Mexican President Claudia Sheinbaum said, “we’re no one’s piñata,” Thursday, blasting the Trump administration’s decision to sanction three Mexican financial institutions over unproven money laundering allegations.

The U.S. Treasury Department on Wednesday accused CIBanco, Intercam Banco, and brokerage Vector Casa de Bolsa of facilitating millions in transfers for drug cartels tied to fentanyl production, but Sheinbaum said the U.S. has yet to provide any concrete evidence.

“We aren’t going to cover for anyone… but they have to demonstrate that there was actually money laundering—not with words, but with strong evidence,” she said during her morning briefing.

“We’re no one’s piñata,” she added. “Mexico must be respected.”

All three institutions strongly denied the accusations, calling them damaging and unsupported.

The dispute highlights growing tensions as Washington seeks to counter Chinese influence in Latin America, with U.S. officials claiming the transfers involved Chinese companies. Sheinbaum, however, framed the banks’ links to China as routine trade, and insisted Mexico be treated with respect.

This is a breaking news story. Updates to follow.