Minutes of the Meeting of Deputies of the Working Group on Russian Elites, Proxies and Oligarchs (REPO) | takeover bid

Deputy Treasury Secretary Wally Adeyemo and Deputy Attorney General Lisa O. Monaco brought together MPs from the Task Force on Russian Elites, Proxies and Oligarchs (REPO) today to expedite efforts to confiscate assets of oligarchs in response to Russia’s illegal war in Ukraine.

Participants from Australia, Canada, the European Commission, France, Germany, Japan, Italy, the United Kingdom and the United States discussed ongoing initiatives to adapt tools for confiscation of already robust assets and maximize the impact of our joint work on Russian elites and their cronies. for their complicity in Putin’s illegal invasion. Participants noted legislative efforts, including the administration’s proposals to expedite the confiscation of oligarchs’ assets, confiscate assets used to facilitate sanctions evasion, expand our ability to enforce foreign confiscation in US courts and to include sanctions and export control violations among the crimes that fall within the definition of racketeering. Together, these proposals would expand our ability to confiscate assets, including those of entire criminal enterprises.

As Russia continues to commit gross violations of international law, the United States remains committed to using every tool at its disposal to hold Russia accountable and help Ukraine. Together with our partners, the actions we have taken so far have tied up Russian assets as one of many ways to induce Russia to comply with its obligations under international law, including the obligation to pay repairs. We have also degraded Russia’s ability to wage its unjust war by limiting Russia’s access to the global financial system and the technology and other imports it needs to maintain its military industrial base and equip its armed forces.

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