INSUBCONTINENT EXCLUSIVE:
trust connected to approved Russian senator and billionaire Suleiman Kerimov held a 1% stake in Elon Musks SpaceX before authorities blocked
the trust, Bloomberg reported Wednesday, mentioning anonymous sources knowledgeable about the matter.Delaware-based Heritage Trust
apparently got the SpaceX stake in 2017, a year before the Trump administrations Treasury Department approved Kerimov along with lots of
other Kremlin-linked oligarchs.Heritage Trust later on dealt with its SpaceX holding before the U.S
Treasury obstructed the trust in June 2022
The Biden administration argued that Kerimov had actually maintained an obscured interest in Heritage Trust and continued to purchase
unknown large public and private U.S
companies.Defense contractors with security clearance, such as SpaceX, are needed to report any foreign ownership, control or influence of
It was not immediately clear whether SpaceX understood that Heritage Trust or any associated entities held the stake.Bloomberg noted that
the case highlights the difficulties that tangled monetary networks present to U.S
attempts to maintain sanctions and the challenges carefully held companies such as SpaceX must face in order to identify the identity of
investors.According to the publication, Heritage Trusts administrative trustee, Citigroup, inquired with the Treasury Department about the
trust after the 2018 sanctions against Kerimov and other oligarchs
Citigroup ultimately figured out that the trust was not subject to blocking.The Justice Department, FBI and IRS are now supposedly examining
Citigroup over its handling of Heritage Trust.Kerimov is amongst Russias wealthiest people, with a net worth of $9.84 billion and a seat in
the countrys upper-house Federation Council
His trusts 1% stake in SpaceX would be valued at $3.5 billion today.A Message from The Moscow Times: Dear readers, We are facing
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