russian oligarch yacht italy

672 Wine Club

• Motorcycles
• Car of the Month
• Destinations
• Men’s Fashion
• Watch Collector
• Art & Collectibles
• Vacation Homes
• Celebrity Homes
• New Construction
• Home Design
• Electronics
• Fine Dining
• Benchmark Wines
• Brian Fox Art
• Chase United
• Disneyland Resort
• Gateway Bronco
• Royal Salute
• Sports & Leisure
• Health & Wellness
• Best of the Best
• The Ultimate Gift Guide

Italian Police Seize Russian Oligarch Andrey Melnichenko’s 468-Foot ‘Sailing Yacht A’

The list keeps growing with the impoundment of "sailing yacht a" and suspicion that "scheherazade" might be connected to vladimir putin., michael verdon, michael verdon's most recent stories.

• Jeff Bezos May Be the Owner of a New $80 Million Gulfstream Jet

Rescuers Find 5 Bodies Aboard the Sunken ‘Bayesian’ Superyacht 

• President Biden Finally Took the First Flight in the Long-Delayed ‘Marine One’ Helicopter
• Share This Article

Italy’s finance police seized one of the world’s most iconic sailing yachts, owned by a Russian oligarch. Andrey Melnichenko’s Sailing Yacht A , with an estimated value of $578 million, was impounded in dry dock at the Port of Trieste, according to a statement from the Guardia di Finanzia. Melninchenko was sanctioned by the European Union on March 9 as part of a group of Russian oligarchs who met with Russian President Vladimir Putin following its Ukraine invasion to discuss the potential economic impact of EU and American sanctions.

Related Stories

• Infiniti Is Going SUV-Only After Discontinuing Its Last Sedan
• Starbucks’s New CEO Is Under Fire for His Private-Jet Commute From SoCal to Seattle
• First Drive: This 1968 Mercedes-Benz ‘Pagoda’ SL Is an EV Restomod That’s Better Than the Original

Melnichenko owns the major fertilizer producer EuroChem Group and SUEK, a coal company. He also owns the 390-foot Motor Yacht A. A spokesperson said in a statement that Melnichenko has nothing to do with politics and that he has removed himself from the board of Eurochem and SUEK after the EU sanctioned him. “He has no relation to the tragic events in Ukraine. He has no political affiliations,” said the statement.

US intelligence officials have also said they are trying to link the Scheherazade , a $700 million superyacht in dry dock in Italy, to Putin. The New York Times reported that the US government has made no definite conclusions about the yacht’s ownership, but believe it could be owned by the Russian president. The yacht’s captain, Guy Bennett-Pearce, told the Times that Putin had no stake in the yacht, but declined to name the owner. Bennett-Pearce said he would provide Italian police with documents that divulged the owner’s name. The Italian Sea Group, which owns the shipyard where Scheherazade is dry docked, said that, based on “checks carried out by relevant authorities,” the yacht is “not attributable to the property of Russian President Vladimir Putin.”

Roman Abramovich, who owns Solaris. last week was placed on the UK sanctions list.  Courtesy of Lloyd Werft

Chelsea FC owner Roman Abramovich was also added to the UK sanctions list days after he announced the sale of the football club. Abramovich, who owns a string of supercars and several private jets, also owns the superyachts Solaris and Eclipse. Solaris is reportedly sailing towards Israel, where Abramovich has dual citizenship.

On March 3, France’s finance ministry said that it had impounded Amore Vero , a yacht owned by Igor Sechin, CEO of Russian oil giant Rosneft. The EU had sanctioned Sechin earlier that week, calling him one of Putin’s “most trusted and closest advisors, as well as his personal friend.” German authorities also detained the 512-foot superyacht Dilbar in Hamburg, owned by Alisher Usmanov. Reports said the crew was fired last week. On March 5, Italian authorities impounded two yachts, Lena and Lady M , owned by Gennady Timchenko and Alexei Mordashov, respectively.

On Friday, the US State Department placed Viktor Vekselberg on its sanctions list. Two of Vekeselberg’s luxury assets, an Airbus A319-115 jet and his yacht Tango , were identified as “blocked property.”

The superyacht Scheherazade was impounded in Italy during an investigation to uncover whether it is owned by Russian President Vladimir Putin.  Video Still/YT

The seizures have prompted the superyacht industry to distance itself from the oligarchs. Italian yacht builders Sanlorenzo and Azimut both released statements that they have limited exposure to Russian clients, and none are on the sanctions list. Heesen Yachts released a statement that two Russians sitting on its supervisory board of directors have resigned their positions. The builder said Heesen is 100-percent Dutch-owned company and that Pavel Sukhoruchkin and Pavel Novoselov had nothing to do with its day-to-day operations.

Ownership of many Russian yachts is often hidden by shell companies in tax havens like the Cayman Islands. They are not only hard to trace, but actually seizing and selling them could present a legal quagmire that could take years to resolve.

Some are wondering whether seizing the oligarchs’ private yachts and jets will work. “Sanctions are another example of the West doing what it does best, which is just throwing a lot of cash at the problem and hoping it gets solved,” Olga Chyzh, a professor of political science at the University of Toronto, told the Washington Post. “However sad they are to let go of their Western assets, oligarchs have even more to lose if Putin is no longer there to protect them.”

Eclipse is another yacht owned by Roman Abramovich.  Robb Report File

In the meantime, some oligarchs are taking their yachts to destinations like the Maldives , the Seychelles and Dubai, which have no extradition treaties with the US and EU. Dubai has become a favorite destination for Russian tourism and wealth.

Alex Finley, a former CIA officer, has been tracking the yachts from Barcelona. Using the hashtag “Yacht Watch,” she posts updates on Twitter for Russian-owned superyachts.

“For me, the yachts are a big, easily recognizable symbol of the more serious side of this [Russian invasion]: These are people who support a dictator, and have been supporting him in carrying out destabilization operations against democracy, while at the same time coming here and taking all the benefits of the exact same democracies they were destabilizing,” Finley told the Washington Post.

Read More On:

• Azimut Yachts
• Sanlorenzo Yachts

More Marine

This Revamped 161-Foot Trinity Superyacht Could Be Yours for $16 Million

Tech Mogul Mike Lynch and 5 Others Are Missing After a Yacht Sinks in Italy

A Fleet of Candela’s Electric Foiling Yachts Is Rolling Out to the Red Sea in 2025

Meet the Wine Club That Thinks Differently.

Receive editor-curated reds from boutique California producers four times a year.

Give the Gift of Luxury

Latest Galleries in Marine

‘La Dea II’ Superyacht in Photos

12 Must-See Yacht Debuts at This Year’s Cannes Fest

More from our brands, kamala harris’ sister maya makes symbolic statement in pink power suit at 2024 democratic national convention’s final night, sideline ipad video replays alter view in ncaa this season, sabrina carpenter teases and torments on the masterful — and devilishly nsfw — ‘short n’ sweet’: album review, curator hans ulrich obrist on a dynamic ‘year of ai’ at serpentine in london, the best yoga mats for any practice, according to instructors.

Italy seizes Russian billionaire Melnichenko's Sailing Yacht A

• Medium Text

Sign up here.

Reporting by Emilio Parodi in Bergamo and Stevo Vasiljevic in Tivat Writing by Giselda Vagnoni Editing by Frances Kerry

Our Standards: The Thomson Reuters Trust Principles. , opens new tab

Canada rail shutdown: CN workers to strike Monday

The union representing workers at Canadian National Railway said on Friday they would strike next week, in a fresh threat to the economy after vowing to challenge a government decision to end an unprecedented rail stoppage.

UK Edition Change

• UK Politics
• News Videos
• Paris 2024 Olympics
• Rugby Union
• Sport Videos
• John Rentoul
• Mary Dejevsky
• Andrew Grice
• Sean O’Grady
• Photography
• Theatre & Dance
• Culture Videos
• Fitness & Wellbeing
• Food & Drink
• Health & Families
• Royal Family
• Electric Vehicles
• Car Insurance Deals
• Lifestyle Videos
• UK Hotel Reviews
• News & Advice
• Simon Calder
• Australia & New Zealand
• South America
• C. America & Caribbean
• Middle East
• Politics Explained
• News Analysis
• Today’s Edition
• Home & Garden
• Broadband deals
• Fashion & Beauty
• Travel & Outdoors
• Sports & Fitness
• Climate 100
• Sustainable Living
• Climate Videos
• Solar Panels
• Behind The Headlines
• On The Ground
• Decomplicated
• You Ask The Questions
• Binge Watch
• Travel Smart
• Watch on your TV
• Crosswords & Puzzles
• Most Commented
• Newsletters
• Ask Me Anything
• Virtual Events
• Wine Offers
• Betting Sites

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in Please refresh your browser to be logged in

SY A: Italy seizes one of the world’s largest superyachts owned by Russian businessman

The vessel, called “sy a”, is in storage at the northeastern port of trieste, article bookmarked.

Find your bookmarks in your Independent Premium section, under my profile

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails

Sign up to our free breaking news emails, thanks for signing up to the breaking news email.

A £530 million mega yacht owned by Russian oligarch Andrey Melnichenko was seized on Friday by Italian authorities.

The vessel, called “SY A”, was in storage at the northeastern port of Trieste , a statement from Italy ’s financial police said.

Mr Melnichenko was one of a number of Russian elites recently sanctioned by the EU over close supposed links to the Kremlin, in response to Vladimir Putin’s decision to invade Ukraine .

In announcing its decision the EU said Mr Melnichenko - who owns fertilizer producer EuroChem Group and coal company SUEK - was among a group of 36 businesspeople who met with Mr Putin and other officials on February 24 to discuss the impact of economic sanctions by the EU and EU.

The EU Council decision said: “The fact that he was invited to attend this meeting shows that he is a member of the closest circle of Vladimir Putin and that he is supporting or implementing actions or policies which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine, as well as stability and security in Ukraine.

“It also shows that he is one of the leading businesspersons involved in economic sectors providing a substantial source of revenue to the government of Russia, which is responsible for annexation of Crimea and ​destabilization of Ukraine.”

The businessman is worth approximately £8.4billion ($11 billion) - making him the eight richest man in Russia, according to Forbes.

The 143m (469ft) long superyacht was constructed by German shipbuilder Nobiskrug and features a host of amenities, including an underwater observation pod and hybrid diesel-electric propulsion.

European countries have responded rapidly to seize assets from Russian oligarchs and have already taken a number of the sailing vessels.

Italian authorities have taken Lena belonging to Gennady Timchenko, in the port of San Remo and the Lady M owned by Alexei Mordashov in nearby Imperia.

