The Trump administration on Wednesday disavowed its decision to include a Moscow-born American businessman on a public list of Russian “oligarchs,” resolving a months-long court fight in which the U.S. Treasury Department was accused of copying a roster of Russian billionaires that Forbes Magazine published in 2017.
The businessman, Dr. Valentin Gapontsev, represented by Norton Rose Fulbright, sued the Treasury Department last year in Washington’s federal trial court after being included on a list of purported cronies of Russian President Vladimir Putin. The Treasury Department had been required to compile the list under the Countering America’s Adversaries Through Sanctions Act, a sanctions law against Russia, Iran and North Korea that President Donald Trump signed in August 2017 but said was “seriously flawed.”
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