Welcome to Little Moscow. It is home to many Russian elites. It is located on a small strip of land near Miami known as Sunny Isles Beach. Lana Bell, a real-estate agent, recently told the News Nation correspondent that her wealthy Russian clientele like to spend their money and enjoy their life. Russian money has brought a real-estate boom to the region over the years, but now these power players are afraid they might not be able to enjoy the Miami sunshine much longer. Bell said it hasn't been a problem so far because they are worried the Russia-Ukraine conflict will blacklist them from buying American real estate. Biden has said that the US will seize luxury apartments from Russians with wealth parked in the country, and that existing sanctions from past political events slowed their buying efforts in recent years. Some of the residents of Little Moscow are wealthy, but not all of them support the war. The rise of Little Moscow and the lives of the Russians who made it happen are shown. The city was once a linear tableau of South Florida kitsch, a seaside strip of themed motels, and an homage to ancient Egypt, Rome, the wild west, and American Indians. When the city was called North Miami Beach, a strip of 30 motels along the beach was built in the 1950s and 1960s. The roll of tourism slowed in the 1970s and resumed in the 1990s when most of the motels were replaced with luxury hotels. The Washington Post reported that Trump licensed the use of his name in the buildings. Real-estate agents told the Post in 2016 that Trump's name carries a lot of weight among the European, South American, and Asian elite. When Russians arrive in the US, the first thing they ask is where the Trump building is, according to a real-estate developer who has worked with Russian investors. Russian speakers bought about one-third of the 500 units the salesperson sold, he said at the time. An investigation by the news agency found that at least 63 members of Russia's elite spent nearly $100 million buying property in Trump buildings in the region. Some of the buyers were politically connected businessmen, and none seemed to be part of Putin's inner circle. Bell, the real-estate agent, told The Daily Beast that Russian men make money at home and visit their Miami property just for a few months in winter. Some of these rich daddies are in their fifties or older, while their women are in their twenties; the beach is packed with really young pregnant Russian girls, girls with babies. The Miami Herald found in 2016 that at least 13 personal or company buyers in the Trump Towers were investigated by the government, including a Russian-American organized-crime group and a Mexican banker accused of robbing investors. It found that most of the units are owned by shell companies, which hold assets like real estate and can be involved in money-laundering. The Herald's Michael Wilner was recently told by experts that Russians spend years snapping up properties along Florida's southeastern coast. They estimated that Russia's elite had more than $1 trillion in offshore accounts, which they said was held in South Florida property. Julia Friedlander, director of the Atlantic Council's Economic Statecraft Initiative, told the publication that they know what is happening based on patterns of behavior and observations from various sources. They are known as places where real estate will retain its value. Wilner reported that the area has seen investments by overseas buyers. According to Ari Odzer of NBC Miami, there are refugees from the old Soviet Union and Russians on tourist visas at the beach. He said that it is also known as Little Kyiv, Little Odessa, and Little Minsk. Locals told Odzer that the Russia-Ukraine conflict is dividing residents, with some supporting Putin and others who are too afraid to speak up. The fear of Putin is a real phenomenon, since he could barely get any Russians to speak on the record about their president. Many Russians were forced to sell or rent their Sunny Isles Beach condominiums because of the heightened US sanctions and the ban on Russian law-enforcement officials from traveling abroad. Bell, the Russian real-estate agent, said that Russians could be easily recognized by their cars. It is becoming problematic for the Russian elite to take their money out of the country because the rules demand full disclosure, the name of the buyer and the source of money. The deputy head of Transparency International said that Little Moscow still held the attention of Russian corrupt bureaucrats. Those who could still travel came during the winter to conduct deals at restaurants in the Bal Harbor mall before returning home to conduct business again. Russian purchases have dwindled in the past few years, but could change with new developments like the St. Russia's elite and their families were targeted by President Joe Biden last week, as well as the Kremlin's ability to access Western financial institutions. A National Security Council official told Wilner that they are extending the reach of US sanctions to prevent the elites close to Putin from using their kids to hide assets. Experts told Wilner that the sanctions currently in place were unlikely to have a strong effect in South Florida. The author of "Russia's Crony Capitalism: The Path From Market Economy to Kleptocracy" doesn't think this will affect the Russian rich in the greater Miami region. He told Wilner that the Miami Russians were not powerful enough to feel the sanction burn. He said that these are comfortable people, not the top people. Keep reading.
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