A funding shortfall in the latest Ukraine aid package could affect the Internal Revenue Service criminal investigations unit that tracks the luxury yachts, apartments and other hidden assets of Russia's elite, raising the possibility that the US enforcement of sanctions might have some gaps or pull resources from other priorities.
The Biden administration's efforts to secure emergency funding for the Treasury Department's sanctions efforts were met in full -- except for one. Republicans balked at the request to infuse the IRS investigations unit with $30 million, according to people involved in the negotiations. The objection was tied to concern over the agency, which sits under the Treasury umbrella, diverting focus from its core mission.
" "How seriously are we really taking the sanctions problem if you're not properly funding the one agency that can really provide the muscle and horsepower and the experience in financial crimes and following complex money flows?" Don Fort, a former chief of the IRS criminal investigations unit who worked for the agency for nearly 30 years, told CNN.
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