Business & Finance
US Sanctions Mexican Companies for Cartel-Linked Fuel Smuggling
Key Points
US Sanctions Mexican Companies for Cartel-Linked Fuel Smuggling The US Treasury announced sanctions against two Mexican citizens and nine companies in the country that the agency said are linked to a fuel-smuggling scheme with ties to a cartel. The move was the latest action by the US government to fight the illegal cross-border fuel trade that costs the US and Mexico tens of billions of dollars in lost revenue annually.
US Sanctions Mexican Companies for Cartel-Linked Fuel Smuggling
The US Treasury announced sanctions against two Mexican citizens and nine companies in the country that the agency said are linked to a fuel-smuggling scheme with ties to a cartel.
The move was the latest action by the US government to fight the illegal cross-border fuel trade that costs the US and Mexico tens of billions of dollars in lost revenue annually. Drug cartels have been smuggling huge amounts of US gasoline and diesel into Mexico, secretly bringing in the fuel in order to avoid taxes. The operations have become so vast that it has become the biggest source of income for cartels after drugs.