The US Treasury imposes sanctions on a powerful Mexican cartel, according to Yellen, with the aim of making business operations 'extremely challenging'.

On "Your World," Treasury Secretary Janet Yellen discussed the measures the Biden administration is implementing to combat fentanyl and drug smuggling into the US.

The Treasury Department, in collaboration with the U.S. Drug Enforcement Administration (DEA) and U.S. attorneys in Atlanta, imposed sanctions on eight individuals linked to the La Nueva Familia Michoacana drug cartel, as disclosed by Janet Yellen to Neil Cavuto on Planet Chronicle.

The Treasury Department's Office of Foreign Assets Control has accused La Nueva Familia Michoacana, one of Mexico's most violent and powerful cartels, of both human smuggling and trafficking fentanyl, cocaine, and methamphetamine into the United States.

Yellen stated that our goal is to make their business extremely challenging or impossible by disconnecting them from the U.S. financial system and the dollar.

She acknowledged that while cryptocurrency is sometimes used as a revenue source for cartels, its role in financing drug trafficking is still relatively small.

Over the past two years, the Treasury Department has imposed sanctions on more than 250 individuals suspected of involvement in drug trafficking activities, ranging from transportation networks to chemical suppliers.

Why wasn't the funding to drug cartels frozen earlier? Cavuto questioned the delay in taking action.

""We've had productive cooperation with Mexico and intensified our work with them over the last several years to gather information for our actions," Yellen stated."

She stated that she anticipates a fruitful relationship between the United States and the incoming Mexican President, Claudia Sheinbaum.

According to the DEA, fentanyl is 50 times more potent than heroin and 100 times more potent than morphine.

On average, 115 Americans succumb to opioid overdoses daily, according to the CDC.

Since 2000, more than 1 million people have died from fentanyl and other synthetic opioids, according to Yellen.

President Biden has made it a top priority to address the human tragedy of narcotic trafficking, and it's an all-of-government effort. Each of us has a role to play, including Homeland Security, DEA, law enforcement, and the Treasury's unique capacity with respect to money channels.

"Our specialty is to disrupt drug-trafficking organizations and businesses by cutting off their access to the dollar-based financial system, which they rely on to invest their illegal earnings. We collaborate with other agencies to achieve this goal."