Welcome back!
In the weeks since the invasion of Ukraine sparked a global hunt for the riches of Russian oligarchs, we’ve been getting a lot of questions at ICIJ.
That’s because ICIJ is known for its years of groundbreaking reporting on the financial secrets of Russian elites close to Vladimir Putin. Investigations like the Pandora Papers, Panama Papers and more have made it clear that targeting the wealth of Kremlin allies is no easy task, since so much of it is hidden away offshore using complex networks of shell companies, proxies and middlemen.
But what does that mean for sanctions aimed at the Putin regime? Today, we’re answering some of the key questions and concerns that we’ve heard from readers like you.
First up is an FAQ explaining the fundamentals of hidden Russian wealth. We break down common questions about oligarchs, why they’re important to the Putin regime, and what we’ve learned from our investigations on how the offshore system serves their interests.
We also spoke to Oliver Bullough, a journalist who’s long written about Russia, kleptocrats and financial crime, about the role Western countries play in shaping the offshore economy, and what it would take to make today’s sanctions against Russia more than symbolic.
“The question that I think all governments are confronting at the moment is, how much do we care about the Ukrainians?” Bullough told us in an interview. “Do we care enough about them to inconvenience our own rich people?”
Still got questions about the financial secrets of Russian elites? You can talk directly with our reporters at the next ICIJ Insiders chat on April 27. Donate as little as $1 today to become an insider, access the event and get other perks.
SUPERYACHT SPOTTED
U.S. authorities are moving to seize one of the world’s largest superyachts believed to be owned by “Russian Gatsby” Suleiman Kerimov, an oligarch linked to massive secret money transfers in an ICIJ investigation last week.
ERICSSON FALLOUT
The telecom giant confirmed that it will likely face new fines for failing to disclose corrupt practices unveiled by the Ericsson List investigation, as it continues negotiations with the U.S. Justice Department. .
WATCH: #IFJ22
You can see ICIJ team members’ presentations at the International Journalism Festival in Perugia, Italy. Watch their sessions on How ICIJ made the Pandora Papers a reality; innovating journalism partnerships, and the state of data journalism.
AWARDS
The Pandora Papers won the White House Correspondents’ Association’s 2022 Katharine Graham Award for Courage and Accountability. Judges said, “The project underscored the strength of collaborative reporting and overcoming technological obstacles to produce powerful journalism.”
Pandora Papers is also a finalist for the 2022 Deadline Club awards for business investigative reporting and the Daniel Pearl Prize for investigative reporting. And there’s still time to vote for the Washington Post’s Pandora Papers podcast, “A tax haven in America’s heartland,” to win a 2022 Webby Award. Polls are open until Thursday April 21.
Thanks for reading!
Asraa Mustufa
ICIJ's digital editor
P.S. If you've enjoyed our coverage this week, remember to tell your friends and family and share our work on social media. Send them an email now!
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