The federal government could soon own stakes in seven additional companies, bringing the total Trump administration portfolio of private companies to 30. 
The seven companies the administration is looking to take stakes in are part of the artificial intelligence supply chain and include GlobalFoundries, Kepler, Multibeam Corporation, Extropic, Thintronics, Obsidia Semiconductors, and Aeluma. The companies signed letters of intent, meaning additional negotiations need to take place before a deal is reached with the Commerce Department, the agency that will distribute the funds.
The seven new prospective deals would add to the federal government&#8217;s growing portfolio of equity stakes in private companies. Since taking office, the Trump administration has negotiated ownership stakes in companies spanning semiconductors, critical minerals, battery supply chains, energy, and advanced manufacturing.
The Trump administration’s equity stakes differ from those of past administrations, which would occasionally become a shareholder in private companies during periods of economic crisis.
During the 2008 financial crisis, the Bush administration launched the Troubled Asset Relief Program (TARP), which allowed the Treasury Department to inject capital into struggling financial institutions in exchange for preferred stock and warrants. General Motors was one of the largest beneficiaries of TARP, and during the Obama administration, the government took a 60.8% majority equity ownership stake in General Motors. The U.S. Treasury Department gradually sold its shares over the next few years, with the last shares sold in December 2013. Ultimately, the shares were sold at a <a href="https://home.treasury.gov/news/press-releases/jl2236">$10.5 billion</a> net loss. 
The Trump administration&#8217;s strategy differs from those interventions. Rather than taking a controlling stake to prevent the collapse of a company, the administration is acquiring minority, non-controlling ownership stakes in companies it views as strategically important to industrial policy and national security. The Trump administration also briefly considered taking a controlling stake in Spirit Airlines before ultimately deciding not to rescue the bankrupt airline. 
The majority of the government equity deals, 18 out of the 30, have been made possible by the Commerce Department, which administers the money through the CHIPS Act. The Trump administration&#8217;s policy represents an evolution from how the CHIPS Act was implemented under former President Joe Biden. 
The CHIPS Act gave the Commerce Department $39 billion to award to semiconductor companies through grants and other financial incentives. Under Biden, the Commerce Department primarily distributed grants, loans, and loan guarantees with opportunities for the department to claw back money if company project deadlines were not met.
The law also included clauses that allowed the federal government to share a portion of unexpected profits with taxpayers if projects substantially outperformed expectations. Recipients of the funds did not issue equity to the federal government. The Trump administration has retained the CHIPS funding program, but it changed the structure of some awards by negotiating non-controlling equity stakes. 
That structural change is being questioned in the courtroom. Intel shareholders <a href="https://www.law360.com/pulse/articles/2449468/intel-lutnick-face-investor-suit-over-government-s-10-stake">sued</a> the company&#8217;s board and the Commerce Department for acquiring an equity stake, arguing that while the CHIPS Act authorizes Commerce to provide grants, loans, and loan guarantees, it does not authorize the department to take equity in private companies. The lawsuit contends that &#8220;nothing in the CHIPS Act contemplates the U.S. government acquiring an equity interest&#8221; in recipients. The case, pending in Delaware, could become the first judicial test of the Trump administration’s equity stakes.

