According to Andrew Adams, the group has focused on identifying those who are helping Russians to avoid sanctions and export controls. “I think it can be quite effective to be sanctioning facilitators,” Adams said, calling them “professional sanctions evasion brokers.” A recent report from the Treasury Department showed that more than $58 billion worth of sanctioned Russian assets have been blocked or frozen worldwide so far. Adams pointed out that KleptoCapture aims to sell the frozen yachts and other property of sanctioned Russians, despite the legal difficulties, and use the proceeds for the benefit of Ukraine. He noted, however, that this would be done in accordance with the law.
“Part of what that means is that we will not take assets that are not fully, totally forfeited through the judicial procedures and begin confiscating them without a legal basis,” said Adams, who also serves as acting deputy assistant attorney general. He highlighted that the task force has had “success in working with Congress and working with folks around the executive branch in obtaining authorization to transfer certain forfeited funds to the State Department.”
Meanwhile, the US Treasury revealed last week that the government was “paving the way” for $5.4 million in seized funds to be handed over to Ukraine. Western countries have been on the hunt for sanctioned Russian assets since Moscow launched its military operation in Ukraine last year. Thousands of Russian individuals have since been sanctioned, with their property and money seized or frozen by the US, EU, and other countries.
The source of this content is RT (rt.com), an international news channel that is publicly financed by the Russian Federation. To learn about Corruption Ledger's stance on freedom of speech and press, click here.
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