US turns to new ways to punish Russian oligarchs for the war

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The U.S. has begun an aggressive new push to inflict pain on Russia’s economy and especially its oligarchs with the intent of thwarting the Kremlin’s invasion of Ukraine. US. officials say efforts will now focus on lawfully liquidating the property of Russian oligarchs, and expanding financial penalties on those who facilitate the evasion of sanctions. They also will seek to close loopholes in the law that allow oligarchs to move through the U.S. financial system through shell companies. A task force that enforces economic restrictions imposed on Russia and its billionaires is now prioritizing efforts to identify those who help Russians evade sanctions and violate export controls.