This week, Treasury Secretary Janet Yellen announced new sanctions against eight top leaders and associates of La Nueva Familia Michoacana, a fast-growing and often violent Mexican drug cartel smuggling street fentanyl into the U.S.
The measures are part of a widening Biden administration effort aimed at targeting the finances of Mexican drug gangs as well as Chinese individuals and companies that narcotics experts say form the black market global supply chain for fentanyl.
"The Treasury Department has a unique ability to degrade and disrupt their operations," Yellen said Thursday during a trip to Atlanta. According to Yellen, sanctions have already been placed on more than 250 targets worldwide, with the goal of weakening "drug trafficking organizations, their enablers and their financial facilitators."
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