Washington Blocks More Than $ 1 Billion In Russian Oligarch's US Assets
NDTV
The Treasury Department said that Kerimov, a billionaire active in Russian politics, secretly managed the Delaware-based Heritage Trust which put its money into a number of large public companies.
The United States on Thursday blocked a US-based company worth more than $1 billion linked to Russian oligarch Suleiman Kerimov, saying the ally of President Vladimir Putin used it to funnel and invest shadowy funds.
The Treasury Department said that Kerimov, a billionaire active in Russian politics, secretly managed the Delaware-based Heritage Trust which put its money into a number of large public companies.
Heritage Trust, set up in 2017, brought money into the United States through shell companies and under-the-radar foundations established in Europe, Treasury Department officials said.
Treasury Secretary Janet Yellen vowed that the United States would keep taking action "even as Russian elites hide behind proxies and complex legal arrangements."
