US Fines NY Firm for Breaking Sanctions Against Russian Oligarch

The US imposed a $7 million penalty on a New York property-management firm for breaking sanctions against Russian oligarch Oleg Deripaska several years ago.

The Treasury’s Office of Foreign Assets Control said on Thursday it penalized real estate manager Gracetown Inc. for receiving two dozen payments between 2018 and 2020 on behalf of a firm owned by Deripaska, who has been under US sanctions for nearly eight years.

“Treasury will act firmly against those who ignore our sanctions and aid our adversaries,” the department’s undersecretary for terrorism and financial intelligence, John Hurley, said in a statement.

Representatives at Gracetown could ...