BRITAIN-SCOTLAND-US-EU-TRUMP

Trump Admin Eyes Government Stakes In 7 More Companies

Artificial Intelligence

CHIPS Act

Department of Commerce

Department of the Treasury

Intel

Trump Administraiton

The Treasury Department <a href="https://home.treasury.gov/news/press-releases/sb0572">dropped the hammer</a> Thursday on a sprawling network of terror-supporting hypocrites, slapping heavy sanctions on Muslim Brotherhood and Hamas operators who hide behind fake charities and underground banks to fund violent extremism.
The Trump administration isn&#8217;t playing games. The Office of Foreign Assets Control exposed a senior U.K.-based Egyptian Muslim Brotherhood official, alongside three money-laundering operatives and three front organizations secretly fueling Hamas’s military wing.
“The Trump administration will relentlessly pursue terrorists and those who finance them,” warned Treasury Secretary Scott Bessent. “Whether operating under the guise of charities, businesses, or underground financial networks, those who enable Hamas will be exposed, sanctioned, and held accountable.”
Thursday&#8217;s action pulled back the curtain on how these terror networks exploit donors while funneling cash directly into violent ops. Mahmoud al-Abyari, secretary general of the Muslim Brotherhood General Secretariat, was exposed for managing ties with Hamas and helping raise cash for previously sanctioned terror-linked groups like Hayat Yolu.
Entities like Indonesia’s Tujah Bulah Global (operating under the alias Seven Spikes Global) and the Gaza-based Madad Palestine Charitable Society claimed to gather cash for needy civilians. Instead, the money was secretly diverted straight into the pockets of Hamas fighters. Turkey-based El-Kahira for General Trading, owned by Khuldun Khamis Zakaria Alden and operated with shareholders Zaid and Abdullah Al-Jebouri, moved hundreds of thousands for Hamas. The operation didn&#8217;t stop at terror. It also provided underground fiat and crypto banking to violent European organized crime groups like Sweden’s notorious Foxtrot Network.
This crackdown marks the latest salvo in an aggressive, ongoing push by the Treasury Department to relentlessly pursue Muslim terrorist entities and dismantle their global cash pipelines.
Thursday&#8217;s blitz builds directly on Treasury enforcement actions from earlier this year, including the <a href="https://home.treasury.gov/news/press-releases/sb0415">March 12 dragnet</a>, when Treasury targeted four bogus non-profits, including Türkiye-based Ghazi Destek Dernegi and Indonesia’s KNRP, and captured Hamas documents proving that they were secretly funneling cash, supplies, and construction materials exclusively to armed militants in Gaza.
On <a href="https://home.treasury.gov/news/press-releases/sb0368">January 21,</a> Feds exposed six Gaza-based front groups posing as medical clinics, including the Waed Society and Al-Nur Society, that were directly integrated into Hamas&#8217;s security apparatus. Treasury also sanctioned the Popular Conference for Palestinians Abroad (PCPA) and UK organizer Zaher Khaled Hassan Birawi for orchestrating political propaganda and Gaza-bound &#8220;flotillas&#8221; at the direct behest of terror bosses.

Lebanon President Heads To Washington For White House Talks

Treasury Department Busts Global Muslim Brotherhood, Hamas Terror-Financing Network

Hamas

Muslim Brotherhood

Scott Bessent

The Treasury Department said Tuesday that it prevented nearly $100 million in welfare payments to dead people, thanks to new fraud prevention measures implemented by the Trump administration. 
Since March 2025, Treasury Secretary Scott Bessent said the department had identified 4,900 payments worth $99 million that were slated to go to dead people. The payments never went out because they were flagged for review after the department implemented new payment verification policies. 
“Treasury has delivered on a key promise of President Trump’s mandate to stop improper payments and fraud before money leaves the Treasury, and strengthen the integrity of the federal payment system,” Bessent <a href="https://home.treasury.gov/news/press-releases/sb0569">said</a> in a statement. “Together with Vice President Vance’s Task Force to Eliminate Fraud, this new safeguard addresses a longstanding vulnerability and helps ensure every dollar the federal government spends reaches its intended recipient.”
The payments were identified as the department screened 885 million payments worth about $2.77 trillion.
Bessent said the screening took place because the department has increased access to the Social Security Administration’s death master file, making it easier to identify deceased payees. He also pointed to the adoption of the Do Not Pay program, which <a href="https://fiscal.treasury.gov/payment-integrity/do-not-pay-dnp/about">requires</a> identity verification, eligibility confirmation, and bank account information before any payment is doled out. 
“Treasury will continue efforts to modernize the federal payment system, strengthen safeguards against fraud and improper payments, and protect taxpayer dollars,” Bessent said. 
In his first few months back in office, President Donald Trump signed an <a href="https://www.whitehouse.gov/presidential-actions/2025/03/protecting-americas-bank-account-against-fraud-waste-and-abuse/">executive order</a> aimed at empowering the Treasury Department to identify fraud. Trump’s executive order noted that the Government Accountability Office estimates that the government loses between $233 and $521 billion every year in fraud. 
“This order promotes financial integrity by enabling the Department of the Treasury to more easily conduct improper payment and fraud prevention screening prior to disbursing funds on behalf of agencies,” Trump directed in March 2025. “This order increases transparency and accountability by requiring agencies to provide the Department of the Treasury with the information needed to track transactions through the General Fund in greater detail.”
The Trump administration has brought a strong emphasis on combating fraud with the White House creating a new task force under Vice President JD Vance focused on tackling the issue. The task force opened up an investigation in Ohio after The Daily Wire <a href="https://www.dailywire.com/news/trumps-massive-anti-fraud-strike-force-lands-in-ohio?author=Luke+Rosiak&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=Trump’s+Massive+Anti-Fraud+Strike+Force+Lands+In+Ohio">reported</a> on spurious entities being paid millions for so-called home health care services.

