US Department of Justice Implements New Sanctions Targeting Russian Oligarchs and Associates
The US Department of Justice announced on Thursday the implementation of fresh sanctions targeting Russia, aiming to escalate pressure on the Kremlin in response to the conflict with Ukraine, as reported by Ukrinform
The US Department of Justice reported that the Southern District of New York court has pressed charges against three individuals, including oligarch Andriy Kostin, who is already under sanctions, and has apprehended two of his intermediaries. Additionally, the United States has initiated legal proceedings to seize two high-end condos valued at USD 2.5 million each, situated in the Ritz Carlton hotel in Miami, owned by the sanctioned Russian oligarch Viktor Perevalov.
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Furthermore, a new indictment has been issued against businessman Vladislav Osipov in a case of bank fraud related to the operation of the 255-foot luxury yacht Motor Yacht Tango, owned by the sanctioned Russian oligarch Viktor Vekselberg.
U.S. Attorney Damian Williams remarked, “Sanctioned oligarch Andrey Kostin and his associates circumvented U.S. sanctions to support his excessively opulent lifestyle. Through intricate schemes involving shell companies and illicit transactions, Kostin and his cohorts allegedly laundered funds and engaged in illegal transactions using U.S. currency to maintain and improve Kostin’s superyachts and luxury home in Aspen, blatantly disregarding U.S. laws.
The actions were undertaken by the KleptoCapture working group within the US Department of Justice, formed in March 2022 to monitor the financial activities of Russian oligarchs linked to the conflict. According to US Deputy Attorney General Lisa Monaco, the task force has brought forth 70 criminal charges against individuals and five against companies. Moreover, it has initiated asset seizure or confiscation proceedings amounting to approximately USD 700 million.
