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☆ Russia is spending millions to create a new generation of militant Putin clones
▼ + stars: | 2024-07-20 | by ( Cameron Manley | ) www.businessinsider.com time to read: +7 min

Read previewFor years, Russia's youth has been fed hardline nationalistic ideology as the Kremlin has sought to engineer a new generation of Putin clones. AdvertisementState-run youth groups have also dramatically increased in size since Russia launched its full-scale invasion of Ukraine in 2022. The group's head said it had opened around 40,000 offices across Russia as of December 2023, per Russia's state-run TASS news agency. DMITRY KOSTYUKOV/AFP via Getty ImagesThe various Academics fraternity cells are largely similar in style, though some display more extreme behavior than others. It's all part of "a much bigger campaign to target the next generation of Russian youth."

Persons: —, Putin, Sergei Novikov, Vladimir Putin, Ian Garner, Garner, Mikhail Komin, frat, Nikita Izyumov, Konstantin Malofeyev, Izyumov, Komin, DMITRY KOSTYUKOV, David Lewis, Izymov, Lewis, ALEXANDER NEMENOV, Young Organizations: Service, Kremlin, Business, RBC, Russia, European Council, Foreign Relations, Fraternity, West, Academics, Getty, University of Exeter, Ministry of Defence, UK's MoD, Fraternity of Locations: Russia, Ukraine, Russian, Rome, Moscow, Constantinople, AFP, Chelyabinsk

The idea of using Russia's frozen assets is gaining new traction lately as continued allied funding for Ukraine becomes more uncertain and the U.S. Congress is in a stalemate over providing more support. Bipartisan legislation circulating in Washington called the Rebuilding Economic Prosperity and Opportunity for Ukrainians Act would use assets confiscated from the Russian Central Bank and other sovereign assets for Ukraine. Belgium, which is holding the rotating presidency of the European Union bloc for the next six months, is now leading the talks on whether to seize Russia's assets. Belgium is also the country where most frozen Russian assets under sanctions are being held. Maria Snegovaya, a senior fellow at the Center for Strategic and International Studies, cautioned that if Ukraine's immediate needs aren't met, “no amount of seized Russian assets is unfortunately going to compensate for what may happen."

Persons: — It's, Volodymyr Zelenskyy, “ Putin, ”, ” Biden, Penny Pritzker, “, Nicholas Mulder, Vladimir Putin, Shalanda Young, ” Young, ” Sergey Aleksashenko, Treasuries —, Konstantin Malofeyev, Alexander De Croo, De Croo, Maria Snegovaya, aren't, Ellen Knickmeyer, Lisa Mascaro, Seung Min Kim, Zeke Miller, Aamer, Sam Petrequin, Jamey Keaton Organizations: WASHINGTON, Russian Central Bank, U.S ., U.S, ., ”, Ukraine, Russia, Cornell University, Washington, Russia's Central Bank, White, Management, Russian Central Banker, Russian, Justice Department, State Department, European Union, Belgian, Center for Strategic, International Studies, Associated Press Locations: United States, Ukraine, Davos, Switzerland, Ukrainian, Washington, “, America, Russia, Russian, U.S, China, Frankfurt, Belgium, Brussels

☆ Putin's mouthpiece lashed out after the US announced plan to send $5.4 million in seized Russian oligarch funds to Ukrainian veterans
▼ + stars: | 2023-09-08 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

The US announced plans to send $5.4 million in seized Russian oligarch assets to Ukraine. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. US Secretary of State Antony Blinken announced the venture during his visit to Kyiv on Wednesday, saying the US would transfer to Ukraine $5.4 million in assets that once belonged to Russia's powerful oligarchs. Kremlin spokesperson Dmitry Peskov said such a transfer would be unlawful, Russian state media outlet TASS reported. The US and other Western allies have frozen at least $58 billion worth of Russian oligarch-owned assets since the war began.