IMG_5307

The Shocking Payments To Dead People Trump Just Stopped

Donald Trump

JD Vance

waste fraud abuse

Welfare

The Daily Wire got a first look at the latest way the Trump Administration is commemorating America’s 250th birthday. The Treasury Department is unveiling a new $100 bill with President Trump’s signature. The previous $100 bill, remodeled in 2009, featured the Treasury Secretary’s signature and the Treasurer’s signature, but on the new bill, President Trump’s signature will replace the Treasurer&#8217;s.
The $100 bill itself is printed from start to finish at the Bureau of Engraving and Printing in Washington, D.C., one of only two facilities in the country capable of producing U.S. currency. The bureau&#8217;s sister facility in Fort Worth, Texas, serves as a backup printing operation, allowing the government to continue producing currency if one facility were ever taken offline. Together, the two plants can print up to $1 billion in currency per day.
Production begins with printing the reverse side of the note before Benjamin Franklin&#8217;s portrait is added. The bills are printed in large sheets, assigned unique serial numbers, cut into individual notes, counted into bundles, and packaged into shipments worth millions of dollars before entering circulation. The Daily Wire also viewed previous generations of the $100 bill dating back to 1928, highlighting the evolution of the note&#8217;s security features and design.
The $100 bill is the latest object Trump has labeled with his name. On July 4, he unveiled Trump Accounts, a tax-advantaged investment program for American children dawned with his surname. Earlier, he also placed his name on the John F. Kennedy Center after taking control of its board, renaming it the Donald J. Trump Center for the Performing Arts. A federal appeals court later ruled that only Congress had the power to rename an institution that was dedicated to a living memorial for President John F. Kennedy. 
The Trump branding predates his presidency. As a private citizen, Trump built an empire around his name, creating Trump Tower, Trump hotels, Trump Turnberry golf resort in Scotland, Trump Vodka, Trump Ice bottled water, Trump University, Trump Magazine, Trump mattresses, and dozens of other products and properties.

Money Pile $100 dollar bills

WATCH: How President Trump’s New $100 Bill Is Made

Money

The U.S. Department of the Treasury <a href="https://home.treasury.gov/news/press-releases/sb0470">announced</a> Thursday that the Internal Revenue Service (IRS) will revise Form 990 to increase transparency and curb misconduct within tax-exempt organizations. The move specifically targets fiscal sponsorship arrangements, government grants, and contracts—mechanisms critics argue have been exploited by &#8220;dark money&#8221; networks to operate without public scrutiny.
“We are ending the days of hiding fraud, abuse, and extremist activity behind complicated nonprofit arrangements,” said Treasury Secretary Scott Bessent. He warned that directors and officers of organizations misusing charitable structures would face increased &#8220;scrutiny, accountability, and liability under the law.&#8221;
The announcement comes amid intensifying investigations into prominent liberal networks like Tides and Arabella Advisors. The Washington Free Beacon <a href="https://freebeacon.com/democrats/same-game-different-name-radioactive-arabella-advisors-announces-rebrand-to-sunflower-services-as-prominent-donors-flee/">reported</a> in November 2025 that Arabella had rebranded its fiscal sponsorship arm as Sunflower Services “amid a series of high-profile investigations into its finances and billionaire Bill Gates&#8217;s decision to end a longstanding partnership with the organization.”
The Treasury’s focus on fiscal sponsorships—where a 501(c)(3) acts as an &#8220;umbrella&#8221; for projects without their own tax-exempt status—directly addresses concerns raised by the House Oversight Committee. Last month, Chairman James Comer (R-KY) said the Committee was “continuing to investigate reports the Sixteen Thirty Fund, Arabella Advisors (now operating as Sunflower Services), and others have worked to circumvent federal campaign finance disclosure requirements.”
Comer said his <a href="https://oversight.house.gov/release/comer-continues-to-investigate-dark-money-groups-efforts-to-evade-campaign-finance-laws/#:~:text=Comer%20Continues%20to%20Investigate%20Dark,Release%20Published%3A%20Mar%2020%2C%202026">letter</a> was “part of the House Oversight Committee’s larger effort to investigate powerful, dark money groups skirting campaign finance disclosure laws enforced by the Federal Election Commission (FEC) and the Department of Justice (DOJ) while obscuring the distinction between activities of legitimate journalists from campaign operatives. Online influencers invited to join the Chorus program reportedly receive up to $8,000 per month to amplify Democratic messaging online but must sign contracts enforcing strict secrecy and imposing limitations on the types of political content they can produce.”
The American Accountability Foundation (AAF) filed a formal <a href="https://freebeacon.com/wp-content/uploads/2025/11/NVF-IRS-Complaint.pdf">IRS complaint</a> in November 2025 alleging that the New Venture Fund (NVF), an Arabella-managed entity, engaged in improper &#8220;excess benefit transactions.&#8221; AAF wrote, “We have reason to believe that NVF has solicited hundreds of millions of dollars in donations from the public, a substantial portion of which have been diverted to NVF’s founder and other senior officers through an administrative services agreement with Arabella Advisors LLC (‘Arabella Advisors’), which was controlled by those same individuals. If so, NVF has engaged in improper excess benefit transactions by paying Arabella Advisors more than $200 million since 2006.”
The Treasury&#8217;s new reporting requirements aim to track where public money actually goes. NGO Monitor <a href="https://ngo-monitor.org/funder/tides-network/">reported</a> in March 2025, “Since 1976, Tides has ‘scaled more than 1400 social ventures, fueled social change in 120+ countries, and mobilized over $3 billion for impact.’ A number of these social ventures demonize Israel, promote antisemitic rhetoric, and lead BDS campaigns.”
“If an organization receives public funds,” said Acting IRS Chief Counsel Ken Kies, “it should be prepared to show who controls the money and where it goes.”