And French customs officials seized the yacht of Rosneft boss Igor Sechin, before it attempted to flee a French Riviera port.

A number of superyachts owned by Russian billionaires appeared to have found temporary haven in the Maldives, a luxury holiday destination, that crucially does not have an extradition treaty with the US or EU.

The Independent has a proud history of campaigning for the rights of the most vulnerable, and we first ran our Refugees Welcome campaign during the war in Syria in 2015. Now, as we renew our campaign and launch this petition in the wake of the unfolding Ukrainian crisis, we are calling on the government to go further and faster to ensure help is delivered. To find out more about our Refugees Welcome campaign, click here . To sign the petition click here . If you would like to donate then please click here for our GoFundMe page.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Subscribe to Independent Premium to bookmark this article

Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.

New to The Independent?

Or if you would prefer:

Hi {{indy.fullName}}

• My Independent Premium
• Account details
• Help centre

Advertisement

Italy seizes a superyacht tied to Putin.

Italian police boarded the yacht, the Scheherazade, late on Friday, ending what appeared to be preparations to set sail.

• Share full article

By Gaia Pianigiani

• May 6, 2022

After weeks of investigation, Italian authorities announced late Friday evening that they had impounded a nearly $700 million superyacht, saying that its owner had “significant economic and business links” to “prominent elements of the Russian government.” According to U.S. officials, the prominent element is none other than Russia’s president, Vladimir V. Putin.

In recent days, the Scheherazade, as the enormous luxury ship is named, showed signs of readying to set sail , apparently aiming to leave before the Italian government could seize it. But late Friday, Italian police boarded the yacht — which is 459 feet long, with two helicopter decks, a gym and a swimming pool convertible into a dance floor — and told the crew that the ship was not going anywhere. The Italian finance ministry announced that an investigation had established that the ship’s owner, whom it did not name, was an individual that “threatened peace and international security” and that the individual’s actions amounted to the “undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.”

The ministry also specified the urgency to implement the restrictions as the reason to freeze the floating, and extremely expensive, asset.

The Italian authorities, who have actively impounded villas and yachts belonging to sanctioned Russian oligarchs, said in a statement that it had impounded the ship, which is in the dry dock of the port of Marina di Carrara, on the northern coast of Tuscany, even though the person they had identified as its technical owner did not currently appear on a European sanctions list. They added that they could not name the individual until the European Council published the name, and the Italian government committee tasked with protecting the country’s financial security called for the person’s name to be added to the list.

Italian media outlets have for weeks reported that Eduard Khudainatov, a Russian oil tycoon who is currently not under sanctions, owns the yacht. Mr. Khudainatov is considered close to Igor Sechin, a powerful oligarch and close friend of Mr. Putin’s who is currently under sanctions. Italian financial police officials reached on Friday night declined to say who they believed owned the ship.

The captain and the chairman of the Marina di Carrara shipyard, where the Scheherazade underwent refitting and has wintered for two consecutive years, have denied assertions made by U.S. intelligence service, construction workers, crew members and locals in the small port that the vessel unofficially belongs to, and is for the use of, Mr. Putin. They have argued that, on paper, it belonged to a Russian individual who hasn’t been sanctioned by international authorities.

The ship’s captain, Guy Bennett-Pearce, told The New York Times recently that its owner was not on the sanctions list, but also denied to have seen or met Mr. Putin on the yacht.

Yet a former Scheherazade crew member told The New York Times that he had never heard of Mr. Khudainatov and confirmed that crew members always believed and discussed the real owner to be Mr. Putin.

Gaia Pianigiani is a reporter based in Italy for The New York Times.  More about Gaia Pianigiani

Our Coverage of the War in Ukraine

Ukraine Steps Up Strikes, Russia Pushes Ahead:  Ukraine struck a port across from Crimea and damaged a cargo ferry. But Kyiv’s forces continued to struggle  in eastern areas under a relentless Russian assault.

Emerging Diplomatic Push: Officials say efforts to engage neutral nations like India along with the military incursion into Russia will strengthen Ukraine’s hand in any peace talks .

New Cases Against Journalists : Moscow said that it had opened a criminal case  against a CNN correspondent and two Ukrainian reporters on charges of entering Russia illegally while reporting on Ukraine’s incursion.

A Combat Medic’s Quest :  Iryna Tsybukh, who was killed on the front line in Ukraine, wanted to humanize the way Kyiv commemorated the war dead . She also left notes for her own funeral.

Drone Attack on Moscow:  Russia said that it repelled a large Ukrainian drone attack on Moscow . Authorities did not report any damage or casualties.

How We Verify Our Reporting

Our team of visual journalists analyzes satellite images, photographs , videos and radio transmissions  to independently confirm troop movements and other details.

We monitor and authenticate reports on social media, corroborating these with eyewitness accounts and interviews. Read more about our reporting efforts .

From yachts to lavish estates, tracking Russian assets seized so far

By Tal Yellin , CNN

Published April 13, 2022

Updated April 27, 2022

Countries are on the hunt for sanctioned Russian assets after Russia’s invasion of Ukraine in February. Thousands of Russians have since been sanctioned by the United States, the European Union, and the United Kingdom, among others. Superyachts and multimillion-dollar properties have already been seized or frozen by authorities in Italy, France, Spain, the UK and Gibraltar. The United States has also launched KleptoCapture, a task force focused on those who violate sanctions and the seizing of their assets.

This interactive will continue to track known developments and help show where sanctioned Russians park their money outside of Russia. Except for Igor Sechin and Sergei Chemezov, no other oligarchs or related persons mentioned in this story responded to requests for comment from CNN.

Real estate

Other assets

April 14, 2022

“dilbar”  linked to    alisher usmanov   valued at $600-$750 million in hamburg, germany.

Germany has impounded the “Dilbar,” a superyacht connected to a Russian oligarch in Hamburg, the country’s embassy in the US tweeted . The yacht belongs to the sister of Alisher Usmanov and is worth between $600 to $750 million, according to the German Federal Criminal Police Office. Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating Usmanov is alleged to have “financial ties” to Putin. In March, Italy’s financial police seized his real estate and assets worth about $90 million. Usmanov has also been sanctioned by the European Union.

April 12, 2022

Assets  linked to    roman abramovich   valued at over $7 billion in jersey.

Authorities in the Channel island of Jersey froze more than $7 billion worth of assets “suspected to be connected to” Russian billionaire Roman Abramovich, according to a government statement . The frozen assets are either located in Jersey or owned by Jersey incorporated entities, the statement said. The States of Jersey Police also executed search warrants on premises “connected to the business activities” of Abramovich. Abramovich made his fortune in steel and investments and was sanctioned by the UK in March, citing his decades-long relationship with Vladimir Putin. In a statement at the time , the UK government noted that “he is one of the few oligarchs from the 1990s to maintain prominence under Putin.” These frozen assets represent around half his net worth, according to the Bloomberg Billionaire Index .

April 11, 2022

Properties  linked to    nikita mazepin   valued at $114.3 million in sardinia, italy.

A real estate compound, “Rocky Ram,” linked to Nikita Mazepin and his oligarch father Dmitry was seized in Sardinia, the Italian financial police confirmed in a statement. The police said the properties are worth 105 million euros (about $114.3 million). Nikita, a former Formula 1 Haas team driver, and his father were included on a list of individuals sanctioned by the EU in early March. The sanction list described Mazepin Sr. as “a member of the closest circle of Vladimir Putin” saying he and 36 other ”businesspeople” met with Putin and other government officials to discuss how sanctions would affect Russia. In early March, Mazepin Sr. sold his controlling stake in Uralchem Group, one of the largest producers of nitrogen and phosphate fertilizers in Russia, and resigned as CEO from Uralchem JSC, a subsidiary, according to a company statement .

April 7, 2022

Assets  linked to    sanctioned russians   valued at $7.83 billion in switzerland.

Switzerland has so far frozen 7.5 billion Swiss francs (about $7.83 billion) of sanctioned Russian assets, according to a State Secretariat for Economic Affairs (SECO) spokesperson. The number of frozen assets increased from March 24, when 5.75 billion Swiss francs (about $6.18 billion) were initially frozen. Frozen assets include 11 properties throughout Switzerland. No identifiable information was revealed and no specific assets were mentioned in the initial statement. After Russia’s invasion of Ukraine, Switzerland broke from traditional neutrality and adopted EU sanctions.

April 5, 2022

Assets  linked to    sanctioned russians   valued at $3 billion in belgium.

Belgian authorities have frozen $3 billion in Russian assets and blocked $215 billion in transactions since the start of economic sanctions, according to Belgian Minister of Finance Vincent Van Peteghem. The frozen assets belong to 877 individuals and 62 entities on the European sanctions list, according to the statement from the Belgian Finance Ministry. The blocked transactions are the result of other restrictions imposed by the European Union on Russia.

April 4, 2022

“tango”  linked to    viktor vekselberg   valued at $90 million in mallorca, spain.

Spanish authorities seized a superyacht named “Tango,” which they say is owned by Russian oligarch Viktor Vekselberg in Mallorca, according to a statement from the Spanish Civil Guard. The detained yacht was part of an operation with US federal agents and was carried out under a Spanish court order, the statement said. Vekselberg runs the Russian investment company Renova Group. He is worth approximately $16.5 billion, according to the Bloomberg Billionaires Index. He was sanctioned by the United States and is “under investigation for tax fraud, money laundering and document forgery trying to hide the ownership of this superyacht to avoid sanctions” and is “very close to (Russian President) Vladimir Putin,” the Spanish Civil Guard said. Vekselberg’s case marks the first seizure for the newly formed US task force, KleptoCapture. The yacht is 78 meters long (about 256 feet) and is valued at nearly $90 million, per the US Department of Justice.

March 29, 2022

“phi”  linked to    a russian businessman   valued at $50 million in london, england.

The United Kingdom detained the “Phi” yacht belonging to an unnamed-Russian businessman with ties to Russian President Vladimir Putin and the Russian regime, according to the UK Department for Transport. The Dutch-built vessel is docked in East London’s Canary Wharf for the superyacht awards, and was planning to depart March 29. The Department of Transport claims that the ownership of the boat was “deliberately well hidden.” It sails under the Maltese flag and is registered to a company based in the Caribbean islands of St. Kitts and Nevis. The 192-foot yacht is worth approximately £38 million (about $50 million).

March 23, 2022

Assets  linked to    sanctioned russians   valued at $800 million in france.

