sunny.png
Sunday September 25th, 2022 5:09PM

Davos updates | Kremlin critic urges oligarch whistleblowers

By The Associated Press
Related Articles
  Contact Editor

DAVOS, Switzerland (AP) — Kremlin critic Bill Browder wants governments to step up efforts to get to riches squirreled away by Russian oligarchs linked to President Vladimir Putin by forcing accountants, lawyers and others who set up murky legal and financial structures to become whistleblowers.

Browder, author of the nonfiction best-seller “Freezing Order: “A True Story of Money Laundering, Murder and Surviving Vladimir Putin’s Wrath,” says Russia’s war in Ukraine has raised the focus on how the oligarchs are custodians of the Russian leader’s wealth.

He told The Associated Press on Tuesday at the annual World Economic Forum meeting in Davos that “oligarchs are not naïve.” He says they have lawyers, asset protection specialists and shell companies.

The founder of Heritage Capital, an early investor in post-Soviet Russia, Browder raised the alarm after his Russian tax adviser Sergei Magnitsky died in a Russian prison in 2009.

Browder credited U.S. efforts to put a squeeze on the Kremlin since the war began, by putting a freeze on the assets of Russia’s central bank, chasing the oligarchs, halting exports of technology to Russia and supplying weapons to Ukraine.

But when it comes to getting Russian oligarchs’ money, Browder says “we’re only scratching the surface.”

Citing a “quite radical” solution, Browder says “what would solve the problem … is to force the people who set up these structures, the enablers, the lawyers, the accountants, the trustees under law to become whistleblowers for the government.”

He says such an amendment to money laundering and sanctions laws should come with fines and imprisonment.

___

The European Union’s top official said the 27-nation bloc should avoid becoming dependent to untrustworthy countries, like it did with fossil fuels from Russia, as it moves toward a greener economy with the need to find crucial raw materials.

Speaking Tuesday at the World Economic Forum’s annual gathering in Davos, European Commission Ursula von der Leyen said the “economies of the future” will no longer rely on oil and coal.

She says the green and digital transitions will increase the need for materials like lithium and silicon metal required for batteries, chips, electric vehicles or wind turbines.

The head of the EU’s executive arm says “we rely on a handful of producers in the world. So, we must avoid falling into the same trap as with oil and gas.”

Von der Leyen said the EU has secured materials partnerships with countries like Canada.

She added that the war in Ukraine has strengthened Europe’s determination to quickly get rid of Russian fossil fuels. EU countries have approved an embargo on coal from Russia but has yet to find a deal on sanctions targeting oil.

___

The head of the European Union’s executive arm says Russia’s war in Ukraine should end with a “strategic failure” for the invading country as she pledged Tuesday that the bloc will continue to invest massively in support of the war-torn nation.

In addition to the economic sanctions imposed on Russia and the military aid provided to Ukraine, European Commission President Ursula von der Leyen said the 27-nation EU has proposed over 10 billion euros in macro-financial assistance, the largest package ever offered to a third country.

She said the World Economic Forum’s annual gathering that the EU is “mobilizing our full economic power" and “we will, hand in hand, help Ukraine rise from the ashes.”

Von der Leyen added that reconstruction efforts also should aim to modernize Ukraine’s administration. It will be required if the country wants to join the 27-nation bloc in the future.

She says the reforms should “firmly establish the rule of law and the independence of (Ukraine’s) judiciary” and help tackle corruption.

___

The World Economic Forum’s annual gathering is resuming for a second day, with business leaders, government officials, representatives from global institutions and journalists gearing up for more panel talks and networking at the exclusive meeting in the Swiss Alps.

Tuesday’s agenda in Davos is packed with sessions on one of the meeting’s key themes — climate change. U.S. climate envoy John Kerry is due to make an appearance.

There also will be addresses by Spanish Prime Minister Pedro Sanchez, European Commission President Ursula von der Leyen and NATO Secretary-General Jens Stoltenberg.

Meanwhile, outside the conference venue, a Ukrainian activist was planning a street performance to urge foreign energy companies to stop doing business with Russia.

Later, billionaire financier George Soros is hosting a dinner for media — a non-official forum event but a fixture outside the Davos meeting.

