President Joe Biden has tasked the U.S. Justice Department with confronting and seizing the assets of Russian oligarchs in the wake of Biden’s State of the Union address.
U.S. Attorney General Merrick B. Garland confirmed a new task force, dubbed KleptoCapture, which is planned to take extreme measures to seize the assets of Russian billionaires, according to a story by USA Today. Biden announced the task force March 1 during the State of the Union address.
"Tonight I say to the Russian oligarchs and corrupt leaders who have bilked billions of dollars off this violent regime – no more,” Biden said during his speech. “The U.S. Department of Justice is assembling a dedicated task force to go after the crimes of Russian oligarchs."
After Biden confirmed the task force, he addressed the Russian underworld leaders directly, saying, "We are joining with our European allies to find and seize your yachts, your luxury apartments and your private jets. We are coming for your ill-begotten gains."
Garland said KleptoCapture will utilize federal resources from the FBI, the Treasury Department and the IRS.
"The Justice Department will use all of its authorities to seize the assets of individuals and entities who violate these sanctions,” Garland said. "We will leave no stone unturned in our efforts to investigate, arrest and prosecute those whose criminal acts enable the Russian government to continue this unjust war.”
In the State of the Union, Biden condemned the invasion of Ukraine by Russian President Vladimir Putin, which began Feb. 24.
"Putin’s latest attack on Ukraine was premeditated and unprovoked," Biden said.
