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Will Russian investors in Miami real estate feel the new sanctions?

An aerial view of Sunny Isles Beach. Tall residential towers stand in front of a strip of white sand and blue-green water. The sky is blue with a few wispy clouds.
Matias J. Ocner
Miami Herald
An aerial view of Sunny Isles Beach, a home away from home for many Russians with money.

Experts said the sanctions in place thus far will likely have little impact on South Florida.

South Florida’s coastal strip of Sunny Isles Beach and exclusive enclave of Fisher Island are among the most monied addresses in the United States. They are also playgrounds for the Russian elite that have for years drawn the attention of financial crimes enforcers.

Residents have included Dmitry Rybolovlev, a billionaire who famously bought a mansion from Donald Trump in 2008 for $60 million more than its asking price just a few years earlier, and Alexander Yuzvik, who has overseen construction of Russian military and intelligence projects.

These are some of the elites that the White House might wish to target to ratchet up pressure on Russian President Vladimir Putin, whose invasion of Ukraine has prompted President Joe Biden to reach for sanctions that no president has deployed before against a major power.

Click here to read more from our news partners at the Miami Herald.

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