Why yachts and assets of Russian billionaire oligarchs are targets of U.S.
It has taken unprecedented measures to bring down Russian oligarchs. This includes seizing Italian villas and following up on yachts. The U.S., on the other hand, has arranged its own special task force — known as Task Force “KleptoCapture” — within the Department of Justice to seize the assets of the Russian elite who try to evade sanctions.
CNBC’s Timothy Frye told CNBC that this time, it was more difficult to find their assets. Although it will be difficult to sort through many of these dodgy purchases and other such transactions, there is some promise to make it happen.
Experts don’t know if Putin’s oligarchs are strong enough to stop Russia’s continuing barrage on Ukraine. Douglas Rediker at Brookings Institution is a senior nonresident fellow who said it could be difficult to impose sanctions against Russian oligarchs due to strong U.S. property rights protections.
Rediker said, “I don’t have access to intelligence not publicly available. However it is difficult for me to pinpoint the connection between the at least some financial oligarchs with what is occurring in Ukraine now at President Putin’s behest.”
Rediker explained that this does not mean they have been clean-shaven or are defensible.
You can see the video to learn how Russia’s billionaires came to power and whether sanctions could be used to end the Russia-Ukraine conflict.