The U.S. Department of the Treasury is considering rulemaking that would seek to mitigate the growing risk sanctioned Russian oligarchs and politicians will attempt to use “hedge funds, private equity firms, and investment advisers to hide their assets.”
“… [W]e know that many Russian oligarchs and elites are attempting to evade sanctions, and we are working tirelessly to prevent sanctions evaders from exploiting financial loopholes to hide and move their wealth,” said Brian Nelson, the Treasury’s under secretary for terrorism and financial intelligence, in a May 25 speech at an anti-money laundering (AML) conference.
