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The Latest Breaking News from Treasury Department

Senate confirms Brainard as Fed vice chair but COVID-19 trips Democrats on Cook vote

The Senate voted 52-43 Tuesday to confirm Lael Brainard, a member of the Federal Reserve board, to become vice chair, but fell short of the votes needed to move forward with Lisa Cook’s nomination to join the board.

Tribune News Service

Senate confirms Brainard as Fed vice chair but COVID-19 trips Democrats on Cook vote - Roll Call

Lisa Cook, who would become the first Black woman to join the Fed board, encountered another obstacle in COVID-19 cases among Democrats.

Roll Call

US to provide $500 million more in financial aid to Ukraine

The United States will provide $500 million more in financial assistance for Ukraine to sustain critical government operations as it fends off the Russia invasion

The Independent UK

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Special Report: Sanctioned weapons mogul who supplied Russia’s troops has ties to Philip Morris

A longtime Russian business associate of American tobacco giant Philip Morris International Inc - a billionaire whose holdings have included a major stake in a weapons plant supplying Russia’s military - has been sanctioned in Europe for aiding Russia’s invasion of Ukraine, according to a Reuters review of business registries…

Reuters

New U.S. sanctions imposed for Russian bank, oligarchs, crypto miner BitRiver

The United States on Wednesday imposed sanctions on dozens of people and entities, including a Russian commercial bank and a virtual currency mining company, hoping to target Moscow's evasion of existing sanctions over Russia's invasion of Ukraine.

Reuters

MTK Global Folds Amid Daniel Kinahan Sanctions

The boxing management company announced it would cease operations after its co-founder was hit by sanctions from the U.S. Treasury Department.

Sports Illustrated

Yellen tells Indonesian finance minister: 'No business-as-usual' for Russia

U.S. Treasury Secretary Janet Yellen told her counterpart from Indonesia that there will be no "business-as-usual" for Russia in the global economy given its invasion of Ukraine, the Treasury Department said in a statement on Wednesday.

Reuters

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US Treasury Secretary Janet Yellen will skip some G20 sessions to encourage pressure on Russia

The Treasury Department will concentrate on cracking down on those seeking to evade sweeping sanctions imposed on Russia over the war

The Independent UK

Yellen to attend G-20 sessions as US retreats on boycott idea

The U.S. backed further away from any suggestion that its officials would boycott Group of 20 meetings if their Russian counterparts attend, as the Treasury Department said Secretary Janet Yellen will participate in some sessions this week.

Tribune News Service

WBC boss Mauricio Sulaiman denies link to Tyson Fury’s ex-advisor Daniel Kinahan

Irishman Kinahan was last week hit with worldwide financial sanctions by the US Treasury Department.

The Independent UK

Yellen to push institutions to scale up response to war-fueled food security crisis

U.S. Treasury Secretary Janet Yellen will convene a high-level panel on Tuesday to discuss the global response to an ongoing food security crisis exacerbated by Russia's war against Ukraine, the Treasury Department said in a statement.

Reuters

UFC’s Mounir Lazzez uneasy discussing Daniel Kinahan after in-cage praise of alleged Irish mob boss

The U.S. government recently put a $5 million bounty on Daniel Kinahan's head, so why was a UFC fighter praising him after a win?

USA Today Sports Media Group

Man whose villa was named as Kinahan cartel HQ insists he's no gangster and mob claim is a mystery

Exclusive: When we asked was he surprised that his home had been named by the US authorities he said 'of course. I don’t know why'. He insisted that he was not a criminal and had no links whatsoever to criminality, when asked

Irish Mirror

Biden to nominate crisis veteran Barr as fed banking supervisor

President Joe Biden will nominate Michael Barr, a Treasury Department veteran and one of the architects of the Dodd-Frank Act of 2010, as the U.S. Federal Reserve’s chief banking supervisor.

Tribune News Service

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Tribune News Service

Biden will nominate Michael Barr as Fed’s banking supervisor

President Joe Biden will nominate Michael Barr, a Treasury Department veteran and one of the architects of the Dodd-Frank Act of 2010, as the U.S. Federal Reserve’s chief banking supervisor.

The Independent UK

US, allies aim to force Russia to shift money away from war

A Treasury Department official says the United States and its allies are pushing ahead with sanctions aimed at forcing Vladimir Putin to spend Russia’s money propping up its economy rather than sustaining its “war machine” for the fight in Ukraine

Benzinga

As We Build Towards Web3, We Need to Shift Our Focus Towards On-Chain KYC Solutions

As Web3 continues to develop, lawmakers and platforms are shifting their focus towards refining KYC, or know-your-customer, which serves as the barrier between Web3’s true calling for decentralization and centralized institution’s concerns for public good.

Reuters

Exclusive-U.S. suspends tax information exchange with Russian authorities

The U.S. Internal Revenue Service has suspended information exchanges with Russia's tax authorities in a bid to hamper Moscow's ability to collect taxes and fund its war against Ukraine, the Treasury Department told Reuters on Tuesday.

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The Independent UK

Treasury bars Russia payments in dollars from US accounts

The Treasury Department will not allow any Russian government debt payments from accounts at U.S. financial institutions to be made in U.S. dollars, an agency official says

Benzinga

Biden To Propose Change To Obamacare To Extend Subsidies For Families: WSJ

The Biden administration is expected to propose a change in Affordable Care Act (ACA) subsidies to allow some people to afford health insurance for their families, writes Wall Street Journal. The proposed change, expected to be announced Tuesday, would recalculate what is considered affordable for a family with employer-based health insurance.…

Axios

U.S. seizes Russian oligarch's $90 million yacht in Spain

It's owner, a Russian oligarch and Putin ally, has been sanctioned by the Department of Treasury since at least 2018.

The Independent UK

Battle heats up over remaining federal rental assistance

A debate is playing out across the country as the Treasury Department begins reallocating some of the $46.5 billion in rental assistance from places slow to spend to others that are running out of funds

Reuters

U.S. issues fresh North Korea sanctions after recent missile launches

The United States on Friday imposed sanctions on five entities it accused of providing support to North Korea's development of weapons of mass destruction and ballistic missile programs, increasing pressure on Pyongyang following a recent series of missile launches.

The Independent UK

Got a dime? Businesses seek Treasury help with coin shortage

Got a spare dime

Asharq Al-Awsat

US Targets Russia's Technology Sector in Fresh Sanctions

The United States on Thursday imposed fresh sanctions on Russia, targeting the technology sector, a sanctions evasion network and what it called "malicious cyber actors" while paving the way to act against additional sectors in response to President Vladimir Putin's assault on Ukraine. "We will continue to target Putin's war…

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