WASHINGTON, Dec 4 — The US Treasury Department will impose a series of sanctions next week to mark the US Summit for Democracy, targeting people engaged in corruption, serious human rights abuse and who undermine democracy, among others, a Treasury Department spokesperson said yesterday.
The Treasury will also announce proposals designed to close loopholes that allow corrupt officials to exploit the real estate market and to address gaps in the corporate transparency network that allow corruption to flourish and illicit proceeds to flow into the United States, the spokesperson said. The first-of-its-kind gathering next week is a test of President Joe Biden’s assertion, announced in his first foreign policy address in office in February, that he would return the United States to global leadership to confront authoritarian forces led by China and Russia.
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