That’s above yachts, other ships and luxury properties that have been seized, as well as $ 300 billion in assets of the Russian Central Bank that have been frozen, the department said. “We continue to increase the cost of Russia’s war,” the finance ministry told the REPO working group, short for Russian Elites, Representatives and Oligarchs.
Read more: US to target Russian oligarchs in aid package for Ukraine: Schumer
The program is designed to deplete its resources from Russia as President Vladimir Putin continues his invasion of Ukraine, but civil rights advocates have expressed concerns about a possible overrun. The story goes on under the ad Finance Minister Janet Yellen and Attorney General Merrick Garland convened the REPO working group in March in conjunction with a number of other countries working together to investigate and prosecute oligarchs and others who allied with Putin. The European Commission has set up its own Freeze and Seize Task Force to work with the REPO team. The collective has worked to seize bank accounts, assets and real estate. For example, earlier this month, the United States announced sanctions against God Nisanov, one of the richest men in Europe, and Alexei Mordasov, one of Russia ‘s richest billionaires, along with his wife and two adult children. Trending Stories
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“REPO members will continue to monitor Russian assets under sanctions and prevent sanctioned Russians from undermining measures jointly imposed by REPO members,” the finance ministry said. 2:33 Russian elites do not escape the repression of Moscow in the military opposition in Ukraine Russian elites do not escape the repression of Moscow in the military opposition in Ukraine – May 5, 2022 As sanctions increase, there are growing concerns that seizures are being made on non-Americans outside of the judicial review process, with far-reaching implications for those subject to sanctions who may not be able to challenge the seizures. The story goes on under the ad Attorney Tom Firestone, who specializes in international investigations into corporate clients, said the seizures “could have consequences for innocent people who have nothing to do with the war – we must be careful not to punish innocent people.” “We have seen a huge increase in sanctions,” Firestone said. “The US government is pursuing a number of goals. “There is a lot of uncertainty about where everything is going.” The American Civil Liberties Union has challenged bills – including the House Reconciliation Act passed by Parliament – that would make it easier for the government to seize Russian assets. The government said that in a wartime environment caused by a global food crisis, “we seek to maximize the impact of sanctions on certain individuals and entities, while protecting against the pervasiveness that affects global commodity markets and food supplies.” © 2022 The Canadian Press
