The United States 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 says 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.
Treasury Secretary Janet Yellen vowed that the United States would keep taking action even as Russian elites hide behind proxies and complex legal arrangements.
The United States 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 says 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.
Treasury Secretary Janet Yellen vowed that the United States would keep taking action even as Russian elites hide behind proxies and complex legal arrangements.
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