US Treasury sanctions powerful Mexican cartel, Yellen says they intend to make business 'very difficult'
Fox News
Treasury Secretary Janet Yellen tells "Your World" how the Biden administration is taking steps to curb fentanyl trafficking into the United States.
La Nueva Familia Michoacana, one of Mexico’s most violent and powerful cartels, is accused of human smuggling as well as trafficking fentanyl, cocaine and methamphetamine into the United States, according to a press release from the Treasury Department's Office of Foreign Assets Control. Ashley Carnahan is a production assistant at Fox News Digital.
"We intend through these actions to try to cut them off, to make their business very difficult or impossible by cutting them off from the U.S. financial system and the dollar," Yellen said.
She addressed concerns that cryptocurrency is used as a form of revenue for some cartels, saying its use "remains a small portion of the activity that finances drug trafficking."
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