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France seizes its first yacht as the West pledges to crack down on Russian oligarchs

Rachel Treisman

Amore Vero, the yacht owned by a company linked to Igor Sechin, is pictured in the shipyard of La Ciotat in southern France on Thursday. Nicolas Tucat/AFP via Getty Images hide caption

Amore Vero, the yacht owned by a company linked to Igor Sechin, is pictured in the shipyard of La Ciotat in southern France on Thursday.

French authorities say they have seized a yacht linked to sanctioned Russian oligarch Igor Sechin.

Sechin served as Russia's deputy prime minister from 2008 to 2012 and is the current CEO of state oil company Rosneft.

Ukraine invasion — explained

The u.s. keeps turning to sanctions despite their mixed record.

He is among the several "elites close to [Russian President Vladimir] Putin" that the U.S. Treasury Department targeted with sanctions last week. The European Union imposed sanctions against Sechin on Monday, calling him one of Putin's "most trusted and closest advisors, as well as his personal friend" and saying the two were in daily contact.

French finance minister Bruno Le Maire announced on Thursday that French authorities had seized Sechin's yacht — named "Amor Vero," or "True Love" in Italian — at the Mediterranean port of La Ciotat on Wednesday.

"Thanks to the French customs officers who are enforcing the European Union's sanctions against those close to the Russian government," he said, according to a Reuters translation of his tweet.

How everyday Russians are feeling the impact from sanctions

The 280-foot yacht had been docked in southern France's La Ciotat since early January, and was set to remain there undergoing repairs through the end of March, CNBC reports . But the French ministry of finance said the yacht was preparing to cast off when authorities began their check, which lasted several hours.

The ministry said it had identified Sechin as the main shareholder of the company that owns the yacht, according to The Guardian .

"As part of the implementation of European Union sanctions against Russia and in support of Ukraine, we seized a first yacht," French Minister at the Ministry of Public Action and Accounts Olivier Dussopt wrote in a tweet on Thursday translated by France24 .

Dans le cadre de la mise en œuvre des sanctions de l'Union européenne à l'encontre de la Russie et en soutien à l’Ukraine 🇺🇦 nous avons procédé à la saisie d’un premier yacht. ➡️ L’Amore Vero est immobilisé en France. pic.twitter.com/ncr4UOP3OD — Olivier Dussopt (@olivierdussopt) March 3, 2022

The U.S. sanctioned more oligarchs on Thursday

The U.S. announced a fresh round of sanctions against Russian oligarchs later Thursday.

It enacted "full blocking sanctions" on eight oligarchs and their families and imposed visa restrictions on 19 others as well as 47 of their family members and close associates.

"These individuals have enriched themselves at the expense of the Russian people, and some have elevated their family members into high-ranking positions," the White House said in a statement. "Others sit atop Russia's largest companies and are responsible for providing the resources necessary to support Putin's invasion of Ukraine."

It said those targeted by the sanctions will be cut off from the U.S. financial system, with their assets in the U.S. frozen and their property blocked from use. The individuals named include Putin's spokesperson, Dmitry Peskov, and billionaire Alisher Usmanov.

Superyachts headed for safe harbor after U.S. and Europe announced sanctions

Citing data from shipping database Marine Traffic, CNBC has reported that at least four Russian billionaires began moving their superyachts toward Montenegro and the Maldives — which doesn't have an extradition treaty with the U.S. — after the U.S. and other Western countries announced a raft of sanctions against Russian oligarchs and financial institutions.

President Biden has repeatedly pledged to pursue the crimes of Russian oligarchs, including in his State of the Union address on Tuesday.

The Dutch vow to egg Jeff Bezos' yacht if a bridge is dismantled to let his boat pass

"We're joining with European allies to find and seize their yachts, their luxury apartments, their private jets," he said. "We are coming for your ill-begotten gains."

The following day, the U.S. Department of Justice announced "Task Force KleptoCapture," which it says will enforce sanctions and other financial measures imposed on Russia following its invasion of Ukraine, seize the assets of people who violate them and leave no stone unturned in investigating criminal acts that support Russia's aggression.

German authorities deny reports that they seized an oligarch's yacht

France's announcement comes a day after Forbes reported — citing three yacht industry sources — that German authorities in the port city of Hamburg had seized Usmanov's superyacht.

The status of the yacht is unclear.

Hamburg officials have since denied the report, with a spokesperson for its economic authority telling The Guardian that "no yachts have been confiscated." Any order to seize properties subject to sanctions would have to come from higher federal customs authorities, they added.

