The U.S. Department of Justice announced that it’s creating a task force, KleptoCapture, aimed at crippling the finances of rich Russians to pressure their country to end its invasion of Ukraine. Meanwhile, Senate Finance Committee Chairman Ron Wyden (D-OR) is urging Congress to further fund the IRS Criminal Investigation unit. This arm of the IRS could play a key role in going after illicit Russian assets, but it has been “starved of resources,” Wyden said. His committee is also examining provisions of the U.S. tax system that could allow rich, politically connected Russians, particularly those close to President Putin, to hide assets and avoid taxes on assets stashed in the United States.
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