U.S. launches 'KleptoCapture' task force aimed at Russian oligarchs

[Greenbeard]

Sounds like a fun assignment.

U.S. launches 'KleptoCapture' task force aimed at Russian oligarchs

WASHINGTON, March 2 (Reuters) - The U.S. Justice Department on Wednesday launched a task force known as "KleptoCapture" aimed at straining the finances of Russia's oligarchs as the United States steps up pressure Russia to cease its invasion of Ukraine.

The interagency law enforcement task force will be dedicated to enforcing sanctions, export restrictions and economic countermeasures designed to freeze Russia out of global markets, Attorney General Merrick Garland said in a statement.

The task force will be run out of Monaco's office, and will be responsible for investigating and prosecuting violations of sanctions. It will use civil and criminal asset forfeiture laws to seize assets obtained through unlawful conduct.

 

[element94]

Sounds like a fun assignment.

U.S. launches 'KleptoCapture' task force aimed at Russian oligarchs

Hit them where they live.

 

[TU Curmudgeon]

Sounds like a fun assignment.

U.S. launches 'KleptoCapture' task force aimed at Russian oligarchs

As I read it, the US government intends to punish anyone in any other country who doesn't comply with US regulations concerning trading with Russia - REGARDLESS of whether or not the conduct of the person in that other country violates either the laws or regulations of that other country.

After all, evrewunknoz that not a single person in America is going to be violating the US regulations concerning trading with Russia - right?

 

[D_NATURED]

Hit them where they live.

Yeah, if they want to punish Putin they should sew Trump's mouth closed. No more Trumpy-bear oral for you, Vlad!

 

[Somerville]

Looks like other nations are thinking about this

Germany seizes Russian billionaire Usmanov's yacht -Forbes
BERLIN (Reuters) - German authorities have seized a nearly $600 million luxury yacht owned by Russian billionaire Alisher Usmanov who has faced European Union sanctions over Russia's invasion of Ukraine, Forbes reported, citing sources in the yacht industry.

The 512-foot yacht, Dilbar, was taken in the northern port of Hamburg, the Forbes website reported.

The yacht had been undergoing a refit in shipyards of Blohm + Voss, Forbes reported, adding that the German government had frozen the asset and employees working on the ship did not appear for work

In England

Chelsea owner Roman Abramovich 'selling UK properties' as Swiss billionaire Hansjorg Wyss claims he has been offered the chance to buy the club​

Roman Abramovich is "terrified of being sanctioned" and selling his UK properties, Labour MP Chris Bryant tells House of Commons; Hansjorg Wyss: "I and three other people received an offer on Tuesday to buy Chelsea from Abramovich...Abramovich is currently asking far too much."

Russian-Israeli billionaire Abramovich is understood to want to retain his ownership of Chelsea, but that could effectively prove close to impossible should the UK Government impose sanctions on the 55-year-old, who has owned the west London club since 2003.

"Abramovich is trying to sell all his villas in England, he also wants to get rid of Chelsea quickly," Wyss told Swiss newspaper Blick.

and Monaco, which definitely surprised me when I read this. An old sailing friend who lives in Monaco and has connections with the ruling family was also surprised when he heard this was happening.

Monaco Freezes Assets of Russian Oligarchs Amid Ukraine Invasion​

The Principality of Monaco, a popular destination for the world’s wealthiest and their money, announced on Monday that it was imposing sanctions against Moscow following last week’s invasion of Ukraine, reports Reuters. The penalties will include freezing the assets of a number of Russian citizens.

Monaco said it would follow the European Union’s lead to impose the sanctions. The city-state’s royal palace did not reveal whose assets would be frozen, but in a statement, monarch Prince Albert II condemned the invasion, and said that Monaco stood in solidarity with the Ukrainian people. He also called for an immediate ceasefire.

“In accordance with its international commitments, the Principality has adopted and implemented, without delay, procedures for freezing funds and economic sanctions identical to those taken by most European States,” the palace said in a statement.

 

[WIGDViking]

As I read it, the US government intends to punish anyone in any other country who doesn't comply with US regulations concerning trading with Russia - REGARDLESS of whether or not the conduct of the person in that other country violates either the laws or regulations of that other country.

After all, evrewunknoz that not a single person in America is going to be violating the US regulations concerning trading with Russia - right?

Oh I suspect this will affect trumps bottom line…

 

[vanceen]

As I read it, the US government intends to punish anyone in any other country who doesn't comply with US regulations concerning trading with Russia - REGARDLESS of whether or not the conduct of the person in that other country violates either the laws or regulations of that other country.

After all, evrewunknoz that not a single person in America is going to be violating the US regulations concerning trading with Russia - right?

