Russia-Ukraine conflict: US finds evidence of oligarchs trying to evade sanctions

In response to Russia’s unprovoked invasion of Ukraine, the West and many other countries have imposed sanctions on Moscow, including targeting oligarchs and their immediate families. However, US investigators found that there are oligarchs who have been trying to evade such penalties.

Reuters reports US prosecutors found evidence that Russian oligarchs are trying to avoid the sanctions put in place on them as a response to Russia’s invasion of Ukraine, according to the leader of the US Justice Department’s task force.

Andrew Adams, who leads the DOJ’s “Kleptocapture” task force, told the outlet Friday last week that there are some oligarchs who have not yet been targeted by the sanctions, already moving their assets ahead to avoid getting affected by the penalties.

However, even as they attempt to hide their yachts and other assets, Adams explained that those who are trying to avoid getting sanctioned will be facing an “all-time high” level of international cooperation to track the assets of Russian elites who benefited from the regime of dictator Vladimir Putin.

“There are efforts afoot – some of them publicly reported – to move, for example, moveable property in the forms of yachts, airplanes…into jurisdictions where, I think, people have the perception that it would be more difficult to investigate and more difficult to freeze,” said Adams.

According to Adams, it is a challenge to trace the assets of the oligarchs as they are often hidden behind “layers of shell companies” all over the world. US prosecutors are receiving information from places usually known to be safe havens.

The ongoing conflict is moving into its second month, and Ukrainian President Volodymyr Zelenskyy accused Russia of committing genocide in Ukraine following the images of dead Ukrainian civilians in cities that were abandoned by Russian troops outside the country’s capital of Kyiv.

“Indeed this is genocide. The elimination of the whole nation and the people,” said Zelenskyy in his interview on CBS’ “Face the Nation” Sunday. “We are the citizens of Ukraine and we don’t want to be subdued to the policy of Russian Federation. This is the reason we are being destroyed and exterminated.”

Zelenskyy’s comments come a day after Ukrainian forces moved into Bucha and found what officials and witnesses have described as bodies of civilians killed by Russian troops.