Treasury Undersecretary Nominee Advances, Plans Review of Sanctions Listings
The Senate Banking Committee voted 14-10 largely along party lines May 6 to approve John Hurley to be undersecretary of the treasury for terrorism and financial crimes, sending his nomination to the full Senate for its consideration.
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Committee ranking member Sen. Elizabeth Warren, D-Mass., criticized Hurley for refusing to say Russia started its war against Ukraine. She also objected to his support for the Trump administration's decision to limit implementation of the Corporate Transparency Act to foreign companies (see 2503030042).
In written answers to questions, Hurley said that he would launch a review of sanctions the Treasury Department has imposed over the past decade to determine whether any should be lifted.
Hurley, whose answers were publicly released May 5, also would examine whether the U.S. should ease sanctions on Syria following last year’s fall of the Bashar Assad regime. “I look forward to working with Congress and the interagency, if confirmed, to look to see how sanctions can be calibrated to appropriately respond to this moment in time,” he said.
While defending the continued use of sanctions against Venezuela, Hurley pledged to ensure such measures “are calibrated to mitigate unintended consequences on the Venezuelan people.”
Hurley said he believes in coordinating sanctions with allies and partners “both to signal international resolve and solidarity and reduce opportunities for threat actors to evade them.” He would support congressional legislation requiring stablecoin issuers to comply with U.S. sanctions.
Hurley, who served on the first Trump administration’s intelligence advisory board, was nominated for the Treasury position in February and provided oral testimony to the Banking Committee in April (see 2502120058 and 2504110011).