US investigators: Russian oligarchs trying to evade sanctions

US investigators claim that they have found Russian oligarchs are trying to evade sanctions which are part of Washington’s offensive against Moscow over the military campaign in Ukraine, according to the head of a new Justice Department task force.

Andrew Adams, a veteran prosecutor tapped to lead the task force established last month said on Friday that in some cases, even Russian oligarchs who are not sanctioned are trying to move assets ahead of potential future penalties, according to Reuters.

Adams said that oligarchs trying to evade sanctions are facing an "all-time high" level of international cooperation to track the wealth of Russian elites.

"There are efforts afoot - some of them publicly reported - to move, for example, moveable property in the forms of yachts, airplanes ... into jurisdictions where, I think, people have the perception that it would be more difficult to investigate and more difficult to freeze," Adams said.

The Biden administration has imposed harsh economic and banking sanctions on Russia in response to Russia's military actions in Ukraine.

Biden said the sanctions would limit Russia's ability to do business in dollars, euros, pounds and yen.

The US president claimed that the only other alternative to the sanctions would be to start a “Third World War.”

Russian President Vladimir Putin said earlier this month that Western sanctions on Russia were akin to a declaration of war.

ME