French authorities have frozen assets linked to sanctioned Russian oligarchs valued at $800 million, according to French government spokesperson Gabriel Attal. The European Union’s latest round of sanctions in early March against Russia included measures targeting 160 oligarchs and Russian politicians. “There will be no taboo if we need to go further,” Attal said about any additional sanctions.

March 22, 2022

Assets  linked to    sanctioned russians   valued at $431 million in the netherlands.

The Netherlands has frozen nearly 392 million euros (about $431 million) in Russian assets, the Dutch Ministry of Finance told parliament in a letter seen by CNN. The ministry said that further asset freezes were expected. The European Union’s latest round of sanctions in early March against Russia included measures targeting 160 oligarchs and Russian politicians.

March 21, 2022

“axioma”  linked to    dmitry pumpyansky   valued at $75 million in gibraltar.

Authorities in Gibraltar have detained the “Axioma” yacht linked to Russian billionaire Dmitry Pumpyansky, according to UK and Gibraltar government statements. Pumpyansky was sanctioned by the EU and UK and was the beneficiary of TMK PAO, Russia’s largest oil and gas steel pipe maker. He also resigned from the TMK PAO’s board of directors, the company announced . The 240-foot yacht is worth approximately $75 million, according to SuperYachtFan . Gibraltar’s ports had been closed to sanctioned individuals, but the Captain of the Port made an exception after JPMorgan Chase was granted a court order authorizing the seizure. “JPMorgan is acting pursuant to its mortgage rights,” the Gibraltar government said in a statement to CNN. JPMorgan Chase, the largest bank in the United States, said in a statement in early March it was getting out of Russia following the invasion of Ukraine, citing “compliance with directives by governments around the world.”

March 18, 2022

Real estate  linked to    alexey mordaschov   valued at $116 million in sardinia, italy.

The Italian financial police seized a real estate complex belonging to Russian billionaire Alexey Mordaschov in Sardinia, according to Italy’s Prime Minister’s office. Mordaschov is the chairman of Russian mining and steel company Severstal and is one of Russia’s richest men, worth $18.5 billion, according to Forbes . The frozen real estate is worth around 105 million euros (about $116 million), per Ferdinando Giugliano, the media advisor to the Italian Prime Minister. On March 4, Mordaschov’s yacht, named “Lady M” was also seized in Italy. The 213-foot yacht is worth approximately 65 million euros (about $71 million).

March 16, 2022

“crescent”  linked to    an unknown owner   valued at $600 million in tarragona, spain.

Spanish authorities have detained a superyacht, named “Crescent” in the port of Tarragona, according to a statement from Spain’s Ministry for Transport. The 135-meter yacht flies a Cayman Islands flag and has been “provisionally detained” to establish whether it is the possession of a person or entity included in the European Council’s package of sanctions, the statement said. The yacht cost approximately $600 million, according to SuperYachtFan.

Real estate  linked to    Petr Aven   valued at $4.4 million in Sardinia, Italy

The Italian financial police froze a real estate complex belonging partially to Russian oligarch Petr Aven in Sardinia, according to a statement issued by Prime Minister Mario Draghi’s press office. The share of real estate is worth approximately 4 million euros (about $4.4 million), according to the Italian Prime Minister’s office. The billionaire stepped down earlier this month as Director of Russian private bank Alfa Bank and from the board of the investment firm he co-founded, LetterOne, after being sanctioned by the EU and UK . The European Union named Aven as “one of Vladimir Putin’s closest oligarchs,” who “regularly meet” with the Russian President in the Kremlin, and “does not operate independently of the President’s demands.”

Real estate and vehicles  linked to    Alisher Usmanov   valued at $72 million in Italy

Real estate assets and six corporate vehicles belonging to Russian oligarch Alisher Usmanov were seized by the Italian financial police. The seized assets are worth approximately 66 million euros (about $72 million). Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating he is alleged to have financial ties to Putin. Italy’s financial police had previously seized his real estate in the Golfo del Pevero area in Arzachena on March 4. Those assets are worth approximately 17 million euros (about $18 million).

March 15, 2022

“lady anastasia”  linked to    alexander mikheev   valued at $7 million in palma de mallorca, spain.

Spanish authorities have detained a yacht linked to Russian oligarch Alexander Mikheev, named “Lady Anastasia,” in the port of Palma de Mallorca, according to the Spanish Ministry of Transport. Mikheev is the CEO of Rosoboronexport, the only state organization in Russia that exports weapons and was sanctioned by the EU and the US. The yacht is nearly 48 meters (157 feet) long and was in the news in late February, when a crew member tried to sink the vessel in retaliation for Russia’s invasion of Ukraine. The yacht is worth approximately $7 million, according to a listing on BOAT International.

“Valerie”  linked to    Sergei Chemezov   valued at $140 million in Barcelona, Spain

Spanish authorities seized the “Valerie” yacht reportedly linked to Russian oligarch and former KGB agent Sergei Chemezov in the port of Barcelona, according to Reuters . Chemezov is the chairman of the Rostec conglomerate and a member of the Supreme Council of ‘United Russia’, per EU sanctions . When the US sanctioned Chemezov in 2014 — as part of an effort targeting Putin’s inner circle — the government said he had known Putin since the 1980s and the two lived in the same apartment complex in East Germany. The yacht is worth approximately $140 million and will remain “provisionally immobilized” until authorities can determine its ownership. A spokesman for Chemezov denied that he is tied to the yacht.

March 11, 2022

“sailing yacht a”  linked to    andrey melnichenko   valued at $577 million in trieste, italy.

The Italian financial police seized “Sailing Yacht A” — which could be linked to Russian fertilizer and coal billionaire Andrey Melnichenko — in the port of Trieste, according to Ferdinando Giugliano, the media advisor to the Italian Prime Minister. Melnichenko was sanctioned by the EU on March 9 and has since removed himself from the boards of two companies he founded, Eurochem and SUEK, according to his spokesman Alex Andreev in a statement to CNN. At 469 feet long, the vessel is also the world’s tallest sailing yacht — taller than the Statue of Liberty — and is worth approximately 530 million euros (about $577 million).

March 4, 2022

“villa lazzareschi”  linked to    oleg savchenko   valued at $3.3 million in lucca, italy.

A 17th century villa allegedly owned by Oleg Savchenko, named “Villa Lazzareschi,” was seized by Italian financial police in the province of Lucca, according to a police statement . Savchenko is a member of the State Duma and was sanctioned by the EU. The seized Italian villa is worth approximately 3 million euros (about $3.3 million).

Real estate  linked to    Vladimir Soloviev   valued at $8.7 million in Como, Italy

Real estate properties belonging to Vladimir Soloviev were seized by the Italian financial police in the province of Como, according to a police statement . Soloviev is a Russian pro-Kremlin propagandist and TV/radio journalist, according to EU Council sanctions . The frozen Italian real estate is worth approximately 8 million euros (about $8.7 million).

Real estate  linked to    Alisher Usmanov   valued at $18 million in Arzachena, Italy

A real estate compendium belonging to Russian oligarch Alisher Usmanov was seized by the Italian financial police in the Golfo del Pevero area in Arzachena, according to a statement . The frozen Italian real estate is worth approximately 17 million euros (about $18 million).

Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings, according to the US Treasury. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating he is alleged to have financial ties to Putin. The US said it sanctioned his private jet and his 512-foot superyacht named “Dilbar.”

“Lena”  linked to    Gennady Timchenko   valued at $55 million in San Remo, Italy

The Italian financial police seized Russian billionaire Gennady Timchenko’s yacht, named “Lena,” in the port of San Remo, according to a police statement . Timchenko is the owner of private investment group, Volga Group. He was sanctioned by the EU in February. When the US government sanctioned Timchenko in 2014, an effort targeting Putin’s inner circle, they stated his “activities in the energy sector have been directly linked to Putin.” The 126-foot yacht is worth approximately 50 million euros (about $55 million).

“Lady M”  linked to    Alexey Mordaschov   valued at $71 million in Imperia, Italy

The Italian financial police seized Russian billionaire Alexey Mordaschov’s yacht, named “Lady M,” in the northern port of Imperia, according to a police statement . Mordaschov is the chairman of Russian mining and steel company Severstal and is one of Russia’s richest men, worth $18.5 billion, according to Forbes . The 213-foot yacht is worth approximately 65 million euros (about $71 million).

March 3, 2022

“amore vero”  linked to    igor sechin   valued at $120 million in la ciotat, france.

French authorities seized a yacht linked to Igor Sechin in the Mediterranean port of La Ciotat, according to the French Finance Ministry . Sechin is the CEO of Rosneft, the Russian state oil company and one of the world’s largest crude oil producers. The yacht, named “Amore Vero” — or “True Love” in Italian — was scheduled to leave the port on April 1 after arriving in January. Sechin was deputy prime minister of Russia from 2008 until 2012. The European Union said his connections to Putin are “long and deep,” with the two men maintaining daily contact. The yacht is worth about $120 million, according to SuperYachtFan. A Sechin spokesman denied that he is tied to the yacht.

Tips: Do you have information to share about seized or frozen Russian assets? Learn how to reach our journalists and help us investigate.

Senior Visuals Editor @CNNBusiness @CNN

Italy seizes US$156 million in oligarch wealth, pressing Putin

European governments are moving against Russian oligarchs to pressure Russian President Vladimir Putin to back down on his war in Ukraine, seizing superyachts and other luxury properties from billionaires on sanctions lists.

Italy since Friday has seized 143 million euros (US$156 million) in luxury yachts and villas in some of its most picturesque destinations, including Sardinia, the Ligurian coast and Lake Como.

"We must be able to stop Putin's attack, bringing him to the table, and he won't go with niceties," Italian Foreign Minister Luigi Di Maio told Italian state TV on Friday, announcing Italy's plans to begin the seizures of property belonging to oligarchs close to Putin.

• Latest updates from Ukraine
• How could the war in Ukraine end?
• Who are Russia's oligarchs?

Italian financial police moved quickly seizing the superyacht "Lena" belonging to Gennady Timchenko, an oligarch close to Putin, in the port of San Remo; the 65-metre (215-foot) "Lady M" owned by Alexei Mordashov in nearby Imperia, featuring six suites and estimated to be worth 65 million euros; as well as villas in Tuscany and Como, according to government officials.

The villa of Russian-Uzbek business magnate Alisher Usmanov also was seized along the tony Emerald Coast in northern Sardinia, long the playground of the world's wealthiest.

German officials this week denied reports that they had seized Usmanov's yacht in the port of Hamburg. According to the British government, he also owns Beechwood House in Highgate, worth an estimated 48 million pounds, and the 16th-century Sutton Place estate in Surrey.

