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CEO NA Magazine > Business > Treasury department sanctions cartel-linked individuals

Treasury department sanctions cartel-linked individuals

in Business, News
Treasury department sanctions cartel-linked individuals
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Nine Mexican nationals and 26 Mexico-based entities linked to fuel theft networks benefitting the Cartel Jalisco Nueva Generacion (CJNG) were sanctioned yesterday by the Department of the Treasury’s Office of Foreign Assets Control (OFAC).

The CJNG is responsible for a significant proportion of the fentanyl and other drugs consumed in the United States.

“CJNG’s diverse revenue streams, including fuel theft, ultimately strengthen its ability to traffic fentanyl and other deadly drugs into the United States,” said said Deputy Secretary of the Treasury Wally Adeyemo. “Treasury will continue to use its expertise and tools to target relentlessly drug trafficking gangs to make our communities safer and keep poisonous drugs like fentanyl off our streets.” 

The fuel theft leads to billions of dollars of lost government revenue for the Mexican government.

The Treasury Department has sanctioned more than 300 targets for involvement in drug trafficking from major cartel leaders to clandestine drugs labs over the past two years, according to a government press release.

By Staff

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