OFAC targets funding source of fentanyl-trafficking CJNG cartel

The Treasury Department yesterday announced that OFAC has sanctioned nine Mexican nationals and 26 Mexico-based entities linked to a fuel theft network that generates tens of millions of dollars benefiting the Cartel Jalisco Nueva Generacion (CJNG), a violent Mexico-based drug trafficking organization responsible for a significant proportion of fentanyl and other deadly drugs trafficked into the United States. Mexico-based drug trafficking cartels such as CJNG have turned to fuel theft in recent years, resulting in billions of dollars in lost revenue to the Mexican government. Today’s action was coordinated closely with the Drug Enforcement Administration and the Government of Mexico, including La Unidad de Inteligencia Financiera (UIF), Mexico’s Financial Intelligence Unit.

OFAC also designated ten individuals and six entities based in Iran and Russia and identified four vessels as blocked property that are enabling Iran’s delivery of weapons components and weapons systems, including unmanned aerial vehicles (UAVs) and close-range ballistic missiles (CRBMs), to Russia.

For identification information on the individuals, entities, and vessels designated or identified yesterday, see BankersOnline’s September 10, 2024, OFAC Update.