You read that in the provided link? Somehow I missed it, maybe you can point out where it says that.

 

[TU Curmudgeon]

You read that in the provided link? Somehow I missed it, maybe you can point out where it says that.

Sorry, I guess that the colloquial use of the word "read" to mean "interpret" confused you.

 

[coyote505]

U.S. Constitution, Article I Section 8...."To declare War, grant letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;". I believe this is the provision under which Jean Lafite operated during the War of 1812. If an oligarch's yacht is moored in Montenegro, perhaps an enterprizing seaman might wish to appropriate it?

 

[TU Curmudgeon]

U.S. Constitution, Article I Section 8...."To declare War, grant letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;". I believe this is the provision under which Jean Lafite operated during the War of 1812. If an oligarch's yacht is moored in Montenegro, perhaps an enterprizing seaman might wish to appropriate it?

Letters of Marque and Reprisal are only valid against STATE flagged vessels. If a private Russian citizen's Tunisian flagged yacht is seized by an American operating on an American government issued Letter of Marque and Reprisal when the United States of America is NOT in a state of war with Tunisia, then they have committed an act of piracy and could be subject to whatever penalties Tunisian law provides.

 

[coyote505]

Letters of Marque and Reprisal are only valid against STATE flagged vessels. If a private Russian citizen's Tunisian flagged yacht is seized by an American operating on an American government issued Letter of Marque and Reprisal when the United States of America is NOT in a state of war with Tunisia, then they have committed an act of piracy and could be subject to whatever penalties Tunisian law provides.

Serious question here, not a slapback. What if a U.S. court were to find that the beneficial owner of the yacht was, in whole or in part, Vladimir Putin?

 

[mrjurrs]

Sounds like a fun assignment.

U.S. launches 'KleptoCapture' task force aimed at Russian oligarchs

I don't know the answer for this, do you?

Under US law, I believe asset confiscation requires some sort of underlying crime. Are we enforcing an American law, and if so, which law?

 

[TU Curmudgeon]

Serious question here, not a slapback. What if a U.S. court were to find that the beneficial owner of the yacht was, in whole or in part, Vladimir Putin?

Interesting question.

Now, what jurisdiction does an American court have, under International law, to determine cases concerning Russian assets held, under Russian law, by Russian citizens who live in Russia and have no connection to the United States of America?

PS - Countries go to war against other countries and not against individuals (well, at least they did for centuries up until 19 March 2003).

 

[vanceen]

Sorry, I guess that the colloquial use of the word "read" to mean "interpret" confused you.

Actually, no. But usually an interpretation of a document has some basis in the content of a document.

 

[coyote505]

Interesting question.

Now, what jurisdiction does an American court have, under International law, to determine cases concerning Russian assets held, under Russian law, by Russian citizens who live in Russia and have no connection to the United States of America?

PS - Countries go to war against other countries and not against individuals (well, at least they did for centuries up until 19 March 2003).

I am assuming here that this issue would be argued in the same messy international brouhaha that the official freezing, and possible later expropriation, of other oligarch assets by the US and other governments will end up in. I'm interested in your thoughts here.

 

[georgephillip]

Sounds like a fun assignment.

U.S. launches 'KleptoCapture' task force aimed at Russian oligarchs

Your link:

"On Tuesday night, President Joe Biden in his State of the Union speech assailed Putin for his country's attack on Ukraine and put Russian oligarchs and other government leaders he said were corrupt on notice that the Justice Department would be coming for their assets.

"'We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets. We are coming for your ill-begotten gains,' Biden said."

 

[TU Curmudgeon]

I am assuming here that this issue would be argued in the same messy international brouhaha that the official freezing, and possible later expropriation, of other oligarch assets by the US and other governments will end up in. I'm interested in your thoughts here.

My understanding of the relevant law is that the US government has absolutely no jurisdiction to penalize a non-American for actions which are not undertaken within the legal jurisdiction of the United States of America and especially so when the actions were "legal" where they were undertaken.

That would mean that the US government has no legal authority to seize the assets of a citizen of "Country X" when those assets are situate in "Country Y" and are not within the legal jurisdiction of the United States of America.

The question of whether or not the government of "Country A" has the legal authority to seize the assets of "PERSON B" (a private citizen of any other country) because of actions which that citizen were "legal" within the laws of the country in which they were undertaken is a completely different matter REGARDLESS of whether the actions were "legal" according to the laws of "Country A" is one that, in my opinion, is best answered in the negative (REGARDLESS of how despicable I consider actions of "PERSON B" to have been).

However, the US government does have the legal jurisdiction to penalize "Country C" if the government of "Country C" either takes actions which the US government does not approve or does not take the actions which the US government demands it takes. That jurisdiction does not, in my opinion, apply to individuals.