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The Latest Breaking News from The US Treasury Department

How To Squeeze Iran Financially. Is US Taking Aim At Chinese 'Teapot' Entities

Trump's latest announcement is likely to target independent Chinese refineries, known as "teapots." Teapots account for a quarter of Chinese refinery capacity. China accounts for more than 80% of Iran's shipped oil and teapots absorb much of this trade.

International Business Times

US removes sanctions from three IRGC-linked entities, Treasury website shows

The US Treasury Department has removed Fly Baghdad and two aircraft from its sanctions list. This action follows earlier targeting of the airline for suspected Iran links. The airline's owner, Basheer Al-Shabbani, however, remains under active US sanctions. Authorities have now directly linked Al-Shabbani to Iran's Quds Force. This move…

The Economic Times

US to expand incentives for employers offering paid family leave

The US Treasury Department will announce new guidance expanding employer paid family leave incentives. This policy centers on an expansion of a paid leave tax credit created in 2017. The guidance allows employers to claim credits if they pay insurance premiums for leave. The United States is the only OECD…

The Economic Times

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Yen heads for biggest weekly drop since May despite Tokyo's support pledges

The Japanese yen is experiencing a dramatic drop, marking its most significant weekly decline since May. The currency has hit 40-year lows against the US dollar, compounded by Japan's ineffective measures to bolster its value. Additionally, surging oil prices have reignited inflation worries, further enhancing the dollar's strength, while the…

The Economic Times

Global Market: US urges BOJ to keep raising rates, flags persistent yen weakness despite narrower yield gap

The US Treasury Department has urged the Bank of Japan to continue raising interest rates. This action aims to control inflation expectations and reduce excessive yen currency volatility. The yen has weakened significantly, reaching a 40-year low against the US dollar recently. Higher prices are impacting Japanese households' purchasing power…

The Economic Times

US revokes waiver for Iranian oil sales amid renewed Gulf strikes

The US Treasury Department has announced it will no longer allow Iranian oil sales to be conducted in US dollars on global markets after several tankers were hit by projectiles while attempting to cross the Strait of Hormuz. The move has left more than 60 million barrels of Iranian crude…

France 24

Iranian President Masoud Pezeshkian leaves Iraq for Tehran after US strikes

US-Iran war news: Iranian President Masoud Pezeshkian departed Iraq after attending funeral rites for Ayatollah Ali Khamenei. US Central Command forces launched powerful strikes against Iran in response to vessel attacks. Explosions were reported near Sirik and Qeshm in southern Iran following these strikes. The US Treasury Department also cancelled…

The Economic Times

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Former Iran director at NSC: Crypto legislation is a ticket to sanctions evasion

As the Senate weighs the CLARITY Act, gaps in oversight could hand adversaries new ways to evade sanctions and launder money.

Fortune

Indian firm, CEO among 8 entities sanctioned by US for 'fuelling' civil war in Sudan

The US has imposed sanctions on eight individuals and entities, including an Indian national, for allegedly fueling Sudan's civil war. Alok Choudhari, CEO of SBL Energy Limited, is accused of supplying explosives to a firm linked to the Sudanese Armed Forces.

The Economic Times

US warns ties with Iran’s Strait of Hormuz authority may bring sanctions for 'anyone' involved

America has issued a stern warning to global shipping and finance firms. Cooperation with Iran's new Persian Gulf Strait Authority could invite US sanctions. This move escalates pressure on Tehran's control over the vital Strait of Hormuz. The US Treasury Department stated that such cooperation might support Iran's Revolutionary Guard…

The Economic Times

Iran condemns US sanctions on Iranian ambassador and other officials for 'undermining Lebanon's sovereignty'

Iran has strongly condemned new US sanctions targeting its ambassador-designate to Lebanon, Mohammad Reza Rauf Sheibani, and other Iranian officials. Tehran labels Washington's move as illegal and unjustified, accusing the US of disregarding international law. The sanctions also include Hezbollah members and Lebanese security officials. Iran asserts these actions aim…

The Economic Times

United States: sanctions lifted on UN rapporteur Francesca Albanese

The US Treasury Department has announced that sanctions against UN rapporteur Francesca Albanese have been lifted. Last week, a federal judge ordered their suspension after upholding an appeal lodged by Albanese’s relatives.

