The Downfall of the Oligarchs
The Downfall of the Oligarchs
Matt Bernardini lifts the lid on the West's crackdown on Russian dirty money
Perhaps the only positive development from the war in Ukraine is that western nations have finally started to get tougher on the Russian oligarchs who have enabled the kleptocratic system that has governed their country for more than 20 years.
Beginning right after Russia invaded Ukraine, both the United States and the United Kingdom swiftly set out on establishing long-overdue policies to crackdown on corruption.
In March 2022 the US Department of Justice announced the launch of the Task Force KleptoCapture, which would seize assets from sanctioned oligarchs. So far the force has been extremely busy, bringing charges against 35 individuals and corporate entities. The flurry of activity is a welcome sign for those who want to crackdown on illicit finance, but also an indication of how welcoming the United States has been for dirty money.
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