Over $2 billion worth of yachts belonging to Russian oligarchs have been seized in Europe so far

Huileng Tan

05 April 2022 06:03 AM

Alisher Usmanov's super-yacht, "Dilbar."

At least 13 luxury boats have been seized in Europe since Putin launched a war on Ukraine.
More than $2 billion worth of mega yachts linked to Russian billionaires have been seized in Europe since Russian President Vladimir Putin launched a war on Ukraine in late February, Bloomberg reported.
At least 13 yachts valued between $8 million and $606 million have been seized or impounded in the EU and UK as officials continue to sanction Russia's elite, according to the outlet.

The US, alongside the UK and EU, imposed economic sanctions on Russian oligarchs many of whom moved their mega yachts to regions where they cannot be seized, including the Maldives.

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It can be tricky to pin down the owners of the yachts, but enough "public speculation" suggesting a Russian oligarch is the owner is typically "sufficient for a seizure," Insider's Joseph Zeballos-Roig and Hillary Hoffower reported.

Spain is reportedly holding four of these yachts, including the $8 million Lady Anastasia linked to Alexander Mikheev, the $95 million Valerie linked to Sergei Chemezov, the $95 million vessel Tango linked to Viktor Vekselberg, and the $468 million yacht Crescent linked to Igor Sechin.

France holds three more vessels, including another yacht worth $125 million also linked to Sechin called the Amore Vero. The country is also holding two yachts linked to Alexey Kuzmichev the $22 million Little Bear and the $77 million Big Bear.

Italy is reportedly holding the $34 million Lady M, which is linked to Alexei Mordashov; the $575 million Sailing Yacht A, which is linked to Andrey Melnichenko; and the $38 million Lena, which is linked to Gennady Timchenko.

Germany holds the largest ship, the Dilbar, which is linked to Alisher Usmanov and valued at $606 million.Gibraltar, a British territory, is holding the $68 million Axioma, which is linked to Dmitry Pumpyansky, while England has taken control of the $38 million Phi, linked to Vitaly Kochetkov.

Huileng Tan