A pair of U.S.-blacklisted Russian billionaires purchased nearly $20 million worth of artworks through anonymous shell companies as well as American art dealers and auction houses, federal lawmakers have found.
The U.S. Treasury Department has accused a prominent Lebanese diamond dealer and a Congo-based money launderer of funneling tens of millions of dollars to the Lebanese militia, Hezbollah, and buying high-end art works to evade sanctions.
The U.S. Treasury Department's Office of Foreign Assets Control issued an advisory regarding sanctions risks in relation to dealings in high-value artwork associated with designated persons, including those on the List of Specially Designated Nationals and Blocked Persons.
October 30, 2020