Ukraine creates database of art linked to sanctions-hit Russians

Artworks can be relatively easily sold across national borders without alerting the authorities, with the subjective nature of the value allowing prices to be easily inflated or deflated.

I have, for a long time, wondered what portion of the high-end art market consists of money laundering. Those are exactly the properties one would want for a money laundering vehicle.

The NACP said Russian oligarchs were still all too easily able to “hide and launder their money through art objects” despite the sanctions imposed on them.

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Artworks can be relatively easily sold across national borders without alerting the authorities, with the subjective nature of the value allowing prices to be easily inflated or deflated.
I have, for a long time, wondered what portion of the high-end art market consists of money laundering. Those are exactly the properties one would want for a money laundering vehicle.
The NACP said Russian oligarchs were still all too easily able to “hide and launder their money through art objects” despite the sanctions imposed on them.