Persons: Antony Blinken, Blinken, Dmytro Kuleba, Dmitry Peskov, Peskov, Vladimir Putin, Konstantin Malofeyev, Malofeyev, Jack Hanick, Hanick, Blinken's Organizations: US, Russian, Department, Service, Ukrainian Foreign, Russian Federation, US State Department, Daily, Putin, Fox News, Justice Department, Ukraine —, The Justice Department Locations: Ukraine, Wall, Silicon, Kyiv, Russia, Moscow, Crimea, Texas, Greece, London

He calls for a return of the Russian Empire, and has repeatedly denied the existence of a Ukrainian identity. Mr. Malofeyev has been cut off from most Western financial systems since 2014, when the Treasury Department and other international regulators accused him of financing Russian proxy forces inside Ukraine. Mr. Malofeyev, though, has continued to use his charity, the St. Basil the Great Foundation, to raise money for orphanages in the Russian-occupied Donbas and Zaporizhzhia regions. In an interview, Mr. Malofeyev said he did not know whether those orphanages hosted Ukrainian children who had been forcibly relocated, but said the resettlement effort had been unfairly demonized.

Persons: Konstantin Malofeyev, Malofeyev, Basil the Organizations: Hague, Treasury Department, Basil the Great Foundation Locations: Russian, Russia, Ukraine

☆ Head of US 'KleptoCapture' unit targeting Russian oligarchs leaves Justice Dept.
▼ + stars: | 2023-07-27 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

Andrew Adams, who has led the "KleptoCapture" task force since its inception in March 2022, will be replaced by his deputies Michael Khoo and David Lim, a DOJ spokesperson said. "It was a privilege to cap this time in service of the Department's response to the war in Ukraine," Adams, a 10-year Justice Department veteran, wrote in a LinkedIn post. In launching the task force, U.S. Attorney General Merrick Garland said it would enforce sanctions and export controls designed to freeze Russia out of global markets, and confiscate assets obtained through unlawful conduct. During Adams' tenure, the unit unveiled indictments against aluminum magnate Oleg Deripaska and TV tycoon Konstantin Malofeyev for alleged sanctions busting, and seized yachts belonging to sanctioned oligarchs Suleiman Kerimov and Viktor Vekselberg. Reporting by Luc Cohen in New York; Additional reporting by Sarah N. Lynch in Washingon, D.C.; Editing by Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Adams, Michael Khoo, David Lim, Adams, General Merrick Garland, Oleg Deripaska, Konstantin Malofeyev, Suleiman Kerimov, Viktor Vekselberg, Artem Uss, Khoo, Lim, Luc Cohen, Sarah N, Lynch, Daniel Wallis Organizations: U.S . Department, Reuters, Department of Justice, DOJ, Department, Vekselberg's, Huawei Technologies, Iran, Airbus, D.C, Thomson Locations: Moscow, Ukraine, New York City , New York, U.S, Russia, York, Russian, Italy, New York, Washingon

☆ U.S. attorney general OKs transfer of forfeited funds from Russia oligarch for use in Ukraine
▼ + stars: | 2023-05-10 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, May 10 (Reuters) - U.S. Attorney General Merrick Garland has authorized the first transfer of forfeited Russian assets for use in Ukraine, he said on Wednesday. The Justice Department last year charged Russian oligarch Konstantin Malofeyev with violating sanctions imposed on Russia after its invasion of Ukraine, saying he provided financing for Russians promoting separatism in Crimea. In February, Garland said he authorized the transfer of that money for use in Ukraine. "While this represents the United States’ first transfer of forfeited Russian funds for the rebuilding of Ukraine," Garland said, "it will not be the last,” he said in a statement. Reporting By Paul Grant; editing by Jasper Ward and Doina ChiacuOur Standards: The Thomson Reuters Trust Principles.

☆ Treasury warns against Russia's efforts to evade sanctions with crypto
▼ + stars: | 2022-09-20 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

Russian President Vladimir Putin could use cryptocurrencies to evade U.S. and other sanctions launched against the Kremlin for its unprovoked invasion of Ukraine, a Treasury official told lawmakers Tuesday. Warren said she'd been concerned about the possibility of cryptocurrency being used by Russian elites to bypass sanctions since the country invaded in February. The Treasury Department has already identified Russian entities attempting to circumvent sanctions with crypto. Treasury issued its first-ever sanctions on these "mixers" in May and sanctioned another, "Tornado Cash," in August. Coinbase's chief legal officer, Paul Grewal, told CNBC that the sanctions set "a dangerous precedent," but Rosenberg called them effective.

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