Treasury Department Announces IRS Overhaul To Target ‘Shadow’ Leftist Nonprofit Networks

Dark Money

Executive

Money In Politics

Politics

Tax-exempt organizations

Treasury Secretary Scott Bessent has officially launched “Operation Economic Fury,” a sweeping, aggressive campaign aimed at the total economic isolation of the Iranian regime.
Describing the measures as the &#8220;financial equivalent&#8221; of a military bombing campaign, Bessent signaled a return to a strict “maximum pressure” stance, targeting illicit oil networks, terror financiers, and global banks that continue to facilitate Tehran’s activities.
The announcement coincided with a <a href="https://home.treasury.gov/news/press-releases/sb0443">massive enforcement action</a> by the Office of Foreign Assets Control (OFAC), which sanctioned more than two dozen individuals, companies, and vessels. At the center of the crackdown is the multi-billion dollar petroleum empire of Mohammad Hossein Shamkhani, the son of the late senior Iranian security official Ali Shamkhani.
According to the Treasury, the Shamkhani network has enmeshed itself in the global shipping industry using a sophisticated web of front companies in the United Arab Emirates, the Marshall Islands, and India. These firms, including Oriel Group and House of Shipping, allegedly provided a “veneer of legitimacy” while managing a shadow fleet that generates billions of dollars for both the Iranian and Russian regimes.
“Treasury is moving aggressively with Economic Fury by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people,” Secretary Bessent stated.
The operation also took aim at a complex &#8220;oil-for-gold&#8221; scheme involving Lebanese Hizballah financier Seyed Naiemaei Badroddin Moosavi. In coordination with Homeland Security Investigations (HSI), the Treasury revealed that Moosavi facilitated the smuggling of Iranian oil to the former Venezuelan regime under Nicolás Maduro in exchange for gold. This gold was then allegedly moved via Mahan Air to Hizballah members in Tehran before being laundered through Turkey.
In a move that will likely tighten global energy markets, Bessent confirmed that the United States will not renew the general licenses that allowed for the purchase of Iranian and Russian oil. These waivers, which allowed &#8220;oil on the water&#8221; prior to March 11 to reach its destination, are set to expire on April 19, 2026.
Bessent dismissed the need for further relief, arguing that the temporary measures intended to stabilize prices during recent regional conflicts have served their purpose. &#8220;All that oil has been used,&#8221; Bessent told reporters, signaling that the administration is no longer willing to tolerate leaks in the sanctions regime.
Perhaps the most significant escalation of Operation Economic Fury is the administration&#8217;s willingness to deploy secondary sanctions. These measures target third-party entities — such as foreign banks — that do business with sanctioned Iranian actors, effectively forcing them to choose between the Iranian market and access to the U.S. financial system.
Bessent revealed that the Treasury has already issued formal warnings to two major Chinese banks. Historically, China has purchased upwards of 90% of Iran’s exported oil.
&#8220;If we can prove that there is Iranian money flowing through your accounts, then we are willing to put on secondary sanctions,&#8221; Bessent <a href="https://www.youtube.com/watch?v=rgDR6obU-CI">warned</a>. He noted that the U.S. is seeking deeper cooperation from Gulf Cooperation Council (GCC) neighbors to freeze the assets of the Islamic Revolutionary Guard Corps (IRGC) and other leadership figures.
Addressing concerns from the shipping industry regarding the volatile Strait of Hormuz, Bessent discussed a potential U.S. government reinsurance program. Highlighting that insurance rates from Lloyd&#8217;s of London remain &#8220;skyrocketing,&#8221; he suggested the U.S. could provide a &#8220;normalized level&#8221; of insurance to encourage commercial traffic once the lanes are declared safe.
&#8220;Exactly,&#8221; Bessent replied when asked if this was an expansion of the war through economic rather than kinetic means. With over 1,000 entities sanctioned since the start of the current campaign, Operation Economic Fury marks the administration’s most decisive effort yet to bankrupt the Iranian state&#8217;s military and proxy capabilities.

