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Recent investigations reveal that over $9 billion of federal funds allocated to Minnesota programs since 2018 may have been stolen through widespread fraud, primarily involving the Somali community. Authorities warn of ongoing schemes, with more charges expected as investigations deepen.
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In early January 2026, the US escalated its campaign against Venezuela by seizing two oil tankers carrying Venezuelan crude, one in the North Atlantic and another in the Caribbean. This follows the recent US military capture of Venezuelan President Nicolás Maduro. The US plans to control and sell Venezuela's oil, directing proceeds through US accounts indefinitely, amid intensified sanctions and a blockade that has severely disrupted Venezuela's oil exports.
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In 2025, President Trump announced multiple tariffs targeting global trade, including plans for a new External Revenue Service and tariffs on pharmaceuticals and movies. Many of these threats were not implemented, amid ongoing trade disruptions and economic turbulence caused by erratic tariff policies.
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The US Treasury imposed sanctions on a Venezuelan drone manufacturer and its chairman for aiding Iran's UAV program and chemical procurement. The move highlights ongoing US efforts to curb Iran-Venezuela military cooperation amid broader regional tensions.
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The US has seized multiple vessels involved in Venezuelan oil exports, including the supertanker M Sophia and the tanker Galileo, amid ongoing efforts to control Venezuela's oil industry following the ousting of President Nicolás Maduro. The Sagitta tanker was also apprehended in defiance of US sanctions.
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Fatemeh Ardeshir-Larijani, an assistant professor at Emory University, was removed from her position amid protests and political pressure due to her father's role in Iran's government and recent US sanctions against him. The university cited personnel reasons, but the controversy highlights tensions over academic ties to Iran.
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Japan's Finance Ministry confirmed no direct intervention to support the yen in the past month, despite market speculation. The yen has strengthened from around 160 to 154 against the dollar amid signals of potential coordinated action with the US, as traders assess Japan's response to currency volatility ahead of a snap election on February 8.
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President Trump announced a new pilot program, 'Trump Accounts,' providing $1,000 for children born 2025-2028. Funded by the federal government and invested in stock index funds, the accounts aim to promote savings, financial literacy, and socio-economic mobility, launching on July 4 as part of the 250th anniversary celebrations.
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As of February 27, 2026, Venezuelan ex-president Nicolás Maduro and his wife Cilia Flores remain jailed in New York, facing drug trafficking charges. Maduro's lawyer argues the US Treasury blocked Venezuelan government funds to pay for his defense, violating his Sixth Amendment rights. The Treasury briefly authorized payment on January 9 but revoked it hours later without explanation.
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The US Treasury proposes a regulation to block US banks from doing business with MBaer Merchant Bank AG, a small Swiss bank accused of funneling over $100 million for illicit activities linked to Iran and Russia. The move highlights concerns over money laundering and national security risks.
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Multiple attacks near Oman, including the targeting of oil tankers Skylight and Safeen Prestige, have heightened regional tensions. Incidents follow Iran's claims of control over the Strait of Hormuz amid ongoing US-Israeli strikes on Iran, raising fears of escalation and disruptions to global oil supplies.
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Financial markets face renewed risks from private credit instability, AI valuation concerns, and geopolitical tensions following Iran's Strait of Hormuz shutdown. Investors remain cautious as signs of systemic strain emerge across industries and markets, with potential for broader crises.
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As of mid-March 2026, Iran exerts selective control over the Strait of Hormuz, a vital maritime chokepoint through which 20% of global oil passes daily. Since the US-Israel strikes on February 28, multiple attacks on vessels have disrupted traffic, causing tanker flows to collapse by over 90%. Iran allows limited passage to allies via negotiated safe corridors, while many ships transit with tracking systems off. The US has deployed Marines and threatens military action if Iran mines the strait.
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The US has extended a temporary waiver allowing India to buy Russian oil loaded before March 5, as global energy markets face turmoil from Middle East conflicts and Strait of Hormuz closure. The move aims to stabilize prices but raises concerns over sanctions and geopolitical risks.
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Recent US sanctions easing and the Iran war have temporarily increased Russia's oil revenues. The US allowed India to buy Russian oil for a month, while sanctions on Russian tankers and exports continue to be challenged. The conflict's duration will determine long-term impacts on Russia's economy.
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On March 12, 2026, the US Treasury issued a 30-day waiver allowing countries to buy Russian oil already at sea to stabilize global energy markets disrupted by the Iran conflict. Treasury Secretary Scott Bessent emphasized the measure's limited benefit to Russia, applying only to oil in transit. This follows a similar waiver for India amid soaring oil prices and geopolitical tensions.
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The US has granted a 30-day waiver allowing countries to buy Russian crude stranded at sea, aiming to stabilize energy markets. Experts warn this move benefits Moscow financially, potentially boosting its war efforts and reversing recent declines in Russian energy revenues, despite US claims of limited benefit.
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The US Treasury has updated its license to allow Russian crude and petroleum products to be sold and loaded onto ships, excluding transactions involving Cuba, North Korea, and occupied Ukraine. This move follows reports of Russian oil deliveries to Cuba amid its energy crisis, despite ongoing sanctions and embargoes.
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The US government is shifting responsibility for $1.7 trillion in federal student loans to the Treasury Department, focusing initially on defaulted loans. This move is part of President Trump's broader effort to dismantle the Education Department, with no clear timeline for full transfer. Borrowers will continue payments as usual.
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The US Treasury has authorized the temporary delivery and sale of Iranian crude oil loaded onto ships before March 20, extending until April 19. This move aims to stabilize global oil markets amid Iran's blockade of the Strait of Hormuz and recent attacks on energy infrastructure, adding approximately 140 million barrels to supply. Tehran denies surplus oil availability.