US Department of Justice disbands task force to track russian oligarchs' assets

US Attorney General Pam Bondi has disbanded the Department’s of Justice task force that tracked the assets of russian oligarchs.

This was reported by Reuters with reference to a memo.

Bondi explained the decision by the need to change priorities in law enforcement:

"This policy requires a fundamental change and approach," she said, adding that resources will be directed to fighting drug cartels.

The KleptoCapture task force was created by the Biden administration after russia's full-scale invasion of Ukraine in 2022. It was engaged in prosecuting associates of russian president vladimir putin, freezing their assets and identifying schemes to circumvent sanctions.

Journalists emphasize that the disbanding of the group is part of a change in the US approach to sanctions policy:

"It was part of a larger effort to oust russia from global markets and ensure the implementation of wide-ranging sanctions imposed on Moscow against the backdrop of international condemnation of its war in Ukraine."

According to the directive of the Attorney General, prosecutors who worked at KleptoCapture will return to their previous positions. The new order will be in effect for at least 90 days, but can be extended or made permanent.

By February 2024, KleptoCapture had frozen or secured the confiscation of assets of russian oligarchs worth almost USD 700 million. In addition, the group has indicted more than 70 people for violating sanctions and export controls against russia.

As Ukrainian News Agency earlier reported, on January 6, President Volodymyr Zelenskyy called on international partners to accelerate the creation of a legal framework that would allow the confiscation of frozen assets of the Central Bank of the russian federation to assist Ukraine.

As a reminder, on January 11, Bloomberg reported that the administration of US President Joe Biden supports a bill on the confiscation of frozen assets of the russian federation for their subsequent transfer to Ukraine.

Bloomberg also reported, citing sources, that the authorities of the terrorist country of russia have begun preparations for the confiscation by the West of the Central Bank's reserves, which were frozen by sanctions after the start of the full-scale war in Ukraine.

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