Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence cover image

Season 5, Episode 6: All things financial crime

Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence

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Do You Think the U.S. Is Going to Be Able to Get Out of the Yachts?

U.S. officials have been talking about freezing assets and liquidating them, potentially putting them in a fund for Ukrainian reconstruction eventually. But we haven't really seen much of that happening here; I think we're still very much in the asset freezing space instead of the asset seizing process. Treasury Secretary Janet Yellen recently came out and made a public statement with regard to Russian central bank funds frozen in the United States. She was making the point that U.S. law does not allow for the taking possession of those assets and distributing them to Ukraine. We may end up seeing assets forfeited, but that would have to be done through the court system, through district court.

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