  • Associated Categories: Associated Press (AP), AP World News, AP Entertainment, AP Business, AP Business - Economy
© Copyright 2022 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Davos updates | Kremlin critic urges oligarch whistleblowers
Kremlin critic Bill Browder wants governments to step up efforts to get to riches squirreled away by Russian oligarchs linked to President Vladimir Putin by forcing accountants, lawyers and others who set up murky legal and financial structures to become whistleblowers
6:05AM ( 7 minutes ago )
Davos updates | EU's top official pushes move away from oil
The European Union’s top official said the 27-nation bloc should avoid becoming dependent to untrustworthy countries, like it did with fossil fuels from Russia, as it moves toward a greener economy with the need to access crucial raw materials
5:49AM ( 23 minutes ago )
Several injured in train, bus collision in southern Germany
Several people have been injured when a train collided with a bus at a railroad crossing in southern Germany
5:48AM ( 24 minutes ago )
Associated Press (AP)
Davos updates | Climate top of the agenda amid key speeches
The World Economic Forum’s annual gathering is resuming for a second day, with business leaders, government officials, representatives from global institutions and journalists gearing up for more panel talks and networking at the exclusive meeting in the Swiss Alps
4:23AM ( 1 hour ago )
South Asia's intense heat wave a 'sign of things to come'
The intense heat wave sweeping through South Asia was made more likely due to climate change and is a sign of things to come
4:17AM ( 1 hour ago )
Live updates | Russian official seeks base in Kherson region
A Russian-installed official in Ukraine’s Kherson region says the region’s pro-Kremlin administration will ask Moscow to set up a military base there
3:53AM ( 2 hours ago )
AP World News
Amidst threats, Kadri scores 3 in Avs' 6-3 win over Blues
Avalanche forward Nazem Kadri refused to buckle in the face of death threats, racial slurs, a booing St. Louis crowd and a few post-whistle hits
1:36AM ( 4 hours ago )
PEN America honors activists, artists and dissidents
From an imprisoned Ukranian journalist to a high school activist in Florida, PEN America paid tribute Monday night to democracy and free expression and warned about the dangers faced in the U.S. and abroad
12:25AM ( 5 hours ago )
Bruce Springsteen and E Street Band to tour in US, Europe
The Boss is hitting the road again
9:03PM ( 9 hours ago )
AP Entertainment
Asia shares trading lower as inflation worries cloud outlook
Asian shares are trading lower as worries over inflation temper optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports
1:48AM ( 4 hours ago )
AP-NORC poll: Economy grows as priority on Russia response
Americans are becoming less supportive of punishing Russia for launching its invasion of Ukraine if it comes at the expense of the U.S. economy, a sign of rising anxiety over inflation and other challenges
12:24AM ( 5 hours ago )
NHL, St. Louis police looking at threats against Avs' Kadri
The NHL and St. Louis police are investigating threats the Colorado Avalanche say were made toward forward Nazem Kadri
11:23PM ( 6 hours ago )
AP Business
After 3 months of war, life in Russia has profoundly changed
When Vladimir Putin announced Russia's invasion of Ukraine, the war seemed far away from Russian territory
8:32PM ( 9 hours ago )
Global Citizen NOW summit seeks solutions for global issues
The statistics discussed at the inaugural Global Citizen NOW conference were bleak
6:34PM ( 11 hours ago )
Wall Street ends higher following 7 straight weeks of losses
Stocks closed higher on Wall Street Monday following seven weeks of declines that nearly ended the bull market that began in March 2020
4:53PM ( 13 hours ago )
AP Business - Economy
Davos updates | EU's top official pushes move away from oil
The European Union’s top official said the 27-nation bloc should avoid becoming dependent to untrustworthy countries, like it did with fossil fuels from Russia, as it moves toward a greener economy with the need to access crucial raw materials
5:49AM ( 24 minutes ago )
Several injured in train, bus collision in southern Germany
Several people have been injured when a train collided with a bus at a railroad crossing in southern Germany
5:48AM ( 25 minutes ago )
Ukraine's president accuses Russia of waging 'total war'
Ukraine's president has accused Russia of waging “total war,” seeking to inflict as much death and destruction as possible in three months of conflict
5:47AM ( 26 minutes ago )
Davos climate focus: Can 'going green' mean oil and gas?
Government and corporate leaders at the World Economic Forum are debating whether oil and gas companies can or should be part of the future transition to renewable energies such as wind and solar
5:39AM ( 34 minutes ago )
WHO chief to be confirmed for 2nd term after no opposition
World Health Organization director-general Tedros Adhanom Ghebreyesus is expected to be confirmed by the U.N. health agency’s member countries for a second five-year term
5:31AM ( 41 minutes ago )