Banks Seek Biden’s Aid After Trump’s 1,000-Sanctions-a-Year Pace
- Treasury review to determine cost of sanctions for economy
- Review expected to be complete in summer, official says
Source: Getty Images
This article is for subscribers only.
Wall Street firms have urged the Biden administration to ease the industry’s burden in complying with a flood of financial sanctions the U.S. has levied in recent years as a primary tool of foreign policy toward Russia, China, Iran and other adversaries.
Financial services industry groups have asked for more transparency and flexibility to target big-money evasion of the restrictions, as the Treasury Department undertakes an exhaustive review of its sprawling sanctions programs, led by Deputy Secretary Wally Adeyemo.