US May Confiscate Assets Of Russian Oligarchs Worth USD 700 Million

(MENAFN- UkrinForm) On Thursday, the United States unveiled a series of new sanctions against Russia to increase pressure on the Kremlin regime over the war against Ukraine.

According to Ukrinform, this is stated in a statement by the US Department of Justice.

The ministry said that the Southern District of New York court had filed charges against three people, including oligarch Andriy Kostin, who is under sanctions, and arrested two of his intermediaries. The United States also filed a lawsuit to confiscate two luxury condominiums in Miami, located in the Ritz Carlton hotel, worth USD 2.5 million, owned by the sanctioned Russian oligarch Viktor Perevalov.

A new indictment was also announced against businessman Vladislav Osipov in a bank fraud case in connection with the operation of a 255-foot luxury yacht Motor Yacht Tango owned by sanctioned Russian oligarch Viktor Vekselberg.

"Sanctioned oligarch
Andrey Kostin and his co-defendants flouted U.S.
sanctions to support his exceptionally lavish
lifestyle," said U.S. Attorney Damian Williams, "Through complex schemes involving shell companies and illicit transactions, Kostin and his associates
laundered funds
and illegally made transactions with U.S. currency for the maintenance and enhancement of Kostin's superyachts
and luxury Aspen home,
disregarding U.S. law."

Read also: UK announces new sanctions against Russia

These measures were initiated by the US Department of Justice's KleptoCapture working group, which was established in March 2022 to track the capital of Russian oligarchs in connection with the war.

According to US Deputy Attorney General Lisa Monaco, the task force has filed 70 criminal charges against individuals and five charges against companies, and has ordered the seizure or confiscation of assets worth about USD 700 million.


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.