Oligarch Assets Parked in the US Are Hidden in a Web of Financial Secrecy

Since Russia invaded Ukraine, there has been intense focus on Russian oligarchs - elites with enormous wealth and close ties to Russian President Vladimir Putin. The United States and international allies have imposed travel bans and economic sanctions on the billionaires, freezing accounts and impounding yachts and private jets. The goal is to disrupt the covert money funneled to Putin and his regime and to make the oligarch's lives difficult enough that they might pressure Putin to loosen his grip on Ukraine. Now President Biden's KleptoCapture task force faces the difficult and time consuming task of tracking down assets hidden in intricate webs of financial secrecy - many created by US regulations - that allow the oligarchy to hide their money and maintain power. We speak with Paul Massaro, a congressional foreign policy adviser who specializes in sanctions and illicit finance. In participating regions, you'll also hear a local news segment to help you make sense of what's going on in your community. Email us at considerthis@npr.org. Learn more about sponsor message choices: podcastchoices.com/adchoices NPR Privacy Policy