(Washington, DC) – U.S. Treasury Secretary Janet Yellen announced new sanctions on Thursday targeting members of the La Nueva Familia Michoacana drug cartel. The sanctions aim to disrupt the cartel’s trafficking operations involving fentanyl, cocaine, methamphetamine, and migrants across the U.S.-Mexico border.
Eight members of the La Nueva Familia Michoacana cartel, a group known for its violent tactics and territorial battles with other Mexican cartels, are included in the sanctions. This action is part of the Biden administration’s broader strategy to combat the import of illegal drugs into the United States.
In her announcement, Yellen also issued an advisory to financial institutions, urging them to be vigilant in identifying and reporting suspicious transactions related to the purchase and sale of chemicals and equipment used in the production of fentanyl and other synthetic opioids. The advisory is intended to bolster efforts to detect and prevent the illicit manufacture of these dangerous substances.
La Nueva Familia Michoacana is notorious for its role in manufacturing and distributing drugs such as fentanyl and methamphetamine. The cartel has also expanded into the lucrative migrant smuggling industry, capitalizing on the increased migration flow to the United States. The Treasury Department’s move to sanction these cartel members is aimed at disrupting their financial networks and curbing their illegal activities.
The Biden administration previously targeted the cartel’s leaders, known as the Hurtado brothers, in 2022. The leaders were sanctioned for their involvement in producing “rainbow” fentanyl pills, which the Treasury Department described as a deliberate attempt to increase addiction among children.
This announcement by Yellen follows the recent signing of the FEND Off Fentanyl Act by President Joe Biden in April. This legislation, part of a supplemental spending package, officially declares the international trafficking of fentanyl a national emergency. The act aims to enhance the government’s ability to combat the trafficking and distribution of this deadly drug.
Yellen’s trip and the subsequent announcement of these sanctions underscore the administration’s commitment to addressing the fentanyl crisis, which has contributed to a significant number of overdose deaths in the United States. By targeting the financial infrastructure of drug cartels, the administration hopes to disrupt the supply chain of illegal drugs and reduce their availability on the streets.
The Treasury Department’s actions are also intended to send a strong message to other cartels involved in similar activities. By imposing these sanctions, the U.S. government demonstrates its resolve to hold accountable those who contribute to the nation’s drug epidemic.
The sanctions and advisories are part of a multi-faceted approach to tackling the complex issues of drug trafficking and opioid addiction. The administration’s efforts include increased border security, enhanced cooperation with international partners, and comprehensive support for addiction treatment and recovery programs.
As the fight against illicit drugs and their devastating impact continues, the Treasury Department’s sanctions represent a crucial step in curbing the activities of dangerous cartels like La Nueva Familia Michoacana. The administration’s commitment to addressing the root causes of the opioid crisis remains steadfast, with ongoing initiatives aimed at protecting public health and safety.
