Why Tracking Putin’s Wealth Is So Difficult

New York Times: “But the British court document also holds a clue to why it has been so hard to clearly connect the Russian president to his rumored riches. The yacht, called the Olympia, was managed by a company in Cyprus, where corporation filings show that the true owner was not Mr. Putin — it was the Russian government.”

“Indeed, it is one of many extravagant assets long speculated to be Mr. Putin’s that actually are owned or controlled by the state, showing how much the private interests of the president and his inner circle have merged with those of the government he has dominated for two decades. Others include a sprawling resort, a fleet of expensive automobiles, fancy planes and still more yachts.”