The U.S. sanctions Russian President Vladimir Putin

But when the White House announced sanctions against Usmanov and other oligarchs on Thursday, it said the superyacht — which it called "one of the world's largest" had been seized by Germany. Officials said property like his yacht and private jet will be blocked from use in the U.S.

The yacht in question, named "Dilbar," measures 512 feet long and is valued at $600 million, both outlets report. It can accommodate as many as 24 guests in a dozen suites, as well as up to 96 crew members, according to luxury yacht comparison site YachtCharterFleet .

Putin's alleged yacht is believed to be out of reach

Satellite imagery obtained by CBS News shows the superyacht believed to be owned by Putin docked in Kaliningrad, a "highly militarized port in Russian territorial waters" and out of reach of U.S. sanctions.

Marine Traffic data suggests "the Graceful," Putin's alleged yacht, left Germany two weeks before Russia invaded Ukraine.

On Tuesday, the "hacktivist" group Anonymous took credit for changing the yacht's call sign to "FKPTN" and its destination to "hell."

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France seizes yacht linked to Russian oligarch at Mediterranean port

Vessel linked to Igor Sechin taken as Hamburg authorities deny confiscation of Alisher Usmanov’s $600m superyacht

• Russia-Ukraine crisis: live news

France’s finance minister has announced the country has seized a yacht linked to Rosneft boss, Igor Sechin, in the Mediterranean port of La Ciotat, as German local authorities denied reports they had also seized the $600m superyacht belonging to Russian billionaire Alisher Usmanov .

French finance minister, Bruno Le Maire, said it had seized a yacht linked to Rosneft boss Igor Sechin in the Mediterranean port of La Ciotat.

The finance ministry said the yacht was owned by an entity of which Sechin had been identified as the main shareholder.

The announcement came as authorities in Hamburg denied reports that Usmanov’s yacht had been seized in a shipyard in the German port city.

“No yachts have been confiscated,” a spokesperson for Hamburg’s economic authority said. “A handover [of the yacht to its owner] is also currently not planned. No yacht is going to leave the port that is not allowed to do so.”

The Hamburg local authority said any order to seize properties subject to sanctions would have to come from higher federal customs authorities.

A Forbes report citing three sources in the yacht industry had reported on Usmanov’s 156-metre (512-foot) yacht Dilbar, valued at $600m and regarded as the largest motor yacht in the world by gross tonnage, was seized by German authorities on Wednesday.

Usmanov was on a list of billionaires to face sanctions from the European Union in response to Russia’s 24 February invasion of Ukraine .

Usmanov’s 156-metre (512-foot) yacht Dilbar, valued at $600m and regarded as the largest motor yacht in the world by gross tonnage, was seized by German authorities on Wednesday, according to a Forbes report based on three sources in the yacht industry.

The Guardian understands that repair works on the Dilbar yet have currently been put on hold, and that the ship is not in a seaworthy state.

The yacht has been in the yards of shipbuilding firm Blohm+Voss since late October. A spokesperson declined to give a statement but said that all projects by shipbuilder Lürssen would be treated “in accordance with the law”.

Forbes reported that representatives for Usmanov did not immediately respond to a request for comment.

Ukraine’s adviser to the minister of internal affairs, Anton Geraschenko, responded to the report on Telegram by saying the yacht should be sent to Ukraine and refitted as a missile cruiser.

Usmanov bought Dilbar in 2016 for a reported cost of $600m from German shipbuilder Lürssen, which custom-built it for him over 52 months.

The firm describes it as “one of the most complex and challenging yachts ever built, in terms of both dimensions and technology”.

At the time of its launch, Lürssen CEO, Peter Lürssen, said : “Dilbar has the most advanced security technologies of any superyacht in the world. But the things you read about it containing an anti-aircraft missile defence system are all nonsense.”

At 15,917 tonnes, it’s the world’s largest motor yacht by gross tonnage, and is typically staffed by a crew of 96 people, with space for 24 passengers in 12 suites. It has the largest pool ever installed on a yacht as well as two helicopter pads, a sauna, a beauty salon and a gym.

At least five other superyachts owned by Russian billionaires are now anchored or cruising in Maldives, an Indian Ocean island nation that does not have an extradition treaty with the US, ship tracking data showed.

The vessels’ arrival in the archipelago off the coast of Sri Lanka follows the imposition of severe western sanctions on Russia.

The Clio superyacht, owned by Oleg Deripaska, the founder of aluminium giant Rusal, who was sanctioned by the US in 2018, was anchored off the capital Male on Wednesday, according to shipping database MarineTraffic.

The Titan, owned by Alexander Abramov, a cofounder of steel producer Evraz, arrived on 28 February.