Activists say that going after the oligarchs is tantamount to going after Putin.

"Vladimir Putin keeps all his money with the oligarchs," said William Browder, a U.S.-born and London-based financier and human rights activist who was once a major investor in Russia but ran afoul of the government in the late 2000s.

"And this is a very effective psychological warfare, to start seizing yachts. I think it's demoralizing for the oligarchs, and it's demoralizing for Vladimir Putin. And he's a guy who ... rules by image, you know, is the person who has pictures of himself with the shirt off on a horse. And so it's a bad image to have one of his best friends' yacht seized in the south of France," Browder said.

Germany's Economy Ministry said it was in the process of "swiftly and effectively implementing the Russia sanctions" but declined to say publicly which assets had been seized, if any.

So far, French authorities have seized a yacht linked to Igor Sechin, a Putin ally who runs the Russian oil giant Rosneft, in the Mediterranean resort of La Ciotat where it arrived in January for repairs. French officials said Thursday that the crew was preparing for urgent departure when they arrived, even through the repairs were still underway.

Britain, long a haven of oligarch wealth is under pressure to do more. Putin confidant Roman Abramovich, who owns the top-flight football club Chelsea, said this week he would put it up for sale. He has not been sanctioned, but opposition politicians and members of Prime Minister Boris Johnson's party have asked why not.

The U.K. has frozen the assets of the individuals on its own list and is making changes to the law to make it easier to go after those on the lists of allies after criticism that it has been too slow to act. Still, it will take a long time to unravel, as many assets are in shell companies.

Trisha Thomas in Rome, Danica Kirka in London, Aritz Parra in Madrid, Frank Jordans in Berlin and Barbara Surk in Nice, France, contributed to this story.

CTVNews.ca Top Stories

BREAKING | Rail workers pushing back hard against federal government move to get them back to work

Rail workers pushed back hard Friday against the federal government's move to get them back on the job, with a new strike notice and a regulatory challenge making it unclear when freight traffic will fully resume.

Listeria outbreak linked to plant-based milks appears to be slowing: PHAC

The Public Health Agency of Canada says a Listeria outbreak linked to several plant-based milks appears to be slowing down, with no new cases reported in the last two weeks.

'Dry promotions': Here's what a money expert recommends when the title outweighs the paycheck

Here's how to navigate a 'dry promotion' in your employment, according to a money expert on CTV's Your Morning.

Could 2 NASA astronauts be stuck at the space station until next year? A decision is imminent

Will two NASA astronauts return to Earth soon in their troubled Boeing capsule? Or wait at the International Space Station for a ride home next year with SpaceX?

Windsor Spitfires welcome Keanu Reeves to its roster

An infamously wholesome Canadian star is in Windsor, and is living up to his reputation.

Late French film star Alain Delon wanted his dog buried with him. The dog gets to live

Before he died this week, French film icon Alain Delon once suggested he wanted his beloved sheepdog Loubo buried with him. To the relief of animal lovers around France, Loubo will be allowed to survive.

Ontario woman thought she spent $39 on theatre tickets. She didn't. Here's what happened

An Ontario woman paid seven times more for her theatre tickets than she thought she did. 'I was shocked. I had no idea the tickets were going to cost that much.'

Loblaw piloting ultra-discount No Name grocery stores in Ontario

Loblaw is piloting a new ultra-discount grocery store in Ontario that promises to deliver even lower prices by stripping away even more frills.

German warship blasts Darth Vader anthem in heart of London. 'No deeper message,' navy says

Germany's navy says there was 'no deeper message' in the choice to blast the famed Imperial March, Darth Vader's theme song in the 'Star Wars' films, from one of its warships as it cruised down the River Thames through London this week.

Body found in Ont. identified as B.C. woman who went missing 19 years ago

A body discovered in a wooded area near Rockwood, Ont. has finally been identified as a missing British Columbia woman.

Mounties lay terror charges against suspect from Greater Toronto Area

The RCMP say they have laid terrorism charges against a suspect from the Greater Toronto Area (GTA) after a "lengthy" investigation.

Despite continued pleas from coroners, Montreal metro not proceeding with platform screen doors any time soon

Montreal's transit authority said it has no immediate plans to implement platform screen doors on the metro despite repeated pleas from Quebec coroners who say the safety barriers can prevent suicides and assurances from the province that the costs to install them would be covered.

Capital Pride still expecting thousands for annual parade despite controversy

Final preparations are underway for this year's Capital Pride parade which will look different than in years past. The parade route will be shorter because of fewer police resources, organizers say.

RCMP working with international police amid new slew of threats targeting synagogues

Mounties say they are responding to additional bomb threats made across Canada today that they believe are linked to similar threats made the day before.

Accessibility features at new Toronto courthouse 'missing or botched': AODA

An advocacy group is calling Toronto's newest courthouse a 'billion-dollar accessibility bungle' after releasing a video showing what it says are various barriers throughout the building.

27 killed after a bus with Indian pilgrims drives off a Nepal highway and crash

At least 27 people were killed and 16 others injured when a bus carrying dozens of Indian pilgrims drove off a key highway and crashed on Friday in Nepal, officials said.

Taliban codify morality laws requiring Afghan women to cover faces, men to grow beards

Afghanistan's Taliban formally codified a long set of rules governing morality this week, ranging from requiring women to cover their faces and men to grow beards to banning car drivers from playing music.

The congregation wore pastels to honour 7-year-old U.K. knife attack victim at her funeral

The congregation wore pastels and floral prints for 'Elsie’s Special Day.' Her fellow cheerleaders formed an honour guard. The family dog stood by the door.

Police officer convicted of tossing smoke bomb at police during U.S. Capitol riot

A Maryland police officer was convicted on Friday of charges that he joined a mob's Jan. 6, 2021, attack on the U.S. Capitol and hurled a smoke bomb and other objects at police officers guarding a tunnel entrance.

Judge rules Breonna Taylor's boyfriend caused her death, dismisses some charges against ex-officers

A federal judge has thrown out major felony charges against two former Louisville officers accused of falsifying a warrant that led police to Breonna Taylor's door before they fatally shot her.

Bill Morneau: Canada needs to spend more on defence faster to make inroads with next U.S. administration

As the Canadian government seeks to make inroads with the next U.S. administration, former Liberal finance minister Bill Morneau says Canada needs to take U.S. security concerns seriously and accelerate the timeline by which Canada will hit NATO's defence spending obligation.

Railways prepare to restart after federal government forces binding arbitration in labour dispute

Canada's Labour Minister Steven MacKinnon is intervening to end a work stoppage that saw this country's two largest railways grind to a standstill Thursday, by forcing the parties into binding arbitration.

Global Affairs Canada 'very proud' of $9M NYC condo purchase, says consul general Tom Clark didn't influence

Canada's consul general in New York Tom Clark did not influence the government's decision to purchase his new official residence, a senior Global Affairs Canada official told MPs Wednesday.

Family of patient who died in Fredericton ER waiting room files lawsuit against Horizon Health

The family of a man who died two years ago while waiting for care in the Dr. Everett Chalmers Regional Hospital waiting room has filed a lawsuit against Horizon Health Network and two nurses who were on shift that night.

B.C. pharmacist gave 'unauthorized prescriptions' to family, college says

A pharmacist from B.C.'s Okanagan has been issued a suspension and fine after admitting he provided 'unauthorized prescriptions' to family members.

The biggest diamond in over a century is found in Botswana — a whopping 2,492 carats

The largest diamond found in more than a century has been unearthed at a mine in Botswana, and the country's president showed off the fist-sized stone to the world at a viewing ceremony Thursday.

A robot's attempt to get a sample of the melted fuel at Japan's damaged nuclear reactor is suspended

An attempt to use an extendable robot to remove a fragment of melted fuel from a wrecked reactor at Japan’s tsunami-hit Fukushima Daiichi nuclear power plant was suspended Thursday due to a technical issue.

'Caught me by surprise': Rare 'blue' frog spotted in Nova Scotia

When a Nova Scotia woman set out on a walk, she ended up discovering something very colourful - a rare 'blue' frog.

Entertainment

Peter Dinklage to walk CIFF red carpet in support of Alberta-shot 'The Thicket'

The Calgary International Film Festival (CIFF) will kick off its 25th anniversary with a star-studded red carpet – featuring Peter Dinklage. Dinklage, best known for portraying Tyrion Lannister in Game of Thrones, will be attending CIFF in support of his new film The Thicket.

Edible or not? Alicia Silverstone's misstep shows how toxic lookalikes can fool you

Alicia Silverstone worried fans this week when she posted a TikTok clip of herself nibbling a poisonous berry she found along a sidewalk on a trip to England. The “Clueless” actor said she thought the fruit might have been a tomato, but realized it wasn’t after a couple bites revealed an off-tasting, peppery flavor.

Number of people receiving EI up more than 10 per cent in past year: StatCan

Almost 474,000 people are receiving regular employment insurance in Canada, according to the latest data, which is a 10 per cent increase compared to the same time last year.

Postmedia cuts 30 per cent of news jobs at St. John's Telegram paper in takeover

About 30 per cent of newsroom jobs have been cut at a 145-year-old daily newspaper in St. John's, N.L., following a takeover by Postmedia.

The CNE has spoken. These are the 5 foods worthy of being in its inaugural hall of fame

If there is one thing that the Canadian National Exhibition (CNE) is well-known for, it's the food. Here are the ones the fair dubbed worthy enough to be in its hall of fame.

Starbucks brings back Pumpkin Spice Latte earlier than ever

Beginning Thursday, the fall favourite beverage returns to U.S. and Canada menus — two days earlier than in 2023.

McGroarty traded from Jets to Penguins, Brayden Yager coming to Winnipeg

The Jets announced Thursday the team traded the rights to Rutger McGroarty in exchange for Brayden Yager.

'Pommel Horse Guy' Stephen Nedoroscik will join 'Dancing With the Stars'

Fresh off the Olympics, U.S. breakout star and medalist Stephen Nedoroscik — better known to the internet as “Pommel Horse Guy” — will compete on the upcoming season of “Dancing With the Stars.”

PWHL Ottawa's Brianne Jenner brings girls' hockey camp to the capital

After a breakthrough inaugural season, PWHL Ottawa team captain Brianne Jenner is bringing new opportunities to the city's young female hockey players.

Why Ford's three-row electric 'personal bullet train' SUV went off the rails

At a packed investor day in Dearborn, Michigan, last year, Ford Motor F.N executives lauded their forthcoming three-row electric SUV, which they said would be rolling off assembly lines in 2025.

