U.S. Department of the Treasury

During talks with Minister @ryosei_akazawa, I was glad to share that thanks to President Trump’s policy of American Energy Dominance, the United States is now exporting a record amount of energy to the world. I highlighted the continued positive collaboration between the United States and Japan on issues pertaining to critical minerals and supply chains, and I emphasized the need for rapid and consistent progress on the U.S.-Japan investment agreement.

In my meeting with Minister @satsukikatayama, I was pleased to reaffirm the strong economic partnership between the United States and Japan. The level of communication and coordination between our teams in addressing undesirable, excess volatility in currency markets continues to be constant and robust. I congratulated the Minister on Japan’s strong economic resiliency, and we held positive discussions on the U.S.-Japan investment agreement, our shared efforts on critical minerals, and the United States’ support for Japan as it works to build an investment screening mechanism.

As Iran’s military desperately tries to regroup, Economic Fury will continue to deprive the regime of funding for its weapons programs, terrorist proxies, and nuclear ambitions. Treasury will continue to cut the Iranian regime off from the financial networks it uses to carry out terrorist acts and to destabilize the global economy.

Today, Treasury’s Office of Foreign Assets Control is designating 12 individuals and entities for their roles enabling the Islamic Revolutionary Guard Corps’ (IRGC) sale and shipment of Iranian oil to the People’s Republic of China. The IRGC relies on front companies in permissive economic jurisdictions to obfuscate its role in oil sales and funnel the revenue to the Iranian regime. Instead of using this revenue to support the struggling Iranian people, the regime directs it toward weapons development, backing terrorist proxies, and funding security forces that suppress citizens’ freedoms.

As DOJ’s allegations against the Southern Poverty Law Center demonstrates, this Administration will not look the other way as nonprofits exploit tax-exempt status to commit fraud. Treasury is committed to identifying and eliminating fraud, abuse of tax-exempt benefits, and other illicit conduct. The federal government will no longer turn a blind eye. Treasury will continue to work with law enforcement partners to bring such misconduct to light and to hold the entities and individuals who perpetrate it accountable.

In advance of @POTUS' historic summit with President Xi in Beijing, I will depart on Monday for a quick series of meetings in both Japan and South Korea. On Tuesday, I will meet in Tokyo with Prime Minister @takaichi_sanae, Finance Minister @satsukikatayama, and other government and private sector representatives for discussions on the U.S.-Japan economic relationship. On Wednesday, I will stop in Seoul for a discussion with Vice Premier He Lifeng of China, before continuing on to Beijing for the Leaders’ Summit between President Trump and President Xi. Economic security is national security, and I look forward to a productive series of engagements as we work to advance President Trump’s America First Economic Agenda.

For 250 years, faith and freedom have shaped the American story. Rededicate 250 on Sunday, May 17 will be a powerful moment of prayer, worship, and gratitude for the blessings God has placed on this nation. RSVP for Sunday, May 17 in Washington, DC: https://events.freedom250.org/events/rededicate250-national-prayer-event

While the surviving IRGC leaders are trapped like rats in a sinking ship, the Treasury Department is unrelenting in our Economic Fury campaign. Under @POTUS’ decisive leadership, we will continue to act to Keep America Safe and target foreign individuals and companies providing Iran’s military with weapons for use against U.S. forces.

Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control (OFAC) targeted 10 individuals and companies based in several jurisdictions across the Middle East, Asia, and Eastern Europe that are enabling efforts by Iran’s military to secure weapons, as well as raw materials with applications in Iran’s Shahed‑series unmanned aerial vehicles and ballistic missile program.

Today, Treasury’s Office of Foreign Assets Control (OFAC) updated the names and details associated with Kovay Gardens, a Mexican timeshare resort sanctioned by OFAC in February 2026 for defrauding Americans on behalf of the terrorist Cartel de Jalisco Nueva Generacion. In an attempt to further evade sanctions and continue defrauding victims, Kovay Gardens is now using the following aliases: (1) Navira Villas & Residences and (2) Marina Oasis Beachfront Resort. Treasury is alerting U.S. persons to be vigilant and aware that these aliases represent a U.S.-sanctioned entity that is attempting to scam Americans.

Like a rogue gang, the Iranian regime is pillaging resources that rightfully belong to the Iraqi people. Treasury will not stand idly by as Iran's military exploits Iraqi oil to fund terrorism against the United States and our partners.

Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control increased pressure on Iran and its proxy militias in Iraq by designating individuals and businesses exploiting Iraq’s oil sector and undermining the country’s security. Today’s action includes Ali Maarij Al-Bahadly—Iraq’s Deputy Minister of Oil, who abuses his position to facilitate the diversion of oil to be sold for the benefit of the Iranian regime—along with three senior leaders of Iran-aligned terrorist militias. https://t.co/ouIxGx0G9y

Had Spirit Airlines been allowed to merge with Jet Blue, it would have given them much more resiliency. Thanks to @SenWarren, @PeteButtigieg, and all of their friends in the Biden Administration who backed their enthusiastic opposition to the Spirit-Jet Blue merger, dozens of regional airports will now lose service and thousands of jobs will now be lost.

Today, Treasury’s Office of Foreign Assets Control issued an alert warning the maritime industry that paying “tolls” to the Iranian regime for safe passage through the Strait of Hormuz may result in sanctions exposure. The regime may demand payment in fiat currency, digital assets, offsets, informal swap, or other in-kind payments, such as nominally charitable donations made to the Iranian Red Crescent Society, Bonyad Mostazafan, or Iranian embassy accounts. Treasury will not hesitate to take action against those supporting Iran’s military, including through “toll” payments. Maritime service providers should conduct enhanced due diligence around transits through the Strait of Hormuz. https://t.co/g7KKcXjhH6

Iran is the head of the snake for global terrorism, and under @POTUS’ leadership, Treasury is moving aggressively, through Economic Fury, to sever the Iranian military’s financial lifelines. We will relentlessly target the regime’s ability to generate, move, and repatriate funds, and pursue anyone enabling Tehran’s attempts to evade sanctions.

Press Release: https://home.treasury.gov/news/press-releases/sb0483

Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control designated three Iranian foreign currency exchange houses and their associated front companies. Collectively, Iranian exchange houses facilitate billions of dollars in foreign currency transactions each year. Because Iran primarily settles its oil sales in Chinese yuan, these exchange houses play a critical role in converting oil revenues into currencies that are more readily useable by the Iranian military and its partners and proxies.

It is very difficult for rats in a sewer pipe to know what’s going on in the outside world. Some color for the Iranian Leadership as they literally sit in the dark: 1. The United States has complete control of the Strait of Hormuz. 2. There is a hard currency, i.e. U.S. dollar, shortage. 3. Food and gasoline rationing are in place. 4. The entire international community has turned against you. 5. The BLOCKADE will continue, until there is pre-February 27 Freedom of Navigation.