Three more yachts owned by Russian billionaires were seen cruising in Maldives waters on Wednesday, the data showed. They include the 88-metre (288 ft) Nirvana owned by Russia’s richest man, Vladimir Potanin . Most vessels were last seen anchored in Middle Eastern ports earlier in the year.

A spokesperson for Maldives’ government did not respond to a request for comment.

The US has said it will take strict action to seize property of sanctioned Russians.

“This coming week, we will launch a multilateral transatlantic taskforce to identify, hunt down, and freeze the assets of sanctioned Russian companies and oligarchs: their yachts, their mansions, and any other ill-gotten gains that we can find and freeze under the law,” the White House said in a tweet on Sunday.

Washington imposed sanctions on Deripaska and other influential Russians in 2018 because of their ties to president Vladimir Putin after alleged Russian interference in the 2016 US election, which Moscow denies.

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Spain seizes another Russian yacht believed to belong to an oligarch.

The ship was impounded in the Spanish port of Tarragona pending an inspection to establish its exact ownership, Spain’s transport ministry said.

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By Raphael Minder and Michael Forsythe

• March 16, 2022

MADRID — Spain, which has pledged to seize the suspected superyachts of Russian oligarchs targeted for sanctions imposed following Russia’s invasion of Ukraine, on Wednesday impounded the third such vessel, one of the world’s biggest superyachts, in Spanish territorial waters this week.

The ship was impounded in the Spanish port of Tarragona, pending an inspection to establish its exact ownership, Spain’s transport ministry said in a statement. The ship, called the Crescent, was registered in the Cayman Islands.

The Spanish authorities have taken similar measures against two other yachts, the Valerie, which was in a maintenance yard in Barcelona, and Lady Anastasia, a yacht that was moored in Port Adriano, on the Spanish island of Majorca.

Spain’s hunt for Russian-owned superyachts comes after Prime Minister Pedro Sánchez announced the seizure of the Valerie on Monday and warned that “there will be more.”

The transport ministry said on Wednesday that if the inspections confirmed that the yachts belonged to people on the sanctions list drawn up by the European Union, they would remain fully immobilized.

The Valerie is suspected of being indirectly owned by Sergei Chemezov, the head of Rostec, a Russian industrial conglomerate that also makes military technology and equipment. The vessel was one of four Russian-owned superyachts that had recently been undergoing work at MB92, a shipyard that has helped establish Barcelona as one of the main hubs for the extravagant yachts owned by the super wealthy.

The Crescent, valued by the SuperYachtFan website at $600 million, appears to be the sister ship of the slightly larger, slightly more expensive Scheherazade, a 459-foot superyacht that U.S. officials said could be associated with President Vladimir V. Putin of Russia.

Both were built at the same German shipyard, Lurssen, where the Crescent was given the project name “ Thunder ,” while the Scheherazade, put into service about two years later, was called “Lightning.” Both share the same interior and exterior designers and have been managed by a Monaco company, Imperial Yachts, which caters to Russian oligarchs.

The two yachts also share another, unusual characteristic: Photos of the Crescent taken on March 13 by a former Central Intelligence Agency officer, Alex Finley, in the Spanish port where it was impounded appear to show that the Crescent conceals its nameplate while in port, just like the Scheherazade .

Track information on the Crescent from MarineTraffic , a maritime data provider, shows that Crescent spends most of its time in the Mediterranean, cruising between Spain, Italy, France and Montenegro, a popular destination for the yachts of Russian oligarchs. The 445-foot long Crescent, one of the 20 largest superyachts , has been at the Tarragona marina since early November.

Last week Italian police said they were investigating the ownership of the Scheherazade, which is in dry dock at a port on the Tuscany coast.

The Lady Anastasia, which was impounded on the island of Mallorca, is believed to be owned by Alexander Mikheev, a Russian arms dealer. In late February, the police on Majorca detained a Ukrainian member of the yacht’s crew because he had been planning to sink the vessel, in retaliation for the Russian invasion of Ukraine. He was released on bail, pending an investigation.

In early March, the French authorities seized a yacht in a yard in La Ciotat, which they said was linked to Igor Sechin, the chief executive of the state oil company Rosneft and a former deputy prime minister of Russia. The French yard is owned by MB92, the Spanish company that owns the yard in Barcelona.

MB92 said at the time that it was cooperating with the French authorities and would respond in due course to any possible further sanctions against Russians. “We are continuously monitoring the decisions taken by the Spanish authorities, the European Union and the U.S. as they come into effect,” the company said.

Raphael Minder  covers Spain and Portugal, based in Madrid. He previously worked for Bloomberg News in Switzerland and for the Financial Times in Paris, Brussels, Sydney and finally Hong Kong. More about Raphael Minder

Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

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86m Amore Vero seized in France under EU sanctions against Russia

Related articles, superyacht directory.

