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Senate Democrats Dismiss Treasury’s Sanctions Review as Missed Opportunity

By Valentina Pasquali

The Treasury Department's six-month review of U.S. sanctions programs, asset freezes, prohibitions on correspondent services and other financial restrictions is narrow in scope and lacks depth, Democratic lawmakers said Tuesday. In a hearing, members of the Senate Banking Committee told Treasury Deputy Secretary Wally Adeyemo that by focusing solely on the Office of Foreign Assets Control's technical implementation of sanctions while disregarding broader diplomatic and security objectives, Treasury's review fell fall short of the comprehensive, or even useful, analysis expected by Congress. "Most people would agree that sanctions are a foreign policy tool, but this review is a Treasury-centric product...

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