This article was originally published by Radio Free Europe/Radio Liberty and is reprinted with permission.
The U.S. Department of Justice is seeking broader authority from Congress to seize Russian oligarchs’ assets, a department official told a congressional panel on July 19.
Andrew Adams, who leads the department’s KleptoCapture task force, told the Senate Judiciary Committee that the additional authority would be used to increase pressure on Moscow over its invasion of Ukraine.
Prosecutors want the statutes of limitations for some financial crimes, such as money laundering, to be extended to 10 years to give prosecutors “time to follow the money,” Adams said.
Another change they are seeking is the forfeiture of assets used to evade U.S. sanctions. Adams said prosecutors should be able to seek such forfeitures, not just the proceeds of sanctions evasions.
The testimony comes as Congress considers legislation to allow the proceeds from seized assets to be used to help the people of Ukraine.
The task force that Adams leads was launched in March to enhance the United States’ ability to seize the assets of wealthy Russian oligarchs, such as yachts and private jets.
The United States and several European governments have said the seizures are aimed at pressuring business leaders close to Russian President Vladimir Putin to convince him to halt the war in Ukraine.
The United States has seized several yachts and planes belonging to oligarchs, but before those assets can be liquidated, prosecutors must win permanent forfeiture orders through a legal process that can be lengthy.
