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U.S. DOJ Announces Task Force Aimed at Enforcing Russia Sanctions

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.

"Tonight, I say to the Russian oligarchs and corrupt leaders who have bilked billions of dollars off this violent regime: No more," Biden said Tuesday, adding, "We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets. We are coming for your ill-begotten gains."

Tags

f-risk, risk & compliance, international trade controls, international trade, economic sanctions, perspective, f-distress, risk management, c-russia

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