The Biden administration is taking serious steps to combat fentanyl and drug trafficking into the United States, as Treasury Secretary Janet Yellen recently revealed in an interview with Fox News. Yellen announced that the Treasury Department, along with the U.S. Drug Enforcement Administration (DEA) and U.S. attorneys in Atlanta, has imposed sanctions on eight individuals linked to the La Nueva Familia Michoacana drug cartel.
La Nueva Familia Michoacana is known as one of Mexico’s most violent and powerful cartels, involved in human smuggling and trafficking fentanyl, cocaine, and methamphetamine into the U.S. The Treasury Department’s Office of Foreign Assets Control released a statement confirming these allegations.
Yellen emphasized the administration’s determination to disrupt the cartel’s operations by cutting off their access to the U.S. financial system and the dollar. She acknowledged that while some cartels may use cryptocurrency for revenue, it remains a small part of their overall financial activities.
In the past two years, the Treasury Department has sanctioned over 250 individuals allegedly connected to drug trafficking, targeting various aspects from transportation networks to chemical suppliers. Yellen explained that the delay in freezing cartel funds was due to the extensive collaboration with law enforcement agencies and the Mexican government to gather necessary information.
The severity of the fentanyl crisis was highlighted by Yellen, stating that synthetic opioids like fentanyl have claimed over 1 million lives since 2000. The CDC reports an average of 115 opioid-related deaths daily in the U.S., underscoring the urgency of addressing this issue.
President Biden has made combating the opioid epidemic a top priority, recognizing it as a multi-agency effort involving Homeland Security, the DEA, and law enforcement. Yellen emphasized the unique role of the Treasury Department in targeting drug trafficking by disrupting financial channels that sustain these criminal activities.
The fight against drug trafficking remains ongoing, with the U.S. aiming to strengthen cooperation with Mexico and incoming President Claudia Sheinbaum. By targeting the financial infrastructure of cartels and intensifying collaborative efforts, the Biden administration is committed to curbing the flow of illegal drugs into the country.
As the devastating impact of fentanyl continues to ravage communities and claim lives, the administration’s proactive measures signal a concerted effort to address this crisis comprehensively. By disrupting the financial lifelines of drug traffickers, the U.S. aims to weaken their operations and protect the well-being of its citizens.