White House daily press briefing

‘Operation Economic Fury’ Moves Against America’s Enemy Without A Single Shot

Global Politics

Iran

World

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on Thursday against four international nonprofit organizations identified as &#8220;sham charities&#8221; used to bankroll Hamas’s military wing.
The <a href="https://home.treasury.gov/news/press-releases/sb0415">action</a> targets three organizations based in Turkey — Ghazi Destek Dernegi (GDD), Hayat Yolu, and Palestinian White Hands — as well as the Indonesia-based Komite Nasional Untuk Rakyat Palestina (KNRP). Treasury officials allege these groups pose as humanitarian entities while covertly siphoning donations to the Izz al-Din al-Qassam Brigades, Hamas&#8217;s military apparatus.
According to Treasury investigators, these organizations leverage global networks to generate revenue for terrorist operations. Internal Hamas documents seized by authorities reportedly show that GDD collaborated with previously sanctioned entities to fund construction projects benefiting the group. Similarly, Palestinian White Hands was found to be integrated into the Hamas military security apparatus.
In Indonesia, KNRP is accused of coordinating directly with Hamas to distribute materials intended exclusively for fighters. Treasury also identified Hayat Yolu as an operational and financial hub for the Muslim Brotherhood.
“Hamas continues to finance its military wing by exploiting sham charities to support terrorist operations,” said Secretary of the Treasury Scott Bessent. “The Treasury Department will not allow Hamas to misuse the charitable sector for its violent aims.”
Today’s designations build on a series of recent actions aimed at dismantling Hamas’s financial infrastructure. Previous rounds of sanctions occurred on <a href="https://home.treasury.gov/news/press-releases/sb0368">January 21, 2026</a>, and <a href="https://home.treasury.gov/news/press-releases/sb0162">June 10, 2025</a>. Officials noted that Hamas frequently preys on the sympathies of international donors, redirecting funds intended for Palestinian civilians to prolong the regional conflict.
Hamas has been designated by the U.S. as a Foreign Terrorist Organization since 2001. Today’s enforcement was conducted under Executive Order 13224, which targets terrorists and those providing them with material support.
As a result of these sanctions, all property and interests belonging to these entities within the U.S. or controlled by U.S. persons are blocked. Americans are generally prohibited from engaging in transactions with the designated groups. Foreign financial institutions that facilitate significant transactions for these groups risk losing access to the U.S. financial system.

Trump Admin Shuts Down Sham Charities Caught Bankrolling Hamas

U.S. Treasury Sanctions Four Sham Charities Linked to Hamas Financing

The Treasury Department’s Office of Foreign Assets Control took decisive action on Thursday against individuals channeling tens of millions of dollars from Iran to Hezbollah, the Iranian-backed terrorist group that dominates Lebanon and threatens Israel.
The sanctions, issued under Executive Order 13224, targeted Hezbollah operatives such as Ossama Jaber, Ja’far Muhammad Qasir, and Samer Kasbar — key players in the terrorist organization’s sprawling financial network. Using Lebanon’s cash-based economy and unscreened exchange houses, they laundered more than a billion dollars since January 2025, funding terror operations, weapons smuggling, and Hezbollah’s entrenched control over Lebanese politics.
The Trump administration framed these sanctions as part of a clear policy: choking off Hezbollah’s financial oxygen to isolate Iran and protect American allies. Treasury Under Secretary John Hurley declared that Lebanon could only achieve freedom and stability by severing its ties to Tehran’s terror machine, <a href="https://home.treasury.gov/news/press-releases/sb0308">saying,</a> “Lebanon has an opportunity to be free, prosperous, and secure—but that can only happen if Hezbollah is fully disarmed and cut off from Iran’s funding and control. We will work with our Lebanese partners to create a resilient economy that puts the interests of all Lebanese citizens front and center.” This action followed a consistent Trump doctrine — one that identifies Hezbollah as an Iranian tentacle and treats its dismantlement as central to peace in the region.
This focus on direct enforcement and partnership contrasts starkly with the Biden-Harris administration’s record of strategic leaks and policy hesitation that undermined Israel’s sovereignty and security. During Biden’s tenure, Washington repeatedly betrayed Jerusalem’s trust by divulging sensitive Israeli operations to the press. In September 2024, as Israel prepared a limited ground invasion of Lebanon to neutralize Hezbollah along its northern border, Biden officials <a href="https://www.timesofisrael.com/liveblog_entry/israel-said-to-inform-us-of-plans-for-imminent-limited-ground-op-in-lebanon/">leaked the plans</a> to The Washington Post, handing Hezbollah critical information and prompting public backlash. That act mirrored earlier episodes — such as exposing Israeli strikes on Iranian interests in 2021 and revealing covert cooperation with allies during the Obama-Biden years — each leak serving to cripple Israeli initiatives while shielding Iran from reprisals.
For years, Democratic administrations under Biden and Obama displayed the same pattern: rhetorical support for Israel paired with behind-the-scenes meddling. The Biden team joined United Nations efforts to shield UNRWA employees who aided Hamas, delayed the congressional notification of weapons transfers to Israel, and warned the Israel Defense Forces not to take Rafah, Hamas’s last bastion.
These actions echoed Barack Obama’s tenure, when U.S. <a href="https://www.frontpagemag.com/obamas-leaks-sabotaging-israels-defense-joseph-klein/">leaks</a> sabotaged Israel’s counter-Iran strategy.
By sanctioning Hezbollah’s financiers and tightening the noose on Iran’s proxies, the Trump administration demonstrates that America’s words are backed by action, not whispers to the press. While the Biden-Harris team played politics with leaks that endangered an ally, Trump draws a bright line: the enemies of Israel and the enemies of freedom are one and the same — and both will be confronted without apology.

