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Former Russian Executive Indicted In U.S. On Tax-Dodge Charges

A former executive of a large Russian steel company has been indicted by a federal grand jury in Missouri on charges that he hid millions of dollars offshore from U.S. tax authorities, the Justice Department says.

Viktor Lipukhin, a Russian citizen and formerly an Illinois resident, was indicted on March 20 for hiding between $4 million and $7.5 million in bank accounts at UBS AG from 2002 through 2007, the Justice Department said in a statement on March 21.

The indictment's announcement came amid growing tensions between the United States and Russia over the Ukraine crisis.

President Barack Obama unveiled sanctions against members of Russian President Vladimir Putin's inner circle on March 20.

Lipukhin was president of Severstal Inc USA, a subsidiary of AO Severstal, a large steel company in Russia.

Based on reporting by Reuters and AP

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