MEXICO CITY — Mexican President Claudia Sheinbaum addressed the recent U.S. government sanctions targeting three Mexican financial entities, expressing strong disapproval on Thursday and asserting that the U.S. has failed to provide tangible proof of the alleged money laundering activities.
On Wednesday, the U.S. Treasury Department announced sanctions against the banks CIBanco and Intercam Banco, along with the brokerage Vector Casa de Bolsa. The department claimed these financial institutions were involved in facilitating millions of dollars in money transfers linked to Mexican drug cartels.
During her morning briefing, Sheinbaum criticized the administration under former U.S. President Donald Trump for not supplying evidence to support claims of illicit financial activities. Despite repeated requests for verification, no concrete proof was presented by the U.S. side.
“The Treasury Department hasn’t given any valid evidence that demonstrates actual money laundering,” Sheinbaum stated. “We aren’t here to shield anyone. Impunity is not tolerated in our system. If wrongdoings occurred, they need to be backed by strong, undisputable evidence, not mere accusations.”
The financial institutions implicated echoed Sheinbaum’s sentiments, responding with rebuttals and questioning the validity of the U.S.’s claims.
Vector Casa de Bolsa released a statement on Wednesday evening, firmly rejecting any claims that question its corporate integrity. Similarly, Intercam Banco issued a statement denying any engagement in illegal activities. Alfonso Romo, an entrepreneur who formerly served as chief of staff to ex-President Andrés Manuel López Obrador, owns Vector.
CIBanco’s president of strategies, Manuel Somoza, shared with local media that the institution was blindsided by the order, learning about it simultaneously with the public announcement. He noted that the U.S. actions were not formal legal accusations but rather part of an ongoing investigation.
“Our records are open for examination,” Somoza asserted. “Even unverified rumors can cause damage, so we invite American authorities to conduct a thorough investigation. We have nothing to hide.”
Sheinbaum disclosed that American officials had informed Mexican authorities about the allegations prior to the public announcement. Mexican financial regulators conducted their investigations into the claims and discovered only administrative infractions rather than severe violations as suggested by U.S. authorities.
The U.S. government’s orders alleged that the three institutions were involved in transferring money with Chinese firms to procure chemicals for fentanyl production, further claiming connections to U.S. banks—though no U.S. financial institutions were explicitly named.
Sheinbaum argued that their findings merely showcased strong business ties with Chinese clients and financial entities, emphasizing the robust trade relationship existing between Mexico and China. The U.S. perceives China’s chemical supply chain as a key factor in fentanyl production in Mexico, amid Washington’s broader concerns over China’s expanding influence in Latin America.
Expressing her discontent, President Sheinbaum reminded U.S. officials of Mexico’s sovereignty, urging the U.S. government to treat the nation as an equal partner in diplomatic and economic interactions.
“Mexico is not anyone’s piñata,” she declared. “We demand respect for our country from the United States.”