WASHINGTON — Based on the Administration’s review of the novel legal and policy issues raised by use of financial sanctions against financial and commercial activity occurring within evolving technology and legal environments, we have exercised our discretion to remove the economic sanctions against Tornado Cash as reflected in Treasury’s Monday filing in Van Loon v. Department of the Treasury.

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WASHINGTON — The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating a “teapot” oil refinery and its chief executive officer for purchasing and refining hundreds of millions of dollars’ worth of Iranian crude oil, including from vessels linked to the Foreign Terrorist Organization, Ansarallah, commonly known as the Houthis, and the Iranian Ministry of Defense of Armed Forces Logistics (MODAFL).

“Teapot refinery purchases of Iranian oil provide the primary economic lifeline for the Iranian regime, the world’s leading state sponsor of terror,” said Secretary of the Treasury Scott Bessent. “The United States is committed to cutting off the revenue streams that enable Tehran’s continued financing of terrorism and development of its nuclear program.”

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WASHINGTON – The United States Department of the Treasury and Internal Revenue Service (IRS) today announced that the two IRS whistleblowers who had been wrongfully targeted for investigating Hunter Biden’s evasion of taxes on his $8.3 million income would be brought in to the U.S. Department of Treasury as Senior Advisors.

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WASHINGTON — The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating Iran’s Minister of Petroleum, Mohsen Paknejad, who oversees the export of tens of billions of dollars’ worth of Iranian oil and has allocated billions of dollars’ worth of oil to Iran’s armed forces for export. OFAC is also designating several entities in multiple jurisdictions, including the People’s Republic of China (PRC) and India,   more...

The Justice Department, on behalf of the Environmental Protection Agency (EPA), dismissed a lawsuit against Denka Performance Elastomer LLC (Denka) concerning its neoprene manufacturing facility in LaPlace, Louisiana. The dismissal fulfills President Trump’s day one executive order, “Ending Radical and Wasteful Government DEI Programs and Preferencing,” signed to eliminate ideological overreach and restore impartial enforcement of federal laws. Concurrently, EPA withdrew its referral of the case to the Justice Department to align with Administrator Lee Zeldin’s pledge to end the use of “environmental justice” as a tool for advancing ideological priorities.

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The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either. The Treasury Department will further be issuing a proposed rule making that will narrow the scope of the rule to foreign reporting companies only. Treasury takes this step in the interest of supporting hard-working American taxpayers and small businesses and ensuring that the rule is appropriately tailored to advance the public interest.

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