Gracetown Fined $7.1M for Aiding Russian Oligarch
Update: 2025-12-05
Description
The U.S. Treasury Department imposes a $7.1 million fine on Gracetown Incorporated for violating sanctions by managing properties for Russian oligarch Oleg Deripaska, close to Putin. OFAC warned Gracetown, but they continued, leading to the fine. Gracetown linked to British businessman Graham Bonham-Carter, arrested for conspiring to violate U.S. sanctions. Deripaska under sanctions since 2018, all assets blocked, and U.S. dealings forbidden. The Treasury emphasizes the importance of following OFAC guidance and the consequences of non-compliance.
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