USNTSB sends team to investigate California crash and lithium-ion battery fire involving a Tesla Semi

A crash and large fire along a California freeway involving an electric Tesla Semi has drawn the attention of federal safety investigators.

2 found in trunk of car speeding 50 km/h over the limit in Ottawa

Ottawa police caught a group of eight people in a five-seater vehicle speeding 50 km/h over the speed limit on Greenbank Road in Ottawa's Barrhaven neighbourhood.

Local Spotlight

Video shows swimmer bringing man to safety near Vancouver's Stanley Park

An avid swimmer insists he did not rescue a man he spotted floating in Vancouver’s English Bay – he just happened to be in the right place at the right time, and offered a helping hand.

'Competitiveness has always been a part of me': Former Humboldt Bronco heading to Paris for Paralympics

Jacob Wassermann, 24, is heading to the 2024 Paralympic Games in Paris just a few years after taking up the sport of rowing.

Video shows sea otter hitching ride on B.C. woman's paddleboard

When Joanie Paquin was walking towards the water the other day, she was preparing to go paddle boarding with her visiting sister. She never expected to pick up a second passenger.

Robert Pattinson, Jennifer Lawrence movie among major productions filming in Calgary

A new movie starring Hollywood heavyweights Robert Pattinson, Jennifer Lawrence and LaKeith Stanfield began filming in Calgary Monday.

Saskatchewan's Twilite Drive-in celebrates 70th anniversary

The Twilite Drive-in Theatre has been serving movie lovers for decades.

Children battling chronic illness get luxury rides to BC Lions game

More than a dozen children who have been diagnosed with chronic illnesses were given an unforgettable experience on the way to Sunday’s BC Lions game.

Decades of protection added to 164-year-old New Brunswick lighthouse

Decades of durability have been added to one of Canada’s most photographed lighthouses, the Swallowtail Lighthouse on New Brunswick’s Grand Manan Island.

B.C.'s West Coast Express commuter train still suspended as work stoppage continues

Riders of the West Coast Express in British Columbia's Lower Mainland must continue using alternatives after the first-ever simultaneous work stoppage on Canada's two major railways halted service on the commuter line.

They lit candles and chanted to 'manifest' Taylor Swift tickets. In a roundabout way, it worked

Desperate times call for desperate measures, as the saying goes. And Shae Harding and her daughters were getting desperate.

Owners of Vancouver apartment building that burned three times appear in court

The owner of a Mount Pleasant apartment building that has been the site of three major fires in just over a year appeared in court Thursday.

GO train service on Milton line, Hamilton GO Station suspended for second day

As the federal government moves into to end a rail labour dispute that has caused supply chain issues across the country, some commuters in the Toronto area are still feeling the effects of the job action.

Brother-in-law of man allegedly swarmed by teens says family reeling from loss

The brother-in-law of a homeless Toronto man who died after police allege he was attacked by a group of teen girls says his entire family is reeling from the loss.

'Not acceptable': Unions in Calgary push back against order to end rail strike

A day after the federal government stepped in with binding arbitration to force thousands of unionized rail workers back on the job, the union held a rally in Calgary to say they disagree with the move.

More murder charges laid in death of Calgary man

RCMP have laid more charges in the death of a Calgary man whose remains were found in Rocky View County in the spring.

Icefields Parkway reopens to traffic without amenities and limited cell phone coverage: Parks Canada

The Icefields Parkway (Highway 93 North) has reopened to traffic after a wildfire swept through the park last month.

17-year-old facing charges in connection with fatal crash in Sharbot Lake, Ont.

A 17-year-old is facing charges related to dangerous operations causing death and bodily harm after a fatal rollover that took place in May, leaving one dead and five others with serious injuries in Sharbot Lake, according to the Ontario Provincial Police (OPP).

O-Train off peak service drops to every 10 minutes on Monday: Here's what you need to know

The O-Train will be running less frequently during off-peak hours starting on Monday, as OC Transpo adjusts service on the light-rail transit line to meet customer demand and travel patterns.

Boy, 13, facing charges after people shot with an air gun in Gatineau, Que., police say

Police in Gatineau, Que. say a 13-year-old boy is facing charges after allegedly firing an air gun at vehicles and bystanders in the Aylmer area.

Rail stoppage: Montreal commuters eye alternatives as trains halted for second day

More than 20,000 Montreal commuters are again being forced to find alternative ways to get to work because of a work stoppage at Canada's two biggest railways that has halted trains for a second consecutive day.

Police investigate shooting at Montreal salon where owner was killed last year

Montreal police are investigating after a salon that was the scene of a deadly shooting last year was shot at again last night while it was open.

Edmonton Fringe $90K short of fundraising goal days before festival draws to a close

With only three days left of the Edmonton International Fringe Theatre Festival, organizers are still struggling to reach their funding goal.

Three arrested after cocaine, meth and weapons seized from vehicle on Confederation Bridge: P.E.I. RCMP

Three people have been arrested and charged after police say they seized drugs and weapons from a vehicle heading towards Prince Edward Island on the Confederation Bridge.

Teen charged in second machete attack: Winnipeg police

Winnipeg police have arrested three youths in connection with a pair of machete attacks in Winnipeg, including one who was previously charged with causing life-altering injuries to a 15-year-old male.

Cyclists calling on Manitoba to implement 'Idaho stop' law, saying it would make roads safer

Bike safety advocates say forcing cyclists to stop at a stop sign puts them at risk and it's time to change the law.

Police warn of dangerous drugs on Manitoba First Nation

The Manitoba First Nations Police Service (MFNPS) is warning residents about a dangerous drug supply circulating in Sandy Bay First Nation.

'It's just tough': Riders fall short to Toronto Argonauts 20-19

Lirim Hajrullahu's single on the game's final play earned Toronto a wild 20-19 win over the Saskatchewan Roughriders on Thursday night.

'What do Riders do?': Saskatchewan remembers beloved coach and father figure Ken Miller

Rider Nation is remembering one of its most beloved leaders in recent memory and the unforgettable impact he had during his tenure in Saskatchewan.

Here's what's happening in Regina this weekend

Summer vacation may be wrapping up and fall is just around the corner but there are still plenty of things for people do to before the kids head back to school.

Police release photo after Cambridge jewelry store theft

Waterloo Regional Police are trying to identify a male after a theft at a Cambridge jewelry store.

'Very poor air quality': Saskatoon is under air quality advisory

Environment Canada has extended its air quality advisory for Saskatoon due to the persistent presence of wildfire smoke.

'I'm the boss': Saskatoon husband and wife school bus driving team 'get focused' ahead of September

School is starting up again and so is Jerry Diekema’s bus. Diekema drives a school bus and his wife, Barb, is his bus monitor.

Northern Ontario

BREAKING | One dead, one in hospital in fatal Highway 17 crash in West Nipissing

A fatal crash on Friday morning involving two passenger vehicles on Highway 17 in West Nipissing has closed the road in both directions.

Person from Mattawa charged with trafficking their partner

After a four-month investigation, provincial police in North Bay charged a 56-year-old Mattawa resident with several human sex trafficking-related offences.

Mask, cash and airsoft gun found during arrest in Sarnia

Police in Sarnia are hoping the public may have more information after officers found several items during a recent arrest. Around 3:20 p.m. on Thursday, officers were called to Rainbow Park and during a search unrelated to the initial call, police found a man slumped over in a chair.

Pedestrian killed in collision outside of Tillsonburg

Police say that at roughly 7:33 a.m. emergency services were called to a collision involving pickup truck and pedestrian on Potter’s Road.

London Police Services Board announces new executive director

The London Police Services Board (LPSB) has announced its new executive director. Stephanie Johanssen has been named to the role after what the board described as an "extensive search."

Woman's face sprayed during attempted purse-snatching in Barrie parking lot

Police in Barrie are on the lookout for a man accused of spraying a substance into a woman's face and attempting to steal her purse.

Man faces assault, weapons charges after police standoff in Innisfil

Police arrested and charged a man accused of assault and barricading himself inside an Innisfil home on Thursday.

Muskoka man faces hefty fine for possessing 3 black bear gall bladders

A Gravenhurst resident has been fined $6,500 for illegally possessing black bear parts, as part of the Ontario government's efforts to protect black bear populations.

Highway 401 in Tilbury closed due to collision

The westbound lane of the 401 is closed near Tilbury as OPP tend to the aftermath of a three-vehicle collision.

‘It’s been heavily confusing’: Windsor rail workers return to picket lines at CPKC

Teamsters Local 528 workers remained in lockout Friday, even though rail workers at CN returned to work.

Human trafficking suspects arrested: Windsor police

Two human trafficking suspects have been arrested for allegedly violating their bail conditions.

Vancouver Island

Work stoppage continues at CPKC, as CN rail workers return

The labour dispute that brought Canada’s two main railway lines to a halt on Thursday has been messy, so perhaps it was fitting that as it appeared to be coming to an end, the waters were muddied further Thursday evening.

B.C. addictions minister allowed to respond to decriminalization court challenge

Canada's Federal Court has agreed with British Columbia's minister of mental health and addictions that she should be a respondent to a court challenge against the province's decision to dial back its drug decriminalization policy.

Man charged with mischief for allegedly starting several fires Vernon, B.C.

A 33-year-old man is facing multiple charges for allegedly setting several fires in Vernon on Monday.

West Kelowna police seek help identifying break-and-enter suspect

Mounties in West Kelowna are looking for a suspect they say broke into a local home while a mother and her child were inside.

One year later: Hazards, progress, frustration in wake of West Kelowna wildfire

When the McDougall Creek fire sparked on Aug. 15, 2023, no one could’ve imagined it would mushroom in size, consuming homes, infrastructure and livelihoods in the West Kelowna area with damage that will take years to address.

Whoop-Up Days providing economic benefit as Lethbridge and District Exhibition continues to face deficit

With thousands of people already through the gates at this year's Whoop-Up Days, the Lethbridge and District Exhibition (LDE) is hoping to cash in after a year of financial troubles.

Top Alberta Court allows appeal of coal miner's exploration applications

Alberta's top court is allowing a southwestern ranching community to appeal applications for coal exploration permits.

Lethbridge drug house shut down again due to continued illegal activity

Alberta Sheriffs have shut down a drug house in Lethbridge for the second time this year due to illegal activity.

Sault Ste. Marie

Sudbury couple wins lottery's second prize with 'special' numbers

A Sudbury couple who has been playing the lottery together since Lotto 6/49 began received their first big win.

