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U.S. Treasury Defends Russian Billionaires’ List Against Critics

  • Department reiterates that new sanctions are in the offing
  • Democrats complain that penalties did not accompany list
A statue of Albert Gallatin stands outside the U.S. Department of the Treasury building stands in Washington, D.C., U.S., on Friday, July 29, 2011. President Barack Obama and congressional leaders began a fresh attempt to reach agreement on raising the U.S. debt cap, with a potential framework for a deal emerging two days before a default deadline.
Photographer: Andrew Harrer/Bloomberg
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The U.S. Treasury Department offered further explanation of the way it developed a list of business and political figures that it said were close to Russian President Vladimir Putin, seeking to defend itself against criticism that the process was hasty or superficial.

The department late Monday identified 210 billionaires and top officials -- so-called oligarchs -- in a sweeping list required under bipartisan legislation passed last summer.