The French authorities have seized the 86 metre Oceanco superyacht Amore Vero in La Ciotat in the South of France under new sanctions issued by the European Union against Russia.

The yacht was seized by customs in the French port on March 2 after it was found in breach of the law by attempting to leave.

In a statement, the French Ministry of Economy and Finance linked the yacht to Igor Sechin, who was added to a list of sanctioned individuals by the European Union on February 28. The sanction document said Sechin was one of Vladimir Putin's "most trusted and closest advisors" and "one of the most powerful members of the Russian political elite."

Dans le cadre de la mise en œuvre des sanctions de l'Union européenne à l'encontre de la Russie et en soutien à l’Ukraine 🇺🇦 nous avons procédé à la saisie d’un premier yacht. ➡️ L’Amore Vero est immobilisé en France. pic.twitter.com/ncr4UOP3OD — Olivier Dussopt (@olivierdussopt) March 3, 2022

The statement said: "This attempt to leave French territorial waters constituted an offence on the basis of article 459 of the customs code, aimed at 'any person' contravening 'the measures restricting economic relations and financial resources provided for by community regulations'."

"This yacht fell within the scope of the freezing measures decided against its owner. Immediately applicable, these measures required the immobilisation of the vessel."

Amore Vero arrived in La Ciotat on January 2 where repairs were due to be carried out over three months. "The ship was making arrangements to sail urgently without having completed the planned work," the statement read.

The vessel was stopped and boarded by authorities who spent "several hours" on board.

Bruno Le Maire, minister of economy, finance and relations and Olivier Dussopt, minister of public action and accounts, said: "We thank the customs for this seizure reviewed in the context of the implementation of the sanctions of the European Union against Russia."

Amore Vero was built by Dutch shipyard Oceanco and delivered to its owner in 2013 under the name St. Princess Olga . 

Meanwhile, German authorities have denied reports that 156 metre Lurssen motor yacht Dilbar has been seized. Recent press reports said the yacht had been seized in the port of Hamburg, but a spokesperson for the city's economic authority said: "No yachts have been confiscated."

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Here are the superyachts seized from Russian oligarchs

As part of an international pressure campaign on Russia, authorities from around the world have seized more than a half-dozen superyachts belonging to billionaire oligarchs allied with Russian President Vladimir Putin.

The yacht seizures since the Feb. 24 invasion are "just the beginning," White House press secretary Jen Psaki told reporters in March, as an international task force worked to identify further assets that can be seized or frozen.

“The Justice Department will be relentless in our efforts to hold accountable those who facilitate the death and destruction we are witnessing in Ukraine,” U.S. Attorney General Merrick Garland said of the ongoing efforts in May.

Here are the superyachts government officials have seized since Russia invaded Ukraine last month.

The Justice Department announced May 5 that the Fijian government had seized billionaire oligarch Suleiman Kerimov 's 348-foot yacht Amadea. The vessel, which is valued at more than $300 million , arrived in Fiji last month. Kerimov, who's worth an estimated $14 billion and has ties to the Russian government, was sanctioned by the U.S. Treasury Department over alleged money laundering in 2018.

Special features on the sprawling yacht include a helipad, infinity pool, a jacuzzi and multiple bars, according to a report in Boat International . It can accommodate 16 overnight guests in addition to 36 crew members, the report said.

In April, Spanish law-enforcement officials seized a 255-foot yacht called the Tango, which Justice Department says is owned by oligarch Viktor Vekselberg. Vekselberg is an aluminum magnate who the Treasury Department says has close ties to Russian President Vladimir Putin.

The Tango is worth an estimated $90 million, prosecutors said , and Vekselberg allegedly purchased it through shell companies. The 11-year-old yacht has seven staterooms and reportedly includes amenities such as a pool, gym and beauty salon .

Authorities in Italy seized a 215-foot superyacht called the Lady M this month. It's owned by Alexei Mordashov, Russia's richest businessman, and it’s estimated to be worth $27 million . The vessel, which requires a crew of 14, has six guest cabins , a pool and a gym.

But it pales in comparison to another of Mordashov's yachts, the $500 million Nord . The 464-foot vessel, which has two helipads and a waterfall and can accommodate 36 guests, was anchored this month in the Seychelles, where the U.S. and European Union sanctions don’t apply.

Italian officials also seized the 132-foot superyacht Lena, owned by the energy magnate Gennady Timchenko. Estimated to be worth $8 million, it has five cabins and can accommodate 10 guests.

