US Charges Head of Russian Bank for Sanctions Violations: A Closer Look
In a move to exert financial pressure on Russia amid the ongoing war in Ukraine, the Justice Department of the United States has announced a series of arrests and indictments against Russian businessmen and their facilitators. These cases, spanning across multiple states, aim to hold individuals accountable for sanctions violations and money laundering schemes.
Among those targeted by the Justice Department is Andrei Kostin, the long-time president of VTB Bank, one of Russia's largest state-owned banks. Kostin has been under U.S. sanctions since 2018, and the recent charges allege that he evaded these sanctions by owning and controlling assets worth over $135 million. The assets in question include two superyachts and a luxury home in Aspen, Colorado.
Accompanying Kostin in the indic...