Why it matters: The US and other governments are moving to financially crush the oligarchs with ties to Russian President Vladimir Putin in order to influence his actions in Ukraine and, in the long run, limit the power of Putin and his circle, according to Axios Emily Peck.
“Ukraine needs all the help it can get and, at the same time, we need all the assets we can raise to give Ukraine the help it needs,” Sumer told a news conference in New York. “It’s time for Russian oligarchs who have been sanctioned to be held accountable for the illicit wealth they have received,” Sumer added.
Leading the news: Sumer’s announcement follows a Biden government proposal last week for the federal government to sell assets seized by Russian oligarchs for Russian military incursions into Ukraine and use the proceeds for military and humanitarian aid. Details: “These oligarchs, loyal to Putin, are extremely rich and have bought this kind of assets, which are here in the United States,” Sumer said.
“This is the kind of thing we’re talking about: yachts, mansions,” Sumer said, noting that artwork and helicopters would also be targeted. “You might ask, ‘Are any of these assets in New York?’ Obviously, it’s a whole bunch,” he added.
By the Numbers: More than a dozen Russian-owned sanctioned yachts have been seized or identified for seizure by governments around the world since the Russian military first invaded Ukraine on February 24. Zoom in: United Nations officials say there is no doubt that Russian forces are using food as a weapon of war in Ukraine.
An analysis by the Economist Intelligence Unit published earlier this year predicted that a Russian military strike on Ukraine would hit the Ukrainian economy by 47% in 2022.
Shrinkage: USAID Administrator Samantha Power told ABC’s “This Week” on Sunday that growing global food shortages were “another catastrophic result” of the invasion. Go deeper: Control panel: Russian invasion of Ukraine