SY A — short for Sailing Yacht A — is one of the world's largest superyachts. Valued at over $440 million, the 469-foot vessel, owned by the fertilizer magnate Andrey Melnichenko, has eight decks, multiple elevators, an underwater observation area and the world's tallest masts . It was seized in the Italian port of Trieste.

Authorities in Spain seized Sergei Chemezov's Valerie, a 279-foot superyacht that had been moored in Barcelona. Chemezov , a former KGB officer, heads the state conglomerate Rostec. Spanish Prime Minister Pedro Sanchez touted the seizure on La Sexta television. “We are talking about a yacht that we estimate is worth $140 million,” Sanchez said.

Officials in France announced this month that they had seized the 289-foot Amore Vero, which was undergoing repairs in a shipyard near Marseille. When they arrived, authorities said, they found the crew preparing for an urgent departure, even though the repair work was scheduled to last through April. The $120 million boat, which has seven cabins , is linked to Igor Sechin, described by the U.S. Treasury Department as a close ally of Putin's.

Dareh Gregorian is a politics reporter for NBC News.

Thu 11 Apr 2024

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Superyacht seizures ramp up as Russian oligarchs send opulent boats to safe waters outside EU

Vessels speed to indian ocean - but others are being refitted in eu ports.

A superyacht owned by a Russian oligarch was seized by French authorities on Thursday as other owners sailed their multi-million pound vessels away from Europe to prevent them being impounded over the invasion of Ukraine.

The Amore Vero , which is worth $120m and is owned by Russian oil billionaire Igor Sechin, was moored at a shipyard in the French Riviera, a playground for the super-rich.

“French customs carried out the seizure of the yacht Amore Vero in La Ciotat as part of the implementation of sanctions by the European Union against Russia ,” the French finance ministry said in a statement.

Mr Sechin, a former deputy prime minister who is part of Russian president Vladimir Putin’s inner circle, is chief executive of Russian oil giant Rosneft.

On Thursday, Germany seized the Russian billionaire Alisher Usmanov’s 512-foot mega yacht Dilbar , which is valued at $600m, which was moored in Hamburg.

Mr Usmanov, a former part-owner of Arsenal Football Club, was placed on an EU sanctions list earlier this week.

More on Sanctions against Russia

However, five multi-million pound superyachts were anchored or cruising near the Maldives, an Indian Ocean island which has not extradition treaty with the United States, according to ship tracking data.

The Clio superyacht, owned by Oleg Deripaska, the founder of the aluminium giant Rusal, was anchored off the Maldives capital Male on Thursday, according to data from shipping database MarineTraffic seen by i .

The US imposed sanctions on Mr Deripaska and other wealthy Russians in 2018 over the alleged Russian interference in the 2016 US presidential election, which Moscow denies.

The Titan , owned by Alexander Abramov, a co-founder of steel producer Evraz, arrived in the Maldives on February 28.

The Nirvana , the 288ft yacht owned by Vladimir Potanin, Russia’s second richest man, who was valued at $87bn by Bloomberg Millionaire’s Index, was sailing off the west coast of India on Thursday.

Meanwhile, Roman Abramovich, the London-based Russian-Israeli billionaire who has announced he is selling Chelsea Football Club , faces the possibility of having his 139m yacht Solaris seized as undergoes a refit in Barcelona.

The 74-metre Aurora yacht, owned by Andrey Molchanov, who owns a controlling interest in LSR Group, Russia’s biggest building materials group, is also anchored in the same Spanish port.

In 2018, Mr Molchanov was named by the US government in a list of Russian oligarchs but was not sanctioned and has not been targeted in the current round. Neither Mr Abramovich nor Mr Potanin are currently subject to sanctions.

A Spanish Transport ministry spokeswoman said: “There is no news about any yachts at present. Spain has proposed to the EU that these superyachts should not be allowed to dock or refuel in any EU ports.”

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France seizes its first yacht as the West pledges to crack down on Russian oligarchs

• Rachel Treisman

French authorities say they have seized a yacht linked to sanctioned Russian oligarch Igor Sechin.

Sechin served as Russia's deputy prime minister from 2008 to 2012 and is the current CEO of state oil company Rosneft.

He is among the several "elites close to [Russian President Vladimir] Putin" that the U.S. Treasury Department targeted with sanctions last week. The European Union imposed sanctions against Sechin on Monday, calling him one of Putin's "most trusted and closest advisors, as well as his personal friend" and saying the two were in daily contact.

French finance minister Bruno Le Maire announced on Thursday that French authorities had seized Sechin's yacht — named "Amor Vero," or "True Love" in Italian — at the Mediterranean port of La Ciotat on Wednesday.

"Thanks to the French customs officers who are enforcing the European Union's sanctions against those close to the Russian government," he said, according to a Reuters translation of his tweet.

