Washington. Brad Smith, a veteran U.S. Treasury Department employee, will be acting undersecretary for terrorism and financial intelligence, taking on the role of overseeing the department’s sanctions policy, one of Washington’s most widely used foreign policy tools, a Treasury spokesman told Reuters.
Why is it important?
Smith’s appointment comes as the United States seeks to increase pressure on Russia over its invasion of Ukraine in 2022 and maintains strong punitive measures against countries such as Iran.
Reuters first reported that Smith would take over.
Context
Smith will take over the acting role following Brian Nelson’s departure on Friday, the spokesperson said. Sources confirmed that Nelson is leaving to work on Vice President Kamala Harris’ presidential campaign.
Smith will focus on continuing to degrade Russia’s ability to wage war in Ukraine, the spokesman said, as well as cutting off funding to Iran and its associated groups, combating the illicit flow of fentanyl into the United States and implementing regulatory efforts.
Smith was appointed director of the Treasury’s Office of Foreign Assets Control in 2023. He previously served as deputy director and chief legal counsel for the office.
Under President Joe Biden, Smith has worked to push Washington to impose thousands of sanctions against Russia over its invasion of Ukraine, including designations of Russian banks, oligarchs, President Vladimir Putin and companies in China, Turkey and elsewhere.
The Biden administration has also stepped up anti-narcotics measures and sought to modernize the use of sanctions.
During the previous administration of President Donald Trump, the office issued sweeping measures against Iran and Venezuela, among others.
#Treasury #appoints #acting #top #official
– 2024-08-10 16:00:54
