners from the U.S., Mexico, and Guatemala, aims to disrupt operations that threaten U.S. national security by smuggling migrants illegally.
Thank you, Minister Haddad, for hosting these meetings and thanks to all of you for being here today. Before taking your questions, I would like to step back and recognize President Biden for his leadership. Over the past three and a half years, he has driven a remarkable economic recovery and strong economic growth at home and restored America’s standing in the world, enabling progress on many of the priorities I’ll be focused on in Brazil this week. I am deeply proud to serve the American people with him and Vice President Harris and I look forward to continuing to advance...
Secretary of the Treasury Janet L. Yellen met with European Commissioner for Economy Paolo Gentiloni on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Rio de Janeiro, Brazil, today. During their discussion, Secretary Yellen praised Commissioner Gentiloni for the EU economy's continued strength, noting slowing inflation and a robust labor market.
The United States has announced a planned contribution of up to $667 million to the Pandemic Fund, aimed at supporting pandemic prevention, preparedness, and response. This announcement was made by Secretary Yellen during the Pandemic Fund Investment Case launch event, held alongside the G20 Finance Ministers and Central Bank Governors meeting.
In a new report, an interagency team identifies barriers to compliance in post-award reporting and offers solutions shown to be effective in a pilot project.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a network of six individuals and five entities based in the People’s Republic of China (PRC). These sanctions target those involved in procuring items to support the Democratic People’s Republic of Korea’s (DPRK) ballistic missile and space programs. The DPRK has continued its ballistic missile launches, including a recent failed attempt to place a military satellite into orbit in May 2024, violating multiple United Nations Security Council Resolutions (UNSCR).
Indian Island, ME – On July 23, 2024, U.S. Treasurer Chief Lynn Malerba and Internal Revenue Service (IRS) Chief Counsel Margie Rollinson visited the Penobscot Nation in Maine to meet with Tribal leadership and discuss the Biden-Harris Administration’s investments in Indian Country. This visit marks the first time an IRS Chief Counsel has visited Tribal lands.
The United States has taken action against a network of three individuals associated with the expanded activities of the Islamic State of Iraq and Syria (ISIS) on the African continent. These individuals serve as key financiers and trusted operatives, enabling ISIS activities across Central, Eastern, and Southern Africa. They also act as critical links between ISIS operations in the Democratic Republic of the Congo (DRC), Mozambique, Somalia, and South Africa, allowing ISIS leadership to leverage each affiliate’s capabilities to conduct terrorist attacks that undermine...
The Federal Reserve Bank of Richmond has announced the election of Scott Werry, managing partner of Altas in Chapel Hill, North Carolina, as a Class B director. This appointment is part of the bank's ongoing efforts to support economic stability and strength.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a new reporting requirement for financial institutions holding Russian sovereign assets, as part of implementing the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act (REPO for Ukrainians Act). According to section 104(a) of the REPO for Ukrainians Act, all financial institutions that hold or are aware of Russian sovereign assets must notify OFAC by August 2, 2024, or within 10 days of detecting such assets. The notification can be submitted using OFAC’s new form.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned two Mexican members of Cartel de Jalisco Nueva Generacion (CJNG) and two Mexican companies. CJNG, a Mexico-based criminal organization, is one of the largest producers and traffickers of illicit fentanyl to the United States. This action was coordinated with the Government of Mexico, including its financial intelligence unit, La Unidad de Inteligencia Financiera (UIF), as well as U.S. Government partners such as the U.S. Attorney’s Office for the Central District of California, the...
The Department of the Treasury, as Chair of the Committee on Foreign Investment in the United States (CFIUS), released its Annual Report to Congress for calendar year 2023.
From July 24-27, Secretary of the Treasury Janet L. Yellen will travel to Rio de Janeiro to participate in a G20 Finance Ministers and Central Bank Governors Meeting along with bilateral engagements with her counterparts and events on the margins. On July 27, Secretary Yellen will then travel to Belem, Brazil, for a meeting of Amazon basin ministers hosted by the Inter-American Development Bank and events related to Treasury’s international climate efforts.