The 280-foot yacht had been docked in southern France's La Ciotat since early January, and was set to remain there undergoing repairs through the end of March, CNBC reports. But the French ministry of finance said the yacht was preparing to cast off when authorities began their check, which lasted several hours.

The ministry said it had identified Sechin as the main shareholder of the company that owns the yacht, according to The Guardian.

"As part of the implementation of European Union sanctions against Russia and in support of Ukraine, we seized a first yacht," French Minister at the Ministry of Public Action and Accounts Olivier Dussopt wrote in a tweet translated by France24.

Superyachts headed for safe harbor after U.S. and Europe announced sanctions

Citing data from shipping database Marine Traffic, CNBC has reported that at least four Russian billionaires began moving their superyachts toward Montenegro and the Maldives — which doesn't have an extradition treaty with the U.S. — after the U.S. and other Western countries announced a raft of sanctions against Russian oligarchs and financial institutions.

President Biden has repeatedly pledged to pursue the crimes of Russian oligarchs, including in his State of the Union address on Tuesday.

"We're joining with European allies to find and seize their yachts, their luxury apartments, their private jets," he said. "We are coming for your ill-begotten gains."

The following day, the U.S. Department of Justice announced "Task Force KleptoCapture," which it says will enforce sanctions and other financial measures imposed on Russia following its invasion of Ukraine, seize the assets of people who violate them and leave no stone unturned in investigating criminal acts that support Russia's aggression.

German authorities deny reports that they seized an oligarch's yacht

France's announcement comes a day after Forbes reported — citing three yacht industry sources — that German authorities in the port city of Hamburg had seized the superyacht of another sanctioned Russian billionaire, Alisher Usmanov.

Hamburg officials have since denied the report, with a spokesperson for its economic authority telling The Guardian that "no yachts have been confiscated." Any order to seize properties subject to sanctions would have to come from higher federal customs authorities, they added.

The yacht in question, named "Dilbar," measures 512 feet long and is valued at $600 million, both outlets report. It can accommodate as many as 24 guests in a dozen suites, as well as up to 96 crew members, according to luxury yacht comparison site YachtCharterFleet.

Putin's alleged yacht is believed to be out of reach

Satellite imagery obtained by CBS News shows the superyacht believed to be owned by Putin docked in Kaliningrad, a "highly militarized port in Russian territorial waters" and out of reach of U.S. sanctions.

Marine Traffic data suggests "the Graceful," Putin's alleged yacht, left Germany two weeks before Russia invaded Ukraine.

On Tuesday, the "hacktivist" group Anonymous took credit for changing the yacht's call sign to "FKPTN" and its destination to "hell." [Copyright 2022 NPR]

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Targeting super yachts owned by Russian oligarchs could hit a nerve in Moscow

Poor transparency around ownership of assets can cause challenges, experts say.

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With sanctions levied and financial assets seized, Russian oligarchs have been scrambling to get their super yachts out of Western ports in search of safer harbours. 

One yacht, said to belong to Russian President Vladimir Putin himself, abruptly left port in Hamburg, Germany, just weeks before the Russian invasion of Ukraine prompted wide-reaching sanctions. Others were not so quick to leave European ports. 

Authorities in La Ciotat, on France's Mediterranean coast, seized a yacht they say is linked to sanctioned Russian oligarch Igor Sechin, the CEO of state oil company Rosneft. He was Russia's deputy prime minister from 2008 to 2012.

• Canada slaps sanctions on Russian oligarch Roman Abramovich
• Analysis With Russia pressing on and Ukraine digging in, how will Putin's war actually end?

Industry watchers say oligarchs everywhere are trying to keep their yachts from being taken.

​​"There's a few yachts that we are watching at the moment in the Atlantic," said Sam Tucker, head of super yachts at the firm VesselsValue, which tracks and estimates the value of these giant luxury yachts. 

"I'm expecting some of them to start doing U-turns in the middle of the ocean," he told CBC Radio's Day 6 .

Western countries have imposed a punishing package of sanctions and export control restrictions on Russia in response to the invasion of Ukraine. Russia's biggest banks were hit, as was the country's central bank. Major state-owned companies and some of the country's wealthiest individuals have seen overseas assets frozen.

The investment bank JP Morgan Chase believes Russia's economy will shrink 35 per cent in the second quarter of 2022 and seven per cent for the entire year.

White House spokesperson Jen Psaki says the suite of sanctions is meant to make every aspect of life difficult on Putin and the oligarchs who protect him.

"What we're talking about here is seizing their assets, seizing their yachts and making it harder for them to send their children to go to colleges and universities in the West," Psaki said in a briefing this week. "These are significant steps that will impact the people who are closely around President Putin."

