On March 2, 2022, the U.S. Department of Justice announced formation of a multi-agency task force targeted on enforcing existing, new, and future sanctions related to the Russian invasion of Ukraine. “Task Force Klepto Capture” operationalizes President Biden’s commitment during his March 1, 2022 State of the Union Address that the United States will apply a “whole of Government” approach to oppose and punish Russian actions related to Ukraine.
This action reflects the grave business impact of recent policy and regulatory developments arising from the response of the U.S. government and allied governments to the Russian invasion of Ukraine. Fully empowered and motivated federal prosecutors and investigators are now actively looking for opportunities to demonstrate the consequences of non-compliance with U.S. and allied sanctions. Companies, organizations, institutions, and investors need to understand the emerging risks and requirements; see how those risks and requirements affect their operations and business; and implement strategies, systems, and processes to successfully navigate this dynamic environment.
