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Russian Oligarchs on U.S. Treasury List Facing Added Scrutiny

  • Roster compiled under Mnuchin may prompt asset shifting
  • Some banks treating oligarchs as ‘politically exposed persons’

Russia’s billionaire oligarchs are beginning to face additional scrutiny on at least some financial transactions following U.S. publication of a list of wealthy Russians identified as allies of President Vladimir Putin.

One wealthy Russian on the list who spoke on condition of anonymity said he’s worried a deal with foreign partners expected to close in the next few months may collapse. Another said his reputation has been seriously damaged since the Treasury Department released a congressionally mandated report last week naming 210 Russian billionaires and top government officials.