The Treasury Department’s Financial Crimes Enforcement Network said that sanctioned entities might rely on complexity and lack of transparency around commercial real estate to maintain their U.S. financial presence.
“Thanks to international pressure and the economic restrictions that more than 30 countries have imposed on Russia for its brutal war against Ukraine, sanctioned Russian elites are increasingly left with fewer options for moving and hiding their ill-gotten wealth, ' Himamauli Das, acting director of FinCEN, said in a statement.