Spike in forest fires in the northeast in the last 24 hours

There have been a dozen new forest fires since its last report, Ontario Forest Fires said Thursday evening. That includes four late Wednesday evening and eight on Thursday.

Sault street party offers one more summer blast

Game On Street Party, a yearly block party, took place in Sault Ste. Marie on Thursday, aiming to provide end-of-summer fun and connection to local resources.

Newfoundland newspaper The Telegram reducing print run after Postmedia purchase

A 145-year-old newspaper in St. John's, N.L., is cutting its print run to once a week after a court approved Postmedia's purchase of the insolvent SaltWire Network earlier this month.

Myrle Vokey, beloved educator who created the Newfoundland Screech-in, dead at 85

Myrle Vokey, an educator who created Newfoundland's famed Screech-in ceremony as a way to give people a sense of belonging, died on Saturday at the age of 85, after a road trip and a night out for his 58th wedding anniversary.

Trial begins for Newfoundland RCMP officer accused of assaulting unruly air passenger

A trial is underway for an RCMP officer accused of assaulting an unruly flight passenger after he was escorted off an international flight that had been diverted to the airport in Stephenville, N.L.

Shopping Trends

The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop.  Read about us.

Editor's Picks

Our guide to the best meal prep containers for everything from snacks to lunches, 16 boring (but very useful) back-to-school supplies that cost less than $15, here are the running belts that should be on your radar, 14 practical household products on amazon canada that cost $30 (or less), the 5 best essential oil diffusers in canada, tested and reviewed, just 21 things you might want to add to your cart this week, 20 birthday gifts that won't disappoint, 14 of the best gifts for 10-year-olds you can get online right now, 15 practical gifts that cost less than $50, if you’re looking for a new eyebrow gel, here are 10 that reviewers swear by, 15 of the best hair products for split ends, according to reviewers, if you're looking for a hyaluronic acid serum, here are a few that reviewers are loving right now, 22 amazon canada deals and discounts on back-to-school supplies, the best amazon canada deals on kitchen products this week, from lululemon to amazon canada: here are all the best sales, deals, and discounts you'll find online right now, stay connected.

Watch CBS News

West hits Russian oligarchs where it hurts — their mega-yachts

By Megan Cerullo

March 7, 2022 / 1:55 PM EST / MoneyWatch

The U.S. and European Union are cracking down on sanctions against Russian billionaires by taking control of their mega yachts and other valuable assets, including villas and private jets, parked in territory over which their governments have jurisdiction. 

Italy on Friday said it seized a $70 million yacht moored in Liguria, Italy, belonging to Alexey Alexandrovits Mordaschov, a steel magnate with close ties to the Kremlin. 

"Italy's police has just seized 'Lady M Yacht' - a €65 million yacht belonging to Alexey Alexandrovits Mordaschov located in Imperia (Liguria) - in compliance with the recent EU sanctions," Ferdinando Giugliano, a media adviser to Italy's prime minister, said in a tweet.

Italy’s police has just seized “Lady M Yacht” - a €65m yacht belonging to Alexey Alexandrovits Mordaschov located in Imperia (Liguria) - in compliance with the recent EU sanctions. pic.twitter.com/8NzqkXH7lE — Ferdinando Giugliano (@FerdiGiugliano) March 4, 2022

On Saturday, Italy's tax police also froze "Lena," a $54 million yacht belonging to Gennady Nikolayevich Timchenko, the founder of a Moscow, Russia-based private investment group and close friend of Russian President Vladimir Putin, whom the EU has sanctioned.

Assets that cannot be moved are even easier to take possession of, or prevent their owners from accessing. 

Italy also froze a $3.2 million property in Tuscany belonging to Oleg Savchenko, who is among the richest Russian business people. Giugliano tweeted an image of a Ministry of Economy and Finance vehicle in front of the estate, named "Villa Lazzareschi." 

Italy’s tax police also froze “Lena” - a €50m yacht belonging to Gennady Nikolayevich Timchenko located in Sanremo (Liguria) - and “Villa Lazzareschi” - a €3m property belonging to Oleg Savchenko located in the province of Lucca (Tuscany). pic.twitter.com/yc1Q2y4d0G — Ferdinando Giugliano (@FerdiGiugliano) March 5, 2022

President Biden has also said the U.S. government is homing in on Russian oligarchs' super-yachts, private planes and other conspicuous symbols of their wealth as Russian President Vladimir Putin escalates his country's attack on Ukraine.  

A new federal task force, dubbed "KleptoCapture," will take aim at what Mr. Biden described in his State of the Union address on Tuesday as "the crimes of Russian oligarchs."  

"We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets," Mr. Biden said. "We are coming for your ill-begotten gains."

More than a dozen Russian billionaires are under sanction by the U.S., European Union and the United Kingdom, and some are trying to dodge restrictions by moving assets that are mobile — including mega-yachts — into territories where sanctions don't apply and where their property cannot be seized or their assets frozen. 

The super-yacht "Graceful," believed to be owned by Vladimir Putin himself, left Germany two weeks before Russia invaded Ukraine and recently docked in Kaliningrad, near Russia's nuclear weapons operations, data form MarineTraffic, a maritime tracking website, shows. 

Putin ally Roman Abramovich, who made his fortune in the energy business, is not currently on any government sanction lists, but is making moves to unload valuable assets, including Chelsea Football Club. Among those assets is a super-yacht named "Eclipse" that is the third largest pleasure vessel in the world, measuring more than 540 feet long and 72 feet wide, according to Marine Vessel Traffic, a website that tracks the location of ships and other vessels, including privately owned yachts. It recently set sail from St. Barts to Philipsburg, the capital of Sint Maarten — the Dutch side of the Caribbean island Saint Martin.

"Le Grand Bleu," owned by Russian oil titan Eugene Shvidler, is also anchored off the island of St. Martin, where EU sanctions can be enforced. 

Too big to hide

Some oligarchs on sanction lists, who are alleged to have built their wealth in Russia through political corruption, have already been cut off from their own valuable assets. 

The EU's sanctions on Russian oligarchs on Wednesday led to Germany's freezing of a yacht owned by Alisher Usmanov, one of the wealthiest Russians, according to a Forbes report . According to Marine Traffic, the 512-foot yacht, named "Dilbar," had been stationed in Hamburg, Germany, since October 29 for repairs. 

The French Ministry of Economy and Finance on Thursday said its customs agents seized the "Amore Vero" yacht belonging to a company owned by Igor Setchine, director of Russian oil company Rosneft. The yacht had been stationed for repairs in La Ciotat in Southern France's Cote d'Azur region. 

While the crew's intention was to "sail urgently, without having completed the planned work," it was seized before it could depart, the agency said. 

Fleeing hotspots

In hopes of avoiding the same fate, some yacht owners are "hightailing it on the high seas," financier and anti-corruption activist Bill Browder told CBS News senior investigative correspondent Catherine Herridge. 

They are mooring their mega-yachts, some with 100-member-crews, in places like Dubai and the Maldives — a nation of tiny islands in the Indian Ocean, which does not have an extradition treaty with the U.S. "They're parking their assets where they cannot be seized," Browder told CBS MoneyWatch. 

The problem is that ships of this size can't stay indefinitely in a place like the Maldives, which can generate significant income through docking fees, given their need to refuel and stock provisions. 

"There are a number of these yachts in the Maldives, and unless those countries put sanctions in place they're probably safer there," Alasdair Milroy, a maritime accountant and owner of Breaking the Mould Accounting, told CBS MoneyWatch. "But you can only spend so long in someplace like the Maldives on a yacht of that size without needing provisions, or to refuel, so I don't know how well that will last for a longer period. I don't think they'll be able to do that for that long."

Deputy Attorney General Lisa Monaco, who is in charge of the new U.S. task force targeting Russian oligarchs, issued a stark warning: "We will use every tool to freeze and seize your criminal proceeds," she said in a statement.

Confiscating Russian oligarchs' wealth could be an effective tactic, Browder told CBS MoneyWatch. "It's hugely symbolic, and part of this thing is psychological war. This really has an impact — if not financially, then psychologically."

At least 10 of the 100 largest super-yachts in the world belong to Russian oligarchs, according to Marine Vessel Traffic .

Websites tracking maritime activity show that other oligarchs' yachts are on the move as their owners attempt to shield their assets from seizure. The "Galactica Super Nova," a 230-foot long, $80 million vessel owned by Vagit Alekperov, president of Russian oil company Lukoil, recently left its mooring in Barcelona, Spain, where EU sanctions apply, and set sail for Tivat, Montenegro, in the Balkans, according to VesselFinder.com.  

"Clio," a super-yacht owned by Russian industrialist Oleg Deripaska, is currently anchored off of the Maldives, according to MarineTraffic.com . A handful of other oligarch-owned mega-yachts are also moored in the Maldives, including Alexander Abramov's "Titan," Viktor Rashnikov's "Ocean Victory" and Vladimir Potanin's "Nirvana." 

How sanctions work

Placing an individual or their assets under official sanction does not give another government the legal authority to seize their assets — only to freeze or cut off their owner's access. 

"Generally speaking, sanctions are the authority that allow us to freeze assets. They are most easily understood in context of a bank account — it's literally put into a frozen account that still exists and collects interest and you own it, but you can't get any money from it," said Adam M. Smith, a partner at law firm Gibson Dunn. 

Tangible property must also be under the jurisdiction of the U.S. for any sanctions to work, or for the government to cut off their owner's ability to use an asset like a private yacht or jet. 

Daniel P. Ahn, a sanctions and economic warfare expert at the Woodrow Wilson International Center for Scholars and former chief economist for the U.S. State Department, said that targeting an individual's yacht can limit its use even it isn't seized.

"If it arrives in the West, any port that can refuel is not allowed to do that anymore. So maybe the yacht itself doesn't get seized, but it's a lot less useful thing to have," he said. 

For this reason, sanctioned individuals may choose to try to sell assets like yachts at a loss, rather than risk losing use of them indefinitely. 

"If I was an oligarch, the first thing I would do is I would protest and say I shouldn't be blacklisted. Second would be to see if I can liquidate these assets and claw back something, knowing that otherwise it may rot at the pier without proper maintenance and the like," Ahn said.

As far as their impact goes, the sanctions are more than merely symbolic, he added. "The ultimate objective is to make life very difficult for these oligarchs, and it has been achieved," Ahn said. 

Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting.