Treasury Secretary Scott Bessent

Trump Admin Cracks Down On Hezbollah’s Money Men

Hezbollah

Lebanon

Terrorism

The United States placed sanctions on Russia’s two largest oil companies on Wednesday after plans for an expected meeting between presidents Donald Trump and Vladimir Putin fell through.
The sanctions, the first the Trump administration has leveled against Russia since taking over the White House in January, are a signal that the president has run short on patience with Moscow. Trump has called for the battle lines to be frozen in Ukraine and for the two sides to meet for peace talks.
The sanctions target Russian oil giants Rosneft and Lukoil and dozens of their subsidiaries, but will likely have little direct impact on the money that flows into Russia’s treasury from its substantial energy industry. While the United States did billions of dollars worth of <a href="https://www.cnn.com/2025/08/14/europe/us-europe-trade-business-with-russia-intl">trade</a> with Russia last year, the majority of that was for fertilizer, precious metals, uranium, and plutonium.
The sanctions package is a signal to other countries purchasing Russian oil and natural gas that the Trump administration may soon crack down on buyers, as well.
“[E]ngaging in certain transactions involving the persons designated today may risk the imposition of secondary sanctions on participating foreign financial institutions,” the <a href="https://home.treasury.gov/news/press-releases/sb0290">announcement</a> from the Treasury Department states. “[The Treasury] can prohibit or impose strict conditions on opening or maintaining, in the United States, a correspondent account or a payable-through account of a foreign financial institution that knowingly conducts or facilitates any significant transaction on behalf of a person who is designated pursuant to the relevant authority.”
China remains one of Moscow&#8217;s largest buyers for energy, though India, another major purchaser of Russian oil, has already promised to cut back its reliance on Russian energy.
The European Union <a href="https://www.reuters.com/world/china/eu-approves-19th-package-russian-sanctions-including-lng-ban-2025-10-22/">joined</a> the United States with a sanctions package targeting Russian energy, as well, including Rosneft. The E.U. sanctions package may bring more direct pain to Moscow’s coffers because of the increased reliance of Europe on Russian oil and natural gas exports.
“Appreciated this evening’s call with [Bessent] and the Treasury decision to sanction major Russian oil companies in the face of Russia’s lack of commitment to the peace process,” said E.U. Commission President Ursula von der Leyen in a <a href="https://x.com/vonderleyen/status/1981109768581243195">post</a> on X. “With the imminent adoption of the EU’s 19th package, this is a clear signal from both sides of the Atlantic that we will keep up collective pressure on the aggressor.”
The United Kingdom approved a similar sanctions package on Russian energy last week in what has become a wave of financial penalties targeting Russia’s most important export industry.

Trump’s Sanctioning Russian Energy. Here’s What To Know.

