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U.S. Treasury’s List of Putin ‘Oligarchs’ Jolts Russia’s Elite Class

  • Congress gave Jan. 29 deadline for Treasury to submit list
  • List does not impose sanctions, parts may remain classified
Bloomberg business news

How Putin Became the Symbol of Russian Power

The U.S. Treasury Department is finishing its first official list of “oligarchs” close to President Vladimir Putin’s government, setting off a flurry of moves by wealthy Russians to shield their fortunes and reputations.

Some people who think they’re likely to land on the list have stress-tested the potential impact on their investments, two people with knowledge of the matter said. Others are liquidating holdings, according to their U.S. advisers.