More from CBS News

Paramount says it's considering acquisition bid from Edgar Bronfman

Here's what Americans think they need to be considered wealthy

What to know about credit card debt forgiveness this fall

What you need to know about Canada's rail halt

• Updated Terms of Use
• New Privacy Policy
• Your Privacy Choices
• Closed Captioning Policy

Quotes displayed in real-time or delayed by at least 15 minutes. Market data provided by  Factset . Powered and implemented by  FactSet Digital Solutions .  Legal Statement .

This material may not be published, broadcast, rewritten, or redistributed. ©2024 FOX News Network, LLC. All rights reserved. FAQ - New Privacy Policy

Russian oligarch yachts, luxury coastal properties seized by Italy: PHOTOS

The seizure of assets comes after a russian businessman offered a $1 million bounty for vladimir putin's arrest.

Teen tracks Russian oligarchs' private jets as Ukrainian conflict intensifies

Jack Sweeney discusses his tracking bot on ‘America’s Newsroom.’

European powers are banding together to seize the financial assets of Russian President Vladimir Putin's most trusted allies. 

Since Friday, Italy has gained control of $156 million in yachts and villas from Russian oligarchs to pressure the Russian president to pull out of Ukraine after invading and waging war against the country Feb. 24.

Italy has targeted Gennady Timchenko's superyacht "Lena" and Alexei Mordashov's yacht "Lady M," which is estimated to be worth $71 million. Villas in Tuscany and Como have also been seized. 

"Lena" yacht

A picture taken March 5, 2022, shows a view of the yacht "Lena" belonging to Gennady Timchenko, an oligarch close to Russian President Vladimir Putin, in the port of San Remo, Italy. | Getty Images

RUSSIA-UKRAINE: LIVE UPDATES

"Lady M" yacht

A view of the yacht "Lady M" owned by Russian oligarch Alexei Mordashov is docked at Imperia Harbor, Italy, Saturday, March 5, 2022. | AP Newsroom

A villa owned by Russian-Uzbek business magnate Alisher Usmanov was reportedly seized in Northern Sardinia, but German officials denied those reports. Usmanov also reportedly owns Beechwood House in Highgate, London, worth an estimated 48 million pounds ($63.5 million), and the Sutton Place estate in Surrey. 

The French have seized the yacht of Igor Sechin, who runs Russian energy company Rosneft. 

"Amore Vero" yacht

This photo provided March 3, 2022, by French Customs shows the yacht Amore Vero docked in the Mediterranean resort of La Ciotat. French authorities seized the yacht linked to Igor Sechin, a Putin ally who runs the Russian oil giant Rosneft. (Douane Francaise via AP / AP Newsroom)

RUSSIAN BUSINESSMAN PUTS UP $1 MILLION BOUNTY FOR ARREST OF VLADIMIR PUTIN

The Italian government intends to send a firm message by seizing the valuables of Russian oligarchs. 

William Browder, CEO and co-founder of Hermitage Capital Management, which was once the largest foreign portfolio investor in Russia, said Putin keeps all of his money with the oligarchs. 

CLICK HERE TO READ MORE ON FOX BUSINESS

In the U.K., Prime Minister Boris Johnson faces criticism for his lack of urgency to sanction the U.K.'s list of oligarchs. 

Earlier this week, Chelsea Football Club owner and Putin companion Roman Abramovich said he plans to put the soccer team up for sale. 

The Associated Press contributed to this report.

2 years after being seized, the Russian oligarch’s $580 million megayacht which is even bigger than Jeff Bezos’ Koru left Trieste and sailed for Venice. Just so that it would not escape on the high seas the 469 feet long vessel was guarded by armed ships of the Italian forces.

You may also like

Able to cruise 5000 miles on a single tank, this 247-foot-long vessel will exclusively support Jeff Bezos’ and Lauren Sanchez’s $500 million megayacht. Named after a Roman goddess it has completed its sea trials and will now be delivered to the Amazon CEO.

American video game billionaire Gabe Newell has sold his 220 feet long support vessel, Dapple. The founder of Valve Corporation had converted the vessel into a mobile hospital during the pandemic and used it to aid his superyacht.

Not a helipad or a garage for luxury cars, but this genius American scientist’s support vessel has a fully functional biology lab, a portable MRI machine, and 3D printers. Aptly named Gene Chaser, instead of socialites and celebrities, the advanced vessel hosts full-time scientists.

With the US Govt planning to seize Suleiman Kerimov’s prized $325 million megayacht Amadea. The sanctioned billionaire is trying to save his 295 feet superyacht ‘Ice’ by not letting it dock anywhere. It has been lingering off the coast of Italy for more than a week now.

Jeff Bezos’ Koru superyacht is so tall that for routine maintenance if it were to sail to the Oceanco facility in the Netherlands where it was built, a historic bridge would have to be dismantled. To avoid that and irking the locals, the $500 million vessel is being repaired in France.

Billionaire Dan Snyder’s $192 million superyacht traveled a whopping 8,357 miles in the past 12 months. The former Washington Commander’s owner possibly undertook 22 voyages on his 305 feet long vessel to explore the Mediterranean and avoid a congressional subpoena

Russian billionaire and former owner of the Brooklyn Nets has sold his 312 feet long superyacht to an anonymous billionaire for $150 million. The vessel comes with a wave generating swimming pool, a dance floor with lasers and cabins with self washing windows.

Dutch shipyard Feadship has unveiled a 229 feet long superyacht that is inspired by the Japanese cherry tree – Specifically designed for the whole family, Sakura has gorgeous spaces for interaction, entertainment, and spending quality time.

Longer than three Olympic-sized swimming pools – This megayacht concept is more like a floating city in itself – It has two movable helipads, a large garden, and a garage that can store 6 supercars.

Photos show the luxury mega yachts that belong to Russian oligarchs — some of whom have hidden their ships as the UK ramps up sanctions.

• Sanctions targeting Russian oligarchs threaten their luxury assets — including their mega yachts.
• Many countries have implemented sanctions targeting Putin and Russian oligarchs following Russia's attack on Ukraine.
• Insider compiled a photo list of some of the luxury vessels.

Russian billionaires' assets — including their megayachts — are in danger of being seized as countries continue to impose sanctions on Russian oligarchs in response to Russia's invasion of Ukraine.

US President Joe Biden announced that the US will make a substantial effort to seize Russian oligarchs' assets.

"We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets," Biden said in his State of The Union address on March 1. "We are coming for your ill-begotten gains."

Since the US is not in "armed conflict" with Russia it may be legally tricky to seize assets like yachts, Insider reported . 

"The threshold for seizing assets under sanctions is that the US has to be in armed conflict with the owner of the assets," Brian O'Toole, an economic sanctions expert, tweeted last Friday. "The idea of turning Russian corruption into Ukrainian assistance is lovely but this idea is illegal, period."

It can also be difficult to find out who the owners of these yachts are.

Offshore companies typically own the luxury vessels, but enough "public speculation" pointing to a Russian oligarch as an owner is likely "sufficient for a seizure," Insider reported . 

Many of the oligarchs moved their yachts to places where they can't be seized, such as the Maldives, which does not have an extradition treaty with the US.

Insider has compiled a list of photos with mega yachts linked to Russian oligarchs.

Galactica Super Nova

Amid sanctions and seizures targeting Russian billionaires, Galactica Super Nova — said to be linked to the CEO of Russian oil firm Lukoil — is no longer detectable via ship tracker site MarineTraffic , The Daily Beast reported Thursday. 

The superyacht — whose owner is named Vagit Alekperov — had just been in Montenegro last week, Insider reported .

Alekperov is not currently the target of any sanctions. 

The yacht is almost 230 feet long and can hold up to 12 guests and 16 crew members, according to the ship maker Heesen Yachts .

The ship also has a helicopter pad that can turn into an outdoor movie theatre, also according to the ship maker.

The Amore Vero

France seized Amore Vero, a 281-foot megayacht linked to oligarch and politician Igor Sechin, on March 3.

The yacht, Amore Vero, is estimated to have a value of $120 million . It has a swimming pool that doubles as a helicopter pad and a private deck for its owner, according to Oceana , the ship maker.

Per The Wall Street Journal , officials believe that Amore Vero is "owned by a company whose majority shareholder was Mr. Sechin," though the outlet does not provide the name of the company.

Sechin is the CEO of Rosneft, Russia's oil giant, and a former deputy prime minister. A known Putin ally , he was sanctioned by both the EU and the US before France seized his yacht last week .

Sechin was one of seven oligarchs sanctioned by the UK on Thursday. 

People in Russia have referred to Sechin as "Darth Vader" and "the scariest man on Earth," according to The Guardian .

Alisher Usmanov has been sanctioned by the EU, the US, the UK, and Switzerland. His boat remains in Germany, but the country says it hasn't seized it.

Usmanov's Dilbar is "is the largest motor yacht in the world by gross tonnage," according to Lürssen , the German ship's maker.

It's 512-foot long and weighs 15,917 tons. The ship has been docked in Germany for months undergoing a "refitting," but last week Forbes reported that it was unable to leave the dock.

Germany, however, has denied that it formally seized Dilbar.

Forbes said that "the German federal customs agency is the 'responsible enforcement authority' and would have to issue an export waiver for the yacht to leave, and that 'no yacht leaves port that is not allowed to do so.'" 

Still, multiple outlets reported that Usmanov has fired the crew on the Dilbar.

The Uzbekistan-born oligarch is a supporter of Putin. 

"I am proud that I know Putin, and the fact that everybody does not like him is not Putin's problem," Usmanov told Forbes  in a 2010 interview. 

Suleyman Kerimov was sanctioned by the US, and his son, Said Kerimov, owns ICE. The superyacht is worth is an estimated $170 million.

The Kerimov family owns the majority of Polyus Gold, Russia's biggest gold producer .

ICE was dubbed "Superyacht of the Year" in 2006 at the World Super Yacht Awards, according to Boat International . It is approximately 300 feet and has its own resident helicopter, according to Club Yacht .

Quantum Blue

Sergey Galitsky's ship, Quantum Blue, has an estimated value of $250 million and is last known to be docked in Monaco.

Galitsky is the founder of one of Russia's largest supermarket chains, Magnit.

His name is not currently on the list of sanctioned Russian oligarchs,

Though he also is not the target of any current sanctions, Vladimir Potanin's superyacht, Nirvana, is one of at least four ships docked in the Maldives .

Potanin is the Former First Deputy Prime Minister of Russia and was a longtime trustee for the Guggenheim museum before stepping down on March 2, according to The New York Times . 

Nirvana is not Potanin's only superyacht, he also owns another named Barbara, according to Fortune .

Alexander Abramov's Titan, Alexei Mordashovis' Nord, and Oleg Deripaska's Clio are also located in the Maldives.