What To Know About Trump’s Sanctions Package On Russian Energy

Russia

Sanctions

United States

WASHINGTON — President Joe Biden&#8217;s administration mobilized the federal government through the Treasury Department to get out the vote in the 2022 midterms, documents shared with The Daily Wire show, with particular focus on low-income or non-English speaking voters.
The news raises questions about the federal government&#8217;s role in elections, a senior White House official told The Daily Wire, arguing that using the Treasury Department to get out the vote is &#8220;certainly outside the scope of &#8221; its defined purpose.
&#8220;The federal government has a very carefully defined role in the nation&#8217;s elections,&#8221; that official shared, noting that Congress enacted the &#8220;Help America Vote Act&#8221; and the &#8220;National Voter Registration Act&#8221; to modernize election systems and increase voter registration. 
&#8220;But under President Biden&#8217;s leadership, we saw every single aspect of the federal government sort of turned into a massive voter mobilization, voter registration campaign, even for those departments and agencies that are not historically or by statute even involved in the election process,&#8221; the official shared. &#8220;And so that&#8217;s what happened with the IRS and the Treasury Department.&#8221; 
President Biden issued an executive order in March 2021 on &#8220;Promoting Access to Voting&#8221; requiring government agencies to encourage voter registration and voter participation by educating the public on how to cast a ballot, the electoral process, and how to vote by mail.
Under that executive order, the IRS&#8217;s Stakeholder Partnerships, Education and Communication (SPEC) requirement includes encouraging SPEC Partners to provide information to specific demographics of taxpayers at local Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites, according to White House documents viewed by The Daily Wire.
VITA is a program designed to assist low to moderate-income taxpayers, but a key component focuses on non-English speakers. TCE applies to the elderly.
What information was shared with these specific demographics at local sites? How and where to register to vote, how and where to vote, how to engage in other non-partisan efforts that promote voter participation, and more, according to a White House document on &#8220;Guidance for Promoting Voter Registration at VITA/TCE Sites for SPEC Partners&#8221; obtained by The Daily Wire.
The official who spoke with The Daily Wire highlighted that this focus on specific demographics is particularly problematic —  and that the Biden administration plan was using the federal government to do something that was &#8220;fundamentally a responsibility to states.&#8221; 
&#8220;It&#8217;s something that the US Constitution hands to the states as their sacred obligation,&#8221; the official explained. &#8220;What the IRS did was to interpret that order to apply, not even to every taxpayer, but only to those taxpayers that were primarily served by certain tax preparers and certain tax agents that they deemed more likely to be associated with politically favored demographics, those that were working with Americans from early on in urban areas and so forth.&#8221;
The Treasury Department also specifically indicated to its employees that they should use internal communications channels to encourage employees to vote and to register to vote. On November 21, 2021, the Treasury&#8217;s Acting Chief Human Capital Officer told bureau Human Resources officers that &#8220;no later than 60 days prior&#8221; to national general elections, Treasury bureaus should use their internal channels to remind employees of their right to vote as well as encourage voter registration and voter participation.
They were directed to send the following email:
<blockquote>Dear staff,
Federal elections are foundational to the American system of government. Every two years in November we come together to elect our leaders and congressional representatives. This year federal election day is Tuesday, November 8, however in many jurisdictions early voting and absentee voting are allowed and may begin as much as 46 days in advance of the official election day.
I encourage you to visit www.vote.gov to learn about voting in your state. This site will help you learn how to register or check your registration status. It also provides important deadlines and associated dates.
I also want to share recent changes from the Office of Personnel Management (OPM) related to leave for voting. On March 24, OPM issued updated guidance that directs agencies to provide federal employees up to four hours of administrative leave to vote in federal, state, local, tribal, and territorial elections. The updated guidance also authorizes federal employees up to four hours of administrative leave per year to serve as non-partisan poll workers or observers.
I thank you for your service, and encourage you to exercise your right to vote.</blockquote>
The current White House maintains that under President Donald Trump&#8217;s leadership, the federal government is no longer serving as &#8220;a massive partisan leading voter registration campaign.&#8221; And the release of documents and information about what went on during President Biden&#8217;s administration is a fulfillment of the executive orders that Trump signed in February and March.
&#8220;The roles and functions of the IRS and the Treasury Department are returning to what taxpayers pay them to do, which is manage the nation&#8217;s finances and manage the enforcement of our tax law,&#8221; the White House official explained to The Daily Wire, &#8220;Not once has an American taxpayer paid for the IRS to be a voter registration portal or a voter registration entity, and unfortunately the Biden administration thought that they could force the federal government to do that.&#8221;

President Biden Delivers Remarks On Attempted Assassination Of Former President Trump