Euronews

Adani Enterprises & other Adani Group stocks rise up to 5% after US drops charges against Gautam Adani

Adani Group shares surged as US prosecutors dropped criminal charges against Gautam Adani and his nephew. This development concludes a 19-month legal challenge. The conglomerate also settled civil charges with the US Treasury Department for sanctions violations. The group's expansion plans faced uncertainty during this period. The dismissal of charges…

The Economic Times

US Treasury enlists banks to target Iranian money laundering schemes

The US Treasury has directed banks to intensify their monitoring of Iranian money laundering networks that enable funds from sanctioned oil. The move is part of the wider strategy to pressure Iran into a deal as negotiations stall.

Euronews

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International Business Times UK

Wall Street Giants Join Forces For Trump Accounts App — $1,000 Offer Draws Millions

The US Treasury Department has designated BNY Mellon as the financial agent for Trump accounts. BNY will collaborate with Robinhood to develop a new app for these accounts, slated to launch on 4th July.

Euronews

US Justice Department digs into Iran's sanctions evasion via Binance

The US Justice Department has begun investigating Iran’s alleged use of Binance to circumvent sanctions, especially funds transferred through the crypto exchange to finance terrorist organisations like Yemen’s Houthi militants.

Euronews

Iran's internet shutdown: Can Starlink reconnect countries cut off from the world?

In light of Iran’s internet blackout, Starlink has allowed some citizens to stay connected. How could its Direct to Cell service help mitigate future communications shutdowns and what role might the United States play?

International Business Times UK

Channel 4's Myanmar Scam Documentary Forces You to Feel Empathy for Your Scammers

Channel 4 investigation reveals Myanmar scam compounds using trafficked workers under torture threat to steal billions from victims worldwide.

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Fortune

America's cattle chief rips into Trump's Argentine beef bailout, saying it 'does nothing to lower grocery store prices'

National Cattlemen’s Beef Association CEO Colin Woodall said Trump’s idea to buy Argentine beef “only creates chaos at a critical time of the year.”

The Independent UK

Trinidad and Tobago secures US permission to negotiate gas deal with neighboring Venezuela

The U.S. has granted Trinidad and Tobago permission to negotiate a gas deal with neighboring Venezuela without facing any U.S. sanctions

Al Jazeera

US issues sanctions against Greek shipper of Iranian oil

Sanctions are the latest aimed at penalising Tehran’s energy sector following a Washington-brokered ceasefire.

The Independent UK

US sanctions Mexican drug cartel associates accused of scamming elderly Americans

The U.S. Treasury Department has imposed sanctions on more than a dozen Mexican companies and four people it says worked with a powerful drug trafficking cartel to scam elderly Americans in a multimillion-dollar timeshare fraud

The Independent UK

Mexican banks face cascading consequences following US sanctions

Three Mexican financial institutions sanctioned by the Trump administration last week have felt a cascade of economic consequences following the allegations that they helped launder millions of dollars for drug cartels

Latin Times

U.S. Treasury Department Reveals 'Los Chapitos' Money-Laundering Network in Mazatlán

In the wake of the sanctions issued by the U.S. against 'Los Chapitos,' government officials discovered a money laundering network linked to the group.

Latin Times

Mexican Singer Investigated Over Cartel Ties Cancels Texas Show, Says U.S. Visa Has Been Revoked

Mexican singer Julion Alvarez cancelled a show for tens of thousands of fans in Texas after the Trump administration allegedly revoked his visa

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