<a href="https://twitter.com/hashtag/Putin?src=hash&amp;ref_src=twsrc%5Etfw">#Putin</a>´s Yacht "The Gracefull" inbound Kaliningrad from Hamburg in anticipation of future sanctions due to the conflict in <a href="https://twitter.com/hashtag/Ukraine?src=hash&amp;ref_src=twsrc%5Etfw">#Ukraine</a>. <a href="https://t.co/qdhAUhCH1m">pic.twitter.com/qdhAUhCH1m</a> &mdash; @GDarkconrad

Symbolic target

The yachts themselves are worth hundreds of millions of dollars, but experts in Russian sanctions say this isn't just about the dollar value.

"They don't have much value compared to the total net worth of an oligarch," said Bill Browder, a long-time advocate for stiff sanctions against Russian oligarchs, in an email to CBC Radio. 

But they are "a highly symbolic attack on something coveted by the oligarchs."

These ultra-luxurious ships became a status symbol for the oligarchs as they amassed fortunes in the 1990s and early 2000s.

"There is a bit of oneupmanship," Tucker told Day 6 . He says the biggest and most expensive ships are cloaked in secrecy. They have extreme privacy and security features, including bulletproof glass, and some require crew to sign non-disclosure agreements.

But Tucker says the biggest security and privacy feature of all is the opaque ownership structure of the yachts. He says precious little information about who actually owns these ships is available.

"[Only] basic information is disclosed — for example, the registered owner — which is often a shell company or a 'special interest vehicle' registered in Monaco, Malta, [or the] Cayman Islands," he said.

Untying those knots is a notorious problem, but one usually confined to taxation issues.

"One thing that I think may come out of this whole situation is the increased call for transparency and transparent ownership," said Tucker.

Yachts on the move

So far, only four super yachts have been seized, including a 213-foot yacht owned by Alexei Mordashov in Imperia, Italy.

While authorities sift through the byzantine paper trail of ownership, other oligarchs have scrambled their crews to get the yachts to somewhere safe.

"One of the things I've been trying to figure out is, where do they go [next]?" asked Alex Finley, a former CIA officer living in Barcelona, in an interview with  As It Happens host Gillian Findlay .

This week, Finley tweeted photos tracking a ship said to be owned by Roman Abramovich, the Russian billionaire who owns the Chelsea Football Club.

• Anxious Russians flee by the hundreds each day into neighbouring Finland

"A lot of these yachts that we've been looking at are heading towards the Maldives or the Seychelles. A few are in Montenegro, but they look like they're probably going to be on the move," Finley said in the interview .

Here you can see the sterns of both Aurora and Valerie, and in the other pic, the empty slip where Solaris used to be (which is the size of the empty hole in my heart). 7/ <a href="https://t.co/Luvj5vyWXp">pic.twitter.com/Luvj5vyWXp</a> &mdash; @alexzfinley

Neither the Maldives nor the Seychelles signed onto the sanctions, so the ships are probably safe from seizure there. Another major hub is Dubai.

"I think we're going to see Dubai as a big hotspot for these yachts," said Tucker. "It has hot weather all year round and … Russians can fly to Dubai without going through the EU airspace."

Tucker agrees that targeting the yachts is a symbolic move.

"It's really sending the message that they aren't untouchable. We've closed the skies on both sides of the Atlantic so their private jets can't operate, and now we're going after their super yachts," he said.

"I'd be feeling quite vulnerable if I was an oligarch right now."

ABOUT THE AUTHOR

Senior Business reporter for CBC News. A former host of On the Money and World Report on CBC Radio, Peter Armstrong has been a foreign correspondent and parliamentary reporter for CBC. Subscribe to Peter's newsletter here: cbc.ca/mindyourbusiness Twitter: @armstrongcbc

Interview with Sam Tucker produced by Rachel Levy-Mclaughlin

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• U.K. imposes sanctions on Chelsea's Russian billionaire owner Roman Abramovich

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Russian Oligarch’s Yacht Seized in France

Rosneft Chief Executive Officer Igor Sechin’s superyacht was blocked by French customs officials on the Cote D’Azur, part of the European Union’s sanctions against wealthy Russians with close ties to President Vladimir Putin. This is video of the yacht in La Ciotat from the French Customs Service. (Source: Bloomberg)

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16 superyachts owned by Russian oligarchs

Western sanctions over moscow's invasion of ukraine led to many luxury vessels being detained in europe.

