US Launches Multilateral Russian Sanctions Task Force
The U.S. officially launched the Russian Elites, Proxies and Oligarchs multilateral task force meant to enforce sanctions placed on Russia following its invasion of Ukraine, DOJ said. The task force was announced Feb. 26 along with Australia, Canada, the European Commission, Germany, Italy, France, Japan and the U.K., and it consists of "Finance Ministry and Justice or Home Ministry in each member jurisdiction." The task force will allow jurisdictions to share information to help take action on sanctions, asset freezes and seizures and criminal prosecution, DOJ said.
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Cooperation has already yielded results, DOJ said, with the seizure of multiple vessels controlled by sanctioned individuals having already taken place. DOJ's own sanctions enforcement group, Task Force KleptoCapture, will aid the task force. Beyond the announcement of the REPO task force, the Treasury Department's Financial Crimes Enforcement Network also announced increased information sharing. Treasury also announced the launch of the Kleptocracy Asset Recovery Rewards Program, which offers rewards for information leading to the seizure or forfeiture of assets linked to Russian sanctions.
“We are already working with our international partners to freeze and seize properties belonging to sanctioned Russian oligarchs worldwide,” Attorney General Merrick Garland said. “We will continue to work together to take all appropriate actions against those whose criminal acts enable the Russian government to continue its unjust war against Ukraine.”