U.S. Deputy Treasury Secretary: Sanctions will be a powerful policy tool in the coming years

Deputy Treasury Secretary Wally Adeyemo on Thursday (1) began a review of U.S. economic and financial sanctions, emphasizing their need to be used as a strong and viable policy tool, the U.S. Treasury Department said.

Adeyemo met with some academics and other sanctions experts, including former senior officials at the State Department and Treasury Department, and participants agreed on the “value of coordination with allies and partners” and affirmed the status of U.S. sanctions as an important tool of U.S. national security and foreign policy.

Adeyemo noted that sanctions remain a powerful and valuable tool for policymakers, and that in evaluating programs, it is paramount to ensure that they remain a strong and viable option for years to come.

The Biden administration is understood to have begun a review of the Trump administration’s policies on China and trade, and its extensive use of financial and economic sanctions.