U.S. Department of the Treasury

Had Spirit Airlines been allowed to merge with Jet Blue, it would have given them much more resiliency. Thanks to @SenWarren, @PeteButtigieg, and all of their friends in the Biden Administration who backed their enthusiastic opposition to the Spirit-Jet Blue merger, dozens of regional airports will now lose service and thousands of jobs will now be lost.

Today, Treasury’s Office of Foreign Assets Control issued an alert warning the maritime industry that paying “tolls” to the Iranian regime for safe passage through the Strait of Hormuz may result in sanctions exposure. The regime may demand payment in fiat currency, digital assets, offsets, informal swap, or other in-kind payments, such as nominally charitable donations made to the Iranian Red Crescent Society, Bonyad Mostazafan, or Iranian embassy accounts. Treasury will not hesitate to take action against those supporting Iran’s military, including through “toll” payments. Maritime service providers should conduct enhanced due diligence around transits through the Strait of Hormuz. https://t.co/g7KKcXjhH6

Iran is the head of the snake for global terrorism, and under @POTUS’ leadership, Treasury is moving aggressively, through Economic Fury, to sever the Iranian military’s financial lifelines. We will relentlessly target the regime’s ability to generate, move, and repatriate funds, and pursue anyone enabling Tehran’s attempts to evade sanctions.

Press Release: https://home.treasury.gov/news/press-releases/sb0483

Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control designated three Iranian foreign currency exchange houses and their associated front companies. Collectively, Iranian exchange houses facilitate billions of dollars in foreign currency transactions each year. Because Iran primarily settles its oil sales in Chinese yuan, these exchange houses play a critical role in converting oil revenues into currencies that are more readily useable by the Iranian military and its partners and proxies.

It is very difficult for rats in a sewer pipe to know what’s going on in the outside world. Some color for the Iranian Leadership as they literally sit in the dark: 1. The United States has complete control of the Strait of Hormuz. 2. There is a hard currency, i.e. U.S. dollar, shortage. 3. Food and gasoline rationing are in place. 4. The entire international community has turned against you. 5. The BLOCKADE will continue, until there is pre-February 27 Freedom of Navigation.

Financial Literacy fuels the American Dream. It is a foundational skill, similar to reading and writing, which is why we must get our youth engaged and excited to learn from an early age. I was pleased to join students, educators, and local partners including nearly a dozen financial institutions for a financial literacy fair at @USTreasury to close out Financial Literacy Month. In addition to visiting booths and exhibitions with learning modules, the students in attendance were invited to participate in @Visa’s Financial Soccer game with special guest “coaches,” @TreasurerBeach and Assistant Secretary Luke Pettit. Under President Trump’s leadership, our Administration is championing financial literacy for all age groups across the country. We are working to ensure that young Americans have the tools to save, invest, and plan for the years ahead—through @TrumpAccounts and many other resources available at https://t.co/dhdLfix3sl. As we approach our nation’s 250th anniversary, strengthening financial literacy will help expand opportunity and prepare the next generation to build a more prosperous future.

Today, the Task Force to Eradicate Christian Bias published a report detailing how numerous Biden Administration prosecutions, policies, and practices demonstrated anti-Christian bias throughout the federal government. .@USTreasury will continue to utilize its authority to end the weaponization of government in accordance with @POTUS’ executive order, and work closely with @TheJusticeDept to ensure that we apply the law fairly and consistently and protect the rights of all Americans to freely practice their faith without government interference.

Amid the impact of Economic Fury, Iran’s currency has hit an all-time low. The Iranian people deserve a new era, which the corrupt and shambolic Iranian regime cannot provide. With their oil industry closing and their currency plummeting, it is past time for the Iranian regime to concede that the people of Iran deserve much better than the ruins of their current regime can provide.

This morning, I convened talks with Vice Premier He Lifeng to discuss @POTUS’ upcoming travel to China. Our meeting was both candid and comprehensive, and I stressed that China’s recent provocative extraterritorial regulations have a chilling effect on global supply chains. I look forward to a productive summit between President Trump and President Xi in Beijing.

U.S. Treasury Financial Literacy Fair Event https://twitter.com/i/broadcasts/1aKbdbPrbAoJX

It is unusual for soon-to-be-former Fed Chair Jay Powell to stay on at the @federalreserve. For someone who speaks so often of norms, his unilateral decision to stay flies in the face of tradition. Kevin Warsh will bring about a new day at the Fed, with accountability, management, and sound policymaking in the lead.

As part of Financial Literacy Month, @USTreasury continues to advance financial literacy and education across America. To learn more, visit https://www.mymoney.gov//

Grateful to @AMACforAmerica for joining us here at @USTreasury for a roundtable on financial literacy. We discussed the importance of equipping Americans across all stages of life with the tools to make informed financial decisions and protect themselves from fraud and exploitation. In coordination with the @IRSnews and thanks to @POTUS and Republicans’ @TaxCuts, increased education and fraud and scam detection efforts are ensuring tax relief reaches the right hands this filing season, delivering historic relief to over 34 million seniors and stopping abusive tax schemes that target older taxpayers.

https://home.treasury.gov/news/press-releases/sb0477

Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control designated 35 entities and individuals that oversee Iran’s shadow banking architecture and facilitate the movement of the equivalent of tens of billions of dollars. These networks allow Iran’s armed forces—including the Islamic Revolutionary Guard Corps—to access the international financial system to receive payment for illicit oil sales, purchase sensitive components for missiles and other weapons systems, and transfer money to Iran’s terrorist proxies.

https://home.treasury.gov/news/press-releases/sb0476

Treasury’s Office of Foreign Assets Control today alerted financial institutions to the sanctions risks associated with independent “teapot” oil refineries in China, which import Iranian oil to ultimately benefit the Iranian regime, military, and weapons programs. Financial institutions should be on notice that Treasury will leverage its full range of tools and authorities to hold accountable financial institutions that facilitate these transactions.

.@USTreasury has announced that it’s undertaking a Form 990 transparency initiative to expose hidden funding and strengthen oversight. Public money and tax-exempt status demand public accountability. We are ending the days of hiding fraud, abuse, and extremist activity behind complicated nonprofit arrangements. When bad actors misuse charitable structures, directors and officers should understand that transparency can lead to scrutiny, accountability, and liability under the law. https://t.co/wqQ9Xn0p77

https://home.treasury.gov/news/press-releases/sb0472