Treasury blocks $1 billion trust owned by Russian oligarch

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The Treasury Department has blocked a $1 billion Delaware-based trust connected to sanctioned Russian oligarch Suleiman Abusaidovich Kerimov. Thursday’s move comes after the U.S. seized a $325 million superyacht tied to the oligarch earlier in the month. Treasury officials say the size of the trust and the complexity of the investigation makes this a unique case. Treasury Secretary Janet Yellen says the department continues to use a full range of tools “to expose and disrupt” those who seek to evade sanctions and hide their ill-gotten gains.