US Treasury taking on Chinese drug network over fentanyl crisis

The U.S. Department of Treasury is taking on a China-based drug network
The Treasury has identified 28 individuals and entities involved
This builds on sanctions against China and Mexico's fentanyl supply chain

Updated: Oct 3, 2023 / 01:43 PM CDT

FILE – The Department of the Treasury’s seal outside the Treasury Department building in Washington on May 4, 2021. Opponents of Myanmar’s military government applauded fresh financial sanctions imposed by the United States on the Southeast Asian nation but called Thursday, June 22, 2023, for further measures to pressure its ruling generals to restore peace and democracy. (AP Photo/Patrick Semansky, File)

(NewsNation) — The U.S. Department of Treasury is taking on a large Chinese network of illicit drug producers in an effort to address the growing fentanyl crisis.

“Treasury is taking sweeping action with our colleagues in law enforcement to expose and
disrupt a network responsible for manufacturing and distributing illicit drugs, including fentanyl
and other substances that take thousands of American lives each year,” said Deputy Secretary of
the Treasury Wally Adeyemo.

U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 28 individuals and entities involved in international drug trafficking, according to a statement released by the Treasury.

Among the entities identified is a China-based network responsible for the making and distributing of ton quantities of fentanyl, methamphetamines and MDMA precursors.

In total, 12 entities and 13 individuals who have been identified are based in China. The remaining two entities and one individual are Canada-based.

“This action follows a rapid increase in Treasury financial sanctions targeting the illicit fentanyl
supply chain, including a recent action against China- and Mexico-based enablers of counterfeit
pill production,” the Treasury said.