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Russian oligarchs’ yachts seized in Europe, others harbouring in Maldives -Breaking

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© Reuters. The 115 metre superyacht Luna lies in the Blohm & Voss dock in the harbour in Hamburg, Germany, March 3, 2022. REUTERS/Fabian Bimmer

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Tassilo Humel and Alasdair Pala

PARIS (Reuters). France and Germany have seized superyachts belonging to Russian oligarchs. According to Forbes magazine and French authorities, the move was a blow for Russia’s superrich due in part, to sanctions imposed by Moscow following its invasion of Ukraine.

According to ship tracking data, at least five superyachts belonging to Russian billionaires were also anchored in or cruising off the Maldives. This is an Indian Ocean island country.

After Russia was sanctioned by the West, the yachts reached the Maldives. Washington, Washington and the European Union have stated that they are going to target Russian President Vladmir Putin’s oligarchs.

After French customs seize the 88-metre Amore Vero (True Love) on Thursday, Bruno Le Maire, Finance Minister, said that “Thanks to French customs officers”

He said that the yacht was about to sail away.

According to the finance ministry, it was placed in La Ciotat on the French Riviera and is the property of Igor Sechin Rosneft chief Rosneft. Sechin is close to Putin.

Forbes reported that in Germany, the luxury yacht belonging to Russian billionaire Alisher Usmanov had been seized at Hamburg’s northern port. It was worth almost $600 million.

Roman Abramovich, a billionaire Russian oligarch who is feeling the heat of sanctions’ heat, announced Wednesday that he will sell Chelsea Football Club. He also promised money to aid victims of war in Ukraine.

TRACKING ASSETS

Two sources claim that the United States has begun to prepare a sanctions package against more Russian oligarchs and their assets. This comes after Joe Biden, the U.S. president, said that the United States will work with wealthy Russians to seize yachts, private jets and luxury apartments.

A senior EU official announced that Britain, Canada, the United States and the United States are working together to find out how the oligarchs might bypass the sanctions. Also, they want to determine the impact of trust companies on holding assets.

According to the official, this task force will try and close any loopholes that become obvious.

Widely felt was the impact of sanctions.

“There is a significant chilling effect on any new business with Russia,” said Matt Townsend, a sanctions partner at law firm Allen & Overy.

People are worried about credit risk exposure, but they are also concerned about the future. Everybody’s attention is on the next wave significant sanctions.”

DO YOU WANT TO FLY?

La Ciotat’s Amore Vero was seized on Jan. 3, and it had to remain until April 1, according to the French finance minister.

Customs officials noted Wednesday that the yacht was taking steps to sail away urgently without any repairs being completed.

The officers took it into their possession as it was now subject to new sanctions.

Rosneft was a Russian oil and gas giant that did not respond when asked for comments about the seizure.

According to Imperial Yachts, a Monaco-based company that is based in Monaco, the yacht belonged to Kazimo. Kazimo had hired Imperial Yachts as its managers for the vessel in 2018.

A representative from Imperial Yachts said to Reuters that Sechin was “not connected” with the person they had named. French finance minister did not respond to a request for comment immediately.

Spanish company MB92 owns Ciotat’s shipyard and said it was working with French authorities.

Forbes reported that the yacht Dilbar, measuring 512 feet (156 m) in length, was undergoing a refit at the Blohm + Voiss shipyards.

Forbes reported that the German government had placed the ship in a safe place and the employees who worked on it were not available for work Wednesday.

Representative of Usmanov stated that he did not have confirmation about the reported seizure of the yacht. The General Customs office in Germany said that details about operational measures could not be published.

Blohm + Voss spokesperson refused to discuss the Dilbar and said only that all orders of the Luerssen Group’s owners and its subsidiaries had been treated according to the law.

MALDIVES ARE NOT AVAILABLE?

Five superyachts belonging to Russian billionaires were seen in temporary refuge in Maldives.

Oleg Deripaska founded Rusal Aluminium, and Clio is his superyacht. According to MarineTraffic shipping database, Clio was anchor off of the capital Male Wednesday.

Alexander Abramov was co-founder and owner of Russian steel producer Evraz’s Titan. He arrived Monday.

The data revealed that three more yachts belonging to Russian oligarchs could be seen in Maldives on Wednesday. The 88-meter (288-foot-long) Nirvana was owned by Vladimir Potanin (Russia’s richest man).

The vessels had been last seen anchoring in Middle Eastern ports. The Maldives government spokesperson did not respond when we asked for comments.

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