Transatlantic Take
Europe and the United States Have Enabled Kleptocracy. Now They Have to Get Serious About Fighting It.
March 9, 2021
Last week, the United States sanctioned Ihor Kolomoisky, one of Ukraine’s most notorious oligarchs, whom the authorities are investigating for money laundering in the country. While this testifies to the fact that the Biden administration is becoming serious about combatting international corruption, it is also indicative of how the United States and European countries remain key enablers of kleptocratic financial flows through their lax tax systems and often weak regulatory frameworks. The time has come for them to recognize the role they play in enabling kleptocracy at home and to use the current momentum to forge a transatlantic anti-kleptocracy approach that confronts authoritarians abroad.