U.S. Treasury Cracks Down on New York Firm Enabling Putin Ally’s Sanctions Evasion

In yet another revealing chapter of how foreign adversaries exploit the American financial system, the U.S. Treasury Department has imposed a hefty $7.1 million penalty on Gracetown Inc., a New York-based property management firm, for illegally managing luxury properties linked to oligarch Oleg Deripaska—one of Vladimir Putin's closest allies. This enforcement action lays bare the persistent challenge America faces: entities within our borders acting as conduits for Kremlin-affiliated billionaires who are subject to stringent sanctions designed to protect U.S. national security interests. Gracetown processed at least 24 payments totaling over $31,000 from companies tied to Deripaska between April 2018 and...