Gracetown Inc., a New York-based property manager, has filed suit against the U.S. Treasury’s Office of Foreign Assets Control (OFAC), contesting a $7.6 million civil penalty for alleged violations of U.S. sanctions on Russian oligarch Oleg Deripaska.
Filed in the Southern District of New York, the case may test limits of OFAC’s enforcement authority under the Administrative Procedure Act (APA) and the Eighth Amendment.
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