US works to 'seize and freeze' wealth of Russian oligarchs
Source: Associated Press
US works to ‘seize and freeze’ wealth of Russian oligarchs
By FATIMA HUSSEIN
March 16, 2022
WASHINGTON (AP) — Announcing tough sanctions against Russian oligarchs over the war in Ukraine was step one.
Now the U.S. and its allies are creating new teams to act on their vow to “seize and freeze” the giant boats, estates and other pricey assets of Russian elites.
Treasury Secretary Janet Yellen and Attorney General Merrick Garland on Wednesday for the first time convened a multilateral task force known as REPO, one of several new efforts dedicated to enforcing sanctions.
REPO — short for Russian Elites, Proxies and Oligarchs — will work with other countries to investigate and prosecute oligarchs and individuals allied with Russian President Vladimir Putin.
The group is now looking into 50 individuals, with 28 names publicly announced.
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Read more: https://apnews.com/article/russia-ukraine-putin-business-merrick-garland-global-trade-fd472fe7e9eb525cc9f9401b8a623939
A view of the yacht "Lady M", owned by Russian oligarch Alexei Mordashov, at it is docked at Imperia's harbor, Italy, Saturday, March 5, 2022. European governments are moving against Russian oligarchs to pressure Russian President Vladimir Putin to back down on his war in Ukraine, seizing superyachts and other luxury properties from billionaires on sanctions lists. (AP Photo/Antonio Calanni)
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