EXCLUSIVE: How The Biden Admin Used The Treasury Dept To Get Out The Vote

2024 Election

Elections

Joe Biden

The Trump administration is drawing attention to an often overlooked data point that suggests Trump’s policies, and the passage of the &#8220;Big, Beautiful Bill,&#8221; have laid the foundation for an economic boom.
Treasury Department counselor Joe Lavorgna says that Federal Reserve data tracking the production of business equipment shows positive signs for future economic growth. Those signs come as President Donald Trump appears to be growing in popularity among business owners.
Economists view the figure that Lavorgna points to as a proxy for capital expenditure (CapEx), which encompasses most investments made by businesses in hard assets that are expected to increase production later on. Those investments could be new buildings or updated equipment, such as better computer software.
“What we observed in the first quarter is that equipment production rose at a 23% rate. Now, surprisingly, when we got the GDP data, we saw a 24% increase. Really, really strong, really exciting news,” Lavorgna told The Daily Wire.
Lavorgna contributed the surge in equipment production to the &#8220;One Big, Beautiful Bill&#8221; that passed Congress and was signed into law on July 4, though it authorized companies to expense business investments retroactively back to Inauguration Day.
“So, companies – getting very excited about the pro-growth policies that President Trump was putting forward – took that initiative in the first quarter, [and] increased production of business equipment,” the Trump administration economist said.
“Importantly though, in Q2 we saw another large gain in business equipment production, up almost 11%. That is a really strong increase following a boom in the first quarter,” he continued. “What that means is before the One Big Beautiful Bill became legislation, we had an almost 17% annualized increase over those two quarters of business equipment production.”
“That is remarkable,” said Lavorgna.
In the first half of 2025, CapEx surged 16.6%, according to Treasury Department data. That leap constitutes the largest two-quarter rally in CaPex, excluding the pandemic years, since 1997.
“The One Big Beautiful Bill jumpstarted investment that’s lifting productivity, wages, and living standards. Blue collar paychecks are rising fast — second only to @realDonaldTrump’s first term — and the best is yet to come,” Treasury Secretary Scott Bessent noted in a post on X.
<blockquote class="twitter-tweet">
Thanks to <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a>’s pro-growth, America First agenda, we’re seeing a CapEx Comeback. Business equipment production jumped 11% annualized in Q2 after a huge 23% gain in Q1 — the strongest back-to-back growth since 1997.
CapEx is up 16.6% in the first half of 2025, signaling a… <a href="https://t.co/CcYf7QR9ov">pic.twitter.com/CcYf7QR9ov</a>
— Treasury Secretary Scott Bessent (@SecScottBessent) <a href="https://twitter.com/SecScottBessent/status/1947627779354193949?ref_src=twsrc%5Etfw">July 22, 2025</a></blockquote>
Recent polling numbers suggest that business owners are rallying behind Trump’s handling of the economy after showing pessimistic attitudes earlier this year. On Tuesday, the latest results from the quarterly CNBC-SurveyMonkey Small Business Survey results <a href="https://www.cnbc.com/2025/07/22/main-street-business-confidence-rises-trump-tariffs-economy.html">showed</a> 46% of small business owners rate the U.S. economy as “excellent” or “good” – a leap of 16 percentage points since the Q2 survey results showed that number at 30%.

CapEx Comeback: This Often Overlooked Data Point Suggests U.S. Economy Is Primed To Boom

Economy

Trump Administration

The Trump administration identified three Mexican financial institutions that it says are complicit in laundering funds on behalf of criminal cartels that traffic fentanyl into the United States.
Two banks and one brokerage firm, which collectively manage $22 billion in assets, were identified by the Treasury Department on Wednesday as key players in the cartels’ fentanyl trafficking operations. The federal agency specifically accused the three institutions of laundering millions of dollars on behalf of the cartels and facilitating payments for the precursor chemicals for fentanyl, and now prohibits American financial institutions from carrying out certain transactions to and from the three Mexican institutions.
“Financial facilitators like CIBanco, Intercam, and Vector are enabling the poisoning of countless Americans by moving money on behalf of cartels, making them vital cogs in the fentanyl supply chain,” Treasury Secretary Scott Bessent <a href="https://home.treasury.gov/news/press-releases/sb0179">charged</a>.
“Through the first use of this powerful authority, today’s actions affirm Treasury’s commitment to using all tools at our disposal to counter the threat posed by criminal and terrorist organizations trafficking fentanyl and other narcotics.”
The Treasury Department specifically explained that a CIBanco employee authorized the creation of an account by a Gulf Cartel member who purportedly intended to launder $10 million. The executive agency also warned that the bank has a “long-standing pattern of associations, transactions, and provision of financial services” with the Gulf Cartel, Jalisco New Generation Cartel (CJNG), and the Beltran-Leyva Cartel.
Intercam executives are believed to have met with CJNG members to discuss money laundering schemes, which included processing transactions to and from China. Mexican companies also used Intercam to send more than a million dollars to a Chinese company with ties to an individual who shipped fentanyl precursor chemicals to Mexico.
Vector is similarly believed to assist in the procurement of those precursor chemicals on behalf of both the Gulf and Sinaloa Cartels. The federal agency asserts that a money launderer working on behalf of the Sinaloa Cartel moved $2 million through Vector from 2013 to 2021.
The move marks another step in the Treasury’s campaign to <a href="https://www.dailywire.com/news/exclusive-treasury-official-reveals-how-the-trump-admin-is-choking-off-cartels-cash-flow?author=Spencer+Lindquist&amp;category=News&amp;elementPosition=undefined&amp;row=0&amp;rowType=Vertical+List&amp;title=EXCLUSIVE%3A+Treasury+Official+Lays+Out+How+Trump+Is+Choking+Off+Cash+Flow+To+Cartels">choke off funds</a> from the criminal cartels. The agency has unveiled numerous sanctions against leaders and personnel from the Sinaloa Cartel, Tren de Aragua, and Cartel del Noreste.
“If the money is not flowing back south, then there’s less of an incentive to bring the drugs and the guns and some of the illicit activity up to the north,” Deputy Secretary of the Treasury Michael Faulkender told The Daily Wire.

Menu