Naru's Sovereignty

The island of Naru is the world's smallest nation, with a population of about 12,000 people. It has been used as an offshore processing center for asylum seekers by Australia. In the late 1990s, prior to this period, Naru was the chief money laundering location for the emerging Russian oligarch class. Since Australia stopped doing that in 2019, Sam Bankman-Fried and his fellow effective altruists felt like they might have had an opportunity there.