The case
Quote: “In considering what the medium and long-term targets should be … the task force has focused on intermediary networks, procurement networks, and money laundering networks.”
Source: WSJ
The commentary
The US task force has been shifting its attention from seizing oligarchs’ yachts and private jets to the corporate networks behind them. The number of financial services firms targeted in the UK, Europe and Switzerland is expected to increase in the coming months. Financial intermediaries will have to analyse their exposure to Russians in order to properly assess the risks involved.
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