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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Breaking News

Breaking News

Chinese corporations face U.S. penalties over fentanyl.

Packets of fentanyl mostly in powder form and methamphetamine, which U.S. Customs and Border Protect... Packets of fentanyl mostly in powder form and methamphetamine, which U.S. Customs and Border Protection say they seized from a truck crossing into Arizona from Mexico, is on display during a news conference at the Port of Nogales, Arizona, U.S., January 31, 2019. Courtesy U.S. Customs and Border Protection/Handout via REUTERS
Packets of fentanyl mostly in powder form and methamphetamine, which U.S. Customs and Border Protect... Packets of fentanyl mostly in powder form and methamphetamine, which U.S. Customs and Border Protection say they seized from a truck crossing into Arizona from Mexico, is on display during a news conference at the Port of Nogales, Arizona, U.S., January 31, 2019. Courtesy U.S. Customs and Border Protection/Handout via REUTERS

On Friday, the U.S. Treasury Department sanctioned two Chinese enterprises for exporting precursor chemicals to Mexican drug gangs to make fentanyl for the U.S.

The Treasury named five Chinese and Guatemalan fentanyl producers.

“Illicit fentanyl kills tens of thousands Americans annually,” said Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson.

“Treasury, as part of the whole-of-government effort to respond to this crisis, will continue vigorously apply our tools to prevent the transfer of precursor chemicals and machinery necessary to produce this drug,” Nelson said.

The Treasury sanctioned Chinese chemical companies Wuhan Shuokang Biological Technology Co Ltd, Suzhou Xiaoli Pharmatech Co Ltd, and four Chinese individuals.

The Treasury says a New York federal grand jury charged three with conspiracy, fentanyl importation, and money laundering this month.

The Treasury also went against a Guatemalan broker who sold Mexican drug traffickers fentanyl precursor chemicals.

Mexico and the U.S. pledged to battle fentanyl trafficking Thursday. Both governments have requested China stop precursor chemical shipments to prevent the synthetic drug that killed thousands of Americans.


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