Sanctions on Russian oligarchs would “impose massive costs on Putin’s closest confidants,” Treasury Secretary Janet Yellen said. In reality, the impact is far milder.
On March 3, the day the U.S. Treasury Department sanctioned Russian oligarch, a cargo ship arrived in Mobile, Ala.
, carrying 53,000 tons of pig iron destined for a Mississippi steel plant. It came from a subsidiary of the company that accounts for much of Mr. Usmanov’s wealth, shipping records show. Another subsidiary owns the shipping firm that delivered it.
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