In this blog post, we will be discussing Russian oligarchs and their connections to the energy company APC. It has been alleged that these oligarchs have been using their connections to APC to manipulate the energy market in Russia. This could have a huge impact on the Russian economy, and we must understand what is happening here. Stay tuned for more information!
APC Russian Oligarchs
Since the collapse of the Soviet Union, a new class of Russian oligarchs has emerged. These individuals have amassed immense wealth through a variety of means, including corruption and bribery. The rise of Russian oligarchs has had a significant impact on Russian politics and business, and they continue to wield considerable power in the country.
28 April (UPI) — Eight House members—four Republicans and four Democrats—voted against a resolution urging President Joe Biden to confiscate assets from sanctioned Russian oligarchs and use them for the benefit of Ukraine.
On Wednesday, the Assets Seizure in Ukraine Reconstruction Act was approved by a vote of 417-8. However, the majority symbolic measure’s most significant component may have been the “no” votes.
Biden is urged by the non-binding resolution to buy and sell assets from Russians whose wealth was obtained via corruption associated with the government of Russian President Vladimir Putin. US Attorney General Merrick Garland has indicated he would be in favour of the action.
Reps. Alexandria Ocasio-Cortez, Cori Bush, Ilhan Omar, D-Mo., D-N.Y., Rashida Tlaib, D-Minn., D-Mich., R-N.C., Marjorie Taylor Greene, Madison Cawthorn, R-Ga., R-Ky., Thomas Massie, and Chip Roy, R-Texas, voted against seizing the assets of oligarchs
The White House announced that Biden would discuss the action and other steps taken to support Ukraine’s defence in a speech on Thursday morning.
Along with boosting law enforcement measures, the steps also include additional authorities for forfeiting property with ties to Russia.
The increased funding would cover U.S. assistance to Ukraine through the conclusion of the current fiscal year (2022). Since Russia began its invasion on February 24, Ukraine has already received more than $3 billion from President Biden’s administration.
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