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U.S. Treasury: Russian oligarch list not meant to punish IPG CEO Gapontsev

In a 55-page document, the U.S. Department of the Treasury said IPG Photonics and CEO Valentin Gapontsev’s lawsuit to remove the wealthy physicist from a list of Russian oligarchs lacks merit. 
The Treasury, however, did not dispute Gapontsev’s dual U.S. and Russia citizenship, his home in Worcester, his source of wealth or challenge him on his alleged distance from Russia and President Vladimir Putin.

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