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Treasury blocks $ 1 billion trust owned by Russian oligarchs

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The Associated Press

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Fatima Hussein

FILE - People look on from the super yacht Amadea as it arrives to the San Diego Bay Monday, June 27, 2022, seen from Coronado, Calif. The $325 million superyacht seized by the United States from a sanctioned Russian oligarch arrived in San Diego Bay on Monday. A multinational task force designed to seize Russian oligarchs' wealth has blocked and frozen $30 billion in sanctioned individuals' property and funds in its first 100 days.
File-People from Coronado, California I saw a super yacht Amadea arriving in San Diego Bay on Monday, June 27, 2022. A $ 325 million super yacht confiscated by the United States from a licensed Russian Oligalhi arrived in San Diego Bay on Monday. Designed to seize the wealth of Russia's Oligalhi, the Multinational Task Force has blocked and frozen $ 30 billion in sanctioned personal property and funds in the first 100 days.Photo courtesy of Gregory Bull/Related Press

Washington (AP) — Ministry of Finance approved Thursday Blocked the $ 1 billion Delaware-based trust associated with the Russian Oligalhi Suleiman Abusaidovich Kerimov.

This move took place after the United States seized a $ 325 million super yacht (348-foot long Amadea) tied to Kerimov earlier this month. .. According to the

department, this is a unique case due to the magnitude of trust and the complexity of the investigation.

"The Ministry of Finance continues to use the full range of our tools to circumvent our sanctions and expose and confuse those who try to hide the profits they did not get. "Masu," Finance Secretary Janet Jellen said in a statement.

"Even if the Russian elite is hidden behind agents and complex legal arrangements, the Treasury will leverage a partnership with a wide range of enforcement authorities through the REPO Task Force to fund it. We will proactively implement multilaterally coordinated sanctions imposed on us, and will benefit from the Russian war against Ukraine, "she said.

Earlier this year, the Ministry of Finance, the Ministry of Justice, and other agencies convened a task force called REPO (Russian Elite, Proxy, Oligalhi), and others. We conducted an investigation and prosecution in cooperation with the government. Oligalhi and an individual who have formed an alliance with Russian President Vladimir Putin.

The consortium blocked $ 30 billion in sanctioned individual assets and funds in its first 100 days of operation and was frozen, the Ministry of Finance reported Wednesday.

The Allied Government bans individuals from trading Russian gold in the United States to companies banning companies in Russia from providing accounting, legal and consulting services. , I've done everything.

Earlier this week, a group of seven countries agreed to ban Russia's gold imports in the latest round of sanctions against Putin's invasion of Ukraine.

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