Treasury cuts three Mexican banks off from the U.S. financial system over fentanyl

The Treasury Department's Office of Foreign Assets Control designated three Mexican financial institutions as Specially Designated Narcotics Traffickers on June 25, 2025, cutting them off from the US dollar-clearing system for allegedly financing fentanyl trafficking networks. The designations froze the banks' US assets and prohibited American financial institutions from processing their transactions. Mexican officials protested the unilateral action as an infringement on sovereignty.