NEW YORK — Manhattan Borough President Mark Levine once again called for expanded sanctions against Russia to allow the seizure of oligarchs’ pricey real estate holdings in New York.
As the Russian invasion of Ukraine enters its second week, Levine demanded more brutal action to target cronies of strongman Vladimir Putin.
“We’re still waiting for the U.S. gov’t to place the broad circle of oligarchs connected to Putin on the sanctions list,” Levine tweeted. “This is the prerequisite to seizing the ultra luxe apartments many hold in Manhattan.”
“Let’s do it NOW,” he added.
In the UK, home to several Russian oligarchs, including aluminum mogul Igor Deripaska, banker Michael and Roman Abramovich, owner of Chelsea Football Club, London Mayor Sadiq Khan wants their real estate — estimated to be worth £1.1 billion — be taken away, according to The Atlantic.
“For far too long, ministers have turned a blind eye to the use of our capital’s homes as a safe harbor for oligarchs to park their cash, which is having a negative impact on both our international reputation and our local housing market,” Khan said. “Now is the time to act.”
Although not currently sanctioned by the U.K. or the U.S., Abramovich, worth an estimated $13.9B according to Bloomberg, has since given the stewardship of the club to trustees and transferred ownership of nearly $100M in New York City properties to his ex-wife, Dasha Zhukova, a close friend of former First Daughter, Ivanka Trump.
But so far, the U.S. Treasury Department, which implements the sanctions, has not taken any formal steps against oligarch-owned real estate. The agency did not immediately respond to requests for comment.
American officials have warned that they plan to go further to target wealthy oligarchs “to take their yachts, their luxury apartments, their money, their ability to send their kids to college abroad.”
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