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Treasury No. 2 Adeyemo sees sanctions as strong policy tool for years to come

Published 04/01/2021, 08:53 PM
Updated 04/01/2021, 08:55 PM
© Reuters. FILE PHOTO: Adewale Adeyemo confirmation hearing to be Deputy Secretary of the Treasury

© Reuters. FILE PHOTO: Adewale Adeyemo confirmation hearing to be Deputy Secretary of the Treasury

WASHINGTON (Reuters) - U.S. Deputy Treasury Secretary Wally Adeyemo on Thursday kicked off a review of U.S. economic and financial sanctions, underscoring the need to use them as a strong, viable policy tool, the Treasury Department said in a statement.

Adeyemo met with academics and other experts on sanctions, who affirmed the role of U.S. sanctions as a key instrument of U.S. national security and foreign policy, the statement said.

"Deputy Secretary Adeyemo noted that sanctions remain a potent and valuable tool for policymakers and as programs are evaluated, it is critical to keep an eye toward ensuring they remain a strong, viable option in years to come," it said.

Participants, including former Representative Howard Berman, Paula Dobriansky, a former senior State Department official, and Adam Szubin, a former senior Treasury official, agreed about the "value of coordination with allies and partners," it said.

The Biden administration has started reviews of Trump administration policies on China and trade and its extensive use of financial and economic sanctions.

Adeyemo, who was confirmed by the Senate as Treasury Secretary Janet Yellen's deputy on March 25, told senators last month that he believed Iran should only enjoy sanctions relief if it took the appropriate steps to resume compliance with its commitments under the 2015 nuclear accord.

© Reuters. FILE PHOTO: Adewale Adeyemo confirmation hearing to be Deputy Secretary of the Treasury

He said Treasury would look carefully at "any Iranian efforts to evade sanctions and abuse the international banking system" to fund terrorist activities, and would use all available tools to disrupt that support.

Latest comments

How "progressive" of him
Hypocrites and liars..
So they agree with and are continuing President Trump's trade policies. Not sure how Democrat and Biden supporters will take the news, under President Trump most were critical of sanctions. Seems to me the only things they've done differently is open the southern border, cause layoffs, and bomb Syria.
So basicalky what Trump was already doing, except that democrats love it now.
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