The US Treasury Department is significantly involved in the fight against terrorist drug cartels, according to Secretary Scott Bescent. In a recent conversation with Breitbart News, Bescent mentioned that the Treasury is utilizing every financial tool available to tackle these criminal organizations. “We’re here for them,” he stated.
Bescent pointed out the recent approvals of three financial institutions in Mexico: two banks and one brokerage. Treasury officials reported that these institutions were linked to multiple drug cartels engaged in significant money laundering activities. They also indicated that funds were wired to China to purchase precursors for fentanyl.
The institutions flagged by the Treasury include Cibanco SA, Intercam Banco SA, and Vortex Casa de Bolsa. As per Breitbart Texas, last month’s sanctions have caused a stir among Mexican political elites. Notably, Alfonso Romo, the former chief of staff to ex-president Andrés Manuel López Obrador, is associated with Vortex. In an unusual move, the Mexican government quickly attempted to downplay the sanctions; current President Claudia Sinbaum even mentioned that the US had not provided evidence of wrongdoing by the financial entities.
Finance officials are honing in on specific cartel players and organizations deemed foreign terrorist entities. This classification permits the Treasury to impose sanctions, freeze assets, and restrict US citizens and businesses from interacting with these groups.
Interestingly, fentanyl production is now becoming a focal point in trade discussions with China.
“If they (China) wanted, they could have turned off the supply of these chemicals,” Secretary Bescent explained, noting that various economic strategies are being employed to impact these activities.
“We’re going to finish this,” Bescent asserted.
