U.S.-backed REPO task force seized $30 billion in Russian oligarchs' yachts, other assets, since March

Seized Russian yacht
(Image credit: Eugene Tanner/AFP/Getty Images)

A multinational task force set up after Russia's invasion of Ukraine to seize the wealth of Russian oligarchs has seized or frozen $30 billion worth of yachts, luxury real estate, and other assets in its first 100 days, the U.S. Treasury Department said Wednesday. The Russian Elites, Proxies and Oligarchs (REPO) task force's "work is not yet complete," the department said. "We continue to increase Russia's cost of its war."

The Treasury Department and Justice Department launched REPO on March 16, and its members also include Britain, Canada, France, Germany, Italy, Australian, Japan, and the European Commission. The Justice Department's new Task Force KleptoCapture and European Commission's Freeze and Seize Task Force collaborate with REOP to investigate Russian President Vladimir Putin and his allies and seize their assets.

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.