Tag

Seized Assets

All articles tagged with #seized assets

world1 year ago•1 min saved

"Global Tensions Rise Over Allocation of Frozen Russian Assets"

Divisions among finance ministers of the Group of 20 nations have emerged over the possibility of seizing Russian central bank assets to support Ukraine, with France's finance minister, Bruno LeMaire, stating that seizing the frozen assets would violate international law, while U.S. Treasury Secretary Janet Yellen suggested that there was a legal justification for doing so. The debate over seizing more than $300 billion in Russian central bank assets has gained urgency amid waning political support in the United States and Europe to continue providing Ukraine with economic and military aid.

via The New York Times|

#finance-ministers #international-law #russia

legalcriminal-justice2 years ago•1 min saved

"Andrew Tate Triumphs in Legal Battle for Seized Assets"

Influencer Andrew Tate and his brother have won an appeal in a Romanian court regarding the return of assets seized by authorities in connection to allegations of human trafficking and rape, which they deny. The court ordered a new trial over the held assets, including luxury cars, and the brothers will be able to mount a new legal effort to reclaim their seized assets. The investigation alleges that the Tate brothers exploited women via their adult content business, and they are currently prohibited from leaving Romania while the investigation progresses.

via BBC.com|

#andrew-tate #human-trafficking #legal-challenge

international-affairs2 years ago•2 min saved

Taxpayers Footing the Bill for Costly Maintenance of Seized Russian Billionaire Toys

Taxpayers are bearing the cost of maintaining assets seized from Russian oligarchs as countries struggle to sell them off. Western sanctions have successfully removed assets from many Russian billionaires, but laws have made it difficult for governments to sell the seized assets. Taxpayers in Antigua and Barbuda are paying $28,000 a week to maintain a $120 million yacht seized from Russian billionaire Andrey Grigoryevich Guryev. Ukraine has only received $5.4 million from the sale of oligarchs' assets so far. The US and other countries are facing challenges in selling seized assets due to the need to prove criminal cases against the owners first.

via Fox Business|

#international-affairs #russian-oligarchs #seized-assets

politics2 years ago•1 min saved

US transfers seized Russian funds to Ukraine.

The US Attorney General has authorized the first transfer of funds seized from a Russian oligarch to aid Ukraine, following increased powers granted by Congress to send seized assets from Russian sanctions evaders to Kyiv. The funds seized from Konstantin Malofeyev will go towards rebuilding the war-torn country, which Russia invaded in February 2022. The US Department of Justice charged Malofeyev with violating sanctions imposed on Russia last year, and seized millions of dollars from an account at a US financial institution traceable to his sanctions violations. The US has also seized assets from other Russian oligarchs through a task force called KleptoCapture.

via Al Jazeera English|

#politics #russia #sanctions

business2 years ago•5 min saved

Global Crackdown on Russian Oligarchs' Sanctions Evasion Schemes

Western countries have frozen or seized at least $9 billion worth of luxury real estate, superyachts, and private jets belonging to Russian billionaires since Russia's invasion of Ukraine. As of April 2023, Forbes estimates that Western countries have frozen or seized at least 15 billionaire-owned yachts, 11 jets and helicopters, and 124 homes worth a total of $9 billion. Despite these efforts, Russian oligarchs are still extremely wealthy, with 46 sanctioned billionaires losing only an estimated $48 billion since February 23, 2022.

via Forbes|

#business #luxury-assets #russian-oligarchs