Two superyachts linked to Russian billionaire Roman Abramovich were spotted on the Turkish coast on Tuesday, 'Eclipse' and 'My Solaris'. Mr Abramovich is among several wealthy Russians added to an EU blacklist as governments act to seize their yachts and other luxury assets. AP

Live updates: follow the latest news on Russia-Ukraine

Several luxury yachts owned by wealthy Russians have been detained across Europe this month.

It comes after the West imposed sanctions on oligarchs over Moscow's invasion of Ukraine .

Some have taken evasive action – two such superyachts linked to billionaire Roman Abramovich were spotted approaching the Turkish coast on Tuesday. A group of Ukrainians tried to stop one of the yachts from docking in Turkey.

Chelsea FC owner Mr Abramovich is one of several oligarchs who were added to an EU blacklist last week as governments acted to seize yachts and other luxury assets owned by the billionaires.

Western sanctions resulted in many large vessels relocating from Europe in the past few weeks. Several have headed to places such as the Maldives, which have no extradition treaty with the US.

Where is the Abramovich-owned yacht heading?

Mr Abramovich's yacht Eclipse was seen heading towards Marmaris on Tuesday, according to data compiled by monitoring site Marine Traffic, which was seen by Reuters.

The previous day, his superyacht Solaris was moored in Bodrum, about 80 kilometres from Marmaris, data showed, after skirting waters of EU countries.

There was no suggestion Mr Abramovich was on board either of the yachts.

Ukrainians attempt to stop Abramovich's yacht docking in Turkey

Which yachts have been detained?

On Monday, a superyacht linked to another Russian billionaire was detained by authorities after docking in Gibraltar.

The Axioma , believed to belong to Dmitrievich Pumpyansky, moored at Gibraltar on the southern tip of the Iberian Peninsula, Reuters TV footage showed.

Mr Pumpyansky, who is under UK and EU sanctions, owns Russia's largest steel pipe maker TMK. Data shows the 72-metre vessel is owned by a British Virgin Islands holding company called Pyrene investments, Reuters reported. An article published as part of the Panama Papers leaks names Mr Pumpyansky as a beneficiary of the holding.

On March 12, the world's biggest sailing yacht, called Sailing Yacht A and owned by Russian billionaire Andrey Igorevich Melnichenko , was seized by Italian police.

Several other luxury yachts have also been detained across Europe, including in Gibraltar, Mallorca in Spain's Balearic Islands and the French coast.

Here are 16 superyachts linked to wealthy Russians

1. Eclipse , a superyacht linked to sanctioned Russian oligarch Roman Abramovich , was this week spotted heading in the direction of Marmaris in Turkey.

2. Solaris , belonging to Mr Abramovich , moored in Bodrum at the start of the week.

3. The Axioma superyacht, belonging to Russian oligarch Dmitrievich Pumpyansky , who is on the EU's list of sanctioned Russians, was detained by authorities after docking in Gibraltar on Monday.

4. The Crescent , which was seized by the Spanish government in Tarragona, Spain, on March 17. The ship's owner is not publicly known, although it is believed to belong to Russian Igor Sechin, head of Rosneft Oil in Moscow.

5. Ragnar , owned by former KGB officer and Russian oligarch Vladimir Strzhalkovsky, who is not on the EU sanctions list.

6. Tango , owned by Russian billionaire Viktor Vekselberg, who was sanctioned by the US on March 11.

7. Lady Anastasia , owned by Russian arms manufacturer Alexander Mijeev, is retained at Port Adriano, Mallorca, as a result of sanctions against Russia and Belarus issued by the European Union.

8. Valerie was seized by the Spanish government in Barcelona, Spain, on March 15. Spanish newspaper El Pais reported that the ship is linked to Rostec State Corporation’s chief executive Sergey Chemezov.

9. The $578 million Sailing Yacht A owned by Russian billionaire Andrey Igorevich Melnichenko was seized by Italian police in the port of Trieste on March 12.

10. The 156-metre Dilbar superyacht is owned by Russian billionaire Alisher Usmanov.

11. La Datcha belongs to Russian billionaire businessman Oleg Tinkov.

12. Lady M , owned by Russian oligarch Alexei Mordashov, was seized by Italian police on March 5.

13. Amore Vero was seized in the Mediterranean resort of La Ciotat on March 3 by French authorities. The yacht is linked to Igor Sechin, a Putin ally who runs the Russian oil giant Rosneft.

14. Quantum Blue , owned by a company linked to Russian billionaire Sergei Galitsky, the head of Russian oil giant Rosneft, was seized in southern France on March 3.

15. Superyacht Luna is owned by Russian billionaire Farkhad Akhmedov.

16. Triple Seven is owned by Russian billionaire Alexander Abramov, according to media reports. The yacht was last up for sale in 2020 for €38 million ($41.85 million).

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