As part of sanctions against Russia’s invasion of Ukraine, the United States, United Kingdom, and other European Union nations are cracking down on Russian oligarchs, freezing assets and tracking the yachts, private jets, and luxury real estate holdings of oligarchs.
But the U.S. faces a major obstacle in this effort, which is our country has become a major destination tax haven for criminal and oligarch wealth from around the world, not just Russians. While other EU countries have been increasing transparency and cracking down on kleptocratic capital, the U.S. is a laggard. As the Pandora Papers disclosed, the U.S. has become a weak link in the fight against global corruption.
Read more, article by Chuck Collins