Treasury says it is targeting Chinese entities linked to fentanyl trade; members press on Burma and Iranian oil

Multiple members questioned Treasury Secretary Scott Bissett about sanctions, enforcement and illicit finance. Representative Dan Kildee and others urged stronger measures against the Myanmar junta and asked whether Treasury would support legislation such as the "Brave Burma Act," which would require annual determinations and impose blocking sanctions on specific Burmese entities. Bissett said Treasury was "happy to work with your staff" and that he shared concerns about imposing consequences on persons who threaten peace and stability in Burma.

On Iran and Chinese buyers of Iranian oil, Representative Wagner asked why a statutory determination required in February was late; Bissett said his staff would follow up but noted Treasury had recently targeted so‑called "teapot" refiners in China that buy Iranian oil and that Treasury would continue sanctions work as needed.

On fentanyl and China‑Mexico trafficking chains, Representative Williams asked what steps Treasury was taking. Bissett said he had "signed an order that will be made public within the next few days identifying Chinese entities who are engaged in the fentanyl trade." He also described coordinated actions with allies and with law enforcement to choke off financial support for transnational criminal organizations.

Why it matters: Sanctions, licensing decisions and enforcement are central Treasury tools for national security and public health aims. Members sought commitments from Treasury to pursue targeted sanctions that would limit revenue flowing to regimes and criminal networks.

Sources: questioning and answers from the House Financial Services Committee hearing; direct statements from Secretary Scott Bissett and multiple members.