At 533 feet long, Roman Abramovich's Eclipse was the largest yacht on the globe until 2013 when the 590-foot Azzam overthrew it. 

Abramovich, once Russia's richest man , is the departing owner of Chelsea FC soccer club. He was sanctioned by the UK on Thursday along with six other oligarchs, Insider reported .

The luxury boat has a host of amenities, including two helicopter pads, a missile detection system, and a swimming pool more than 50 feet long. It also has space for up to 36 guests and 70 crew members, according to Yacht Harbour .

Insider previously reported that it is currently docked in the Caribbean .

Another yacht named Solaris is linked to Abramovich. The vessel, worth approximately $600 million, left Spain Tuesday after having been under repair since late 2021, Insider reported.

Solaris is 460 feet and can host a total of 36 guests, according to SuperYachtFan .

Tango, owned by the US-sanctioned Viktor Vekselberg, is currently located in Palma, Spain.

Tango can host up to 14 people and is 254 feet long, won the 2012 World Superyacht Awards, and has an estimated worth of $120 million, according to SuperYachtFan .

Vekselberg is a Ukrainian-born businessman who owns Renova, a Russian conglomerate, according to The Guardian .

He was one of nearly two dozen Russian oligarchs and officials that the US sanctioned on Friday.

The US Treasury Department claims that he has close ties with Putin, and has announced that assets such as his $90 million jet and his superyacht Tango have been frozen, Insider reported .

Graceful, a yacht reported to belong to Russian President Vladimir Putin, left Germany just before his invasion of Ukraine, Insider reported in early February.

—Manu Gómez (@GDarkconrad) February 9, 2022

Graceful is 270 feet long and has a saloon, gym, spa, library, and an indoor pool nearly 50 feet long that doubles as a dance floor.

Scheherazade

A mystery yacht remains untouched as the owner remains a mystery.

The owner of the 459-foot Scheherazade is suspected to be a Russian billionaire, though the owner was never publically identified, The New York Times reported .

Many people believe it belongs to Vladimir Putin, nicknaming the vessel "Putin's Yacht."

SuperYachtFan estimates the ship's value sits at $700 million.

Stella Maris

Stella Maris is linked to oil and gas tycoon Rashid Sardarov. It was last seen in Nice, France, according to The Washington Post .

The luxury vessel is priced at $75 million, is 237 feet long, and can hold up to 14 guests, per SuperYachtFan .

Sardarov is not being sanctioned. 

Sailing Yacht A

Sailing Yacht A is believed to belong to Andrey Melnichenko. The boat was seized by Spanish officials Saturday, Reuters reported .

The ship is more than 465 feet long and can hold up to 20 guests, according to SuperYachtFan . The website says that Sailing Yacht A also features an underwater observation area and has a value of more than $500 million.

Melnichenko is an EU-sanctioned Russian billionaire who works in coal and fertilizers, according to Forbes . The magazine also reported that he owns a second yacht, Motor Yacht A, which is similar to a submarine. 

Oligarch Gennady Timchenko's superyacht "Lena" was seized in the port of Sanremo, Italy on March 5, Reuters reported.

Timchenko is the owner of a private investment group, Volga Group and a shareholder of Bank Rossiya. The oligarch has been sanctioned by the EU, which describes him as a "long-time acquaintance of the President of the Russian Federation Vladimir Putin."

Timchenko was also sanctioned by the UK on February 22. 

The superyacht is valued at around 50 million euros ($54 million), Reuters reported. It has fold-down terraces, as well as an "owner's suite" which opens out onto the sea with "gull-wing doors," according to its manufacturer, Sanlorenzo.

Italian authorities also seized a $71 million super-yacht belonging to one of the wealthiest men in Russia , Alexei Mordashov. 

The 215-ft "Lady M" superyacht was seized in the Port of Imperia, northern Italy, a source confirmed to Reuters.

The yacht can accommodate up to six guests on and also has accommodation for four crew members, per the Superyacht Times .

The oligarch, who is the chairman of steel mining company, Severstal, has also been sanctioned by the EU, which says Mordashov is "benefiting from his links with Russian decision-makers." Mordashov has insisted he has "absolutely nothing to do" with Russia's attack on Ukraine. 

The Oligarch moved $1.3 billion worth of shares in travel company, TUI, to an offshore tax haven on the day he was hit by sanctions, Insider's Huileng Tan previously reported. 

He was also added to the UK government's sanctions list on March 15.

Some superyachts belonging to Russian billionaires are currently seeking refuge in the Maldives, including a yacht owned by billionaire Oleg Deripaska, Reuters reported.

The billionaire, who is also the founder of one of Russia's largest industrial groups, Basic Element, was added to the UK's sanctions list on March 10.

Also built by Lürssen, the superyacht - which is around 238 feet long - can accommodate 18 guests in nine cabins, per Superyacht Fan.

The superyacht Valerie - worth $140 million - was seized in Barcelona on Monday, Spanish Prime Minister, Pedro Sanchez, said on La Sexta television, per Reuters.  

Sanchez did not confirm the owner of the yacht, but two sources confirmed to Reuters that it belonged to Sergei Chemezov, who is said to be a close ally of Putin.

The oligarch, who was previously a KGB spy with Putin in the former Soviet Union, recently said that Russia would emerge victorious from Western sanctions, Reuters previously reported . 

Chemezov, who is the CEO of Russian defense conglomerate Rostec was added to the US sanctions list on March 3. 

His yacht is 279 feet long and can accommodate 17 guests in eight suites, per Superyacht Fan.

Crescent, most likely owned by Igor Sechin but also rumored to belong to Putin, was the third yacht Spain seized as the West ramps up sanctions, The Washington Post reported Thursday.

The superyacht is 443-feet long and costs an estimated $600 million, according to  SuperyachtFan, which also says the vessel hosts a retractable helicopter hangar and a large pool with a glass bottom.

Lady Anastasia

Lady Anastasia is owned by Russian oligarch Alexander Mikheyev but was seized by Spain on Tuesday, according to Reuters . 

The boat is almost 160 feet long and can hold up to 10 guests, according to Yacht Harbour .

Mikheyev, who was sanctioned by the EU, is the head of a helicopters division under Rostec, New York Mag reported .

• Main content

Italy's multimillion-dollar upkeep of Russian oligarchs' yachts ignites debate

S even yachts owned by Russian oligarchs remain stationed in Italian ports, a direct consequence of assets being frozen amid the conflict in Ukraine. These yachts have not been confiscated and incur significant maintenance expenses. The Italian government has footed a bill of approximately $34.5 million for these costs.

The presence of Russian yachts in Italian ports symbolizes the broader impact of European sanctions against Russia, introduced following the onset of the Ukraine war.

The cost of holding and maintaining these luxury vessels is substantial, burdening the Italian state treasury with million-dollar expenses.

The Italian government has expended around €32 million ($34.5 million) over two years on the upkeep of Russian oligarchs' seized yachts, covering all maintenance costs, from docking fees to routine upkeep, for a total of seven vessels, as reported by the Nexta agency on the X platform.

Italian government covers maintenance costs for confiscated Russian yachts

Maintaining each luxury yacht incurs significant expenses, with the Italian government bearing the full cost. Docking fees range from $13,000 in winter to $32,300 in summer. Moreover, the monthly cost of port-supplied electricity averages $10,800, alongside additional expenses for insurance and fuel. Furthermore, yacht engines require an inspection and maintenance service every 12 months, which can cost up to $54,000 at a time.

Legal restrictions prevent sale and confiscation

The Italian government has expressed an interest in officially confiscating and reselling the yachts of Russian oligarchs. However, legally, these boats remain under the ownership of their original owners, making such actions unfeasible.

"This situation represents a temporary freezing of assets, not a confiscation. Any permanent seizing would face legal challenges as it might infringe upon basic human rights, including the right to property. Arbitrary confiscation by the state is not permissible," stated Andrea Saccucci, legal defender of the Russian oligarchs.

The Kremlin has been forthright in its response, threatening legal action against any attempts to seize Russian nationals' assets. This situation places Italy and other European nations in a difficult quandary.

Massacre of soldiers ignites controversy on Russian telegram

Ex-Latvian president underscores NATO's role in deterring Russian aggression

Ukrainian drones strike Russian oil refineries, hitting critical infrastructure

• Destinations

World’s most expensive sailing superyacht sits abandoned

The world’s most expensive superyacht, owned by a Russian oligarch, has remained stranded in the sea for almost two years.

New rules for Aussies travelling to Europe

One word gets Aussies attention in Europe

‘Don’t come’: Tourists told to stay away

A Russian oligarch’s $860 million superyacht, seized by Italian police, has sat abandoned in the sea for almost two years.

The boat was nabbed in March 2022 as part of ongoing EU sanctions against Russia amid Vladimir Putin’s failing war in Ukraine.

It has remained stranded in the Trieste Gulf, off the coast of Italy, ever since, The Sun reports.

The superyacht is owned by Russian tycoon and Putin crony Andrey Melnichenko, one of a number of businessmen targeted under war sanctions.

Dubbed Sailing Yacht A, it is among the largest in the world – measuring 100 metres high and 143 metres long.

It underwent testing in Gibraltar in 2017 before it was handed over to Melnichenko.

The boat’s mast is bigger than Big Ben’s Tower by 10 feet and it’s even deemed a medium-sized cargo ship.

It has eight decks, a helicopter pad, an underwater observation room and a hybrid diesel-electric propulsion system.

Run by a crew of 54, the yacht also has a digital control system that allows them to raise and lowers the sails and anchor just by swiping.

And it has the power to dash across waves at speeds of up to 20.8 knots.

The unconventional yacht was built by German Naval Yards, in Nobiskrug.

Now it sits impounded in a dry dock with a constant crew of 20 and Italian media reports that the government has spent over £6 million ($11.5 million) keeping it there.

Police cars with flashing lights reportedly swarmed the yacht and boarded it before impounding the vessel in 2022.

Melnichenko owns fertiliser company EuroChem Group and SUEK, a coal company.

He made headlines for his impressive ships when he moored his other £240 million masterpiece, “Motor Yacht A”, on London’s River Thames near Tower Bridge in 2017.

The tycoon is one of the richest men in the world and was one of 37 businessmen who met with Putin after the invasion of Ukraine to discuss potential sanctions.

An EU document described him as belonging “to the most influential circle of Russian businesspeople with close connections to the Russian government”, according to The Guardian .

It went on: “He is therefore involved in economic sectors providing a substantial source of revenue to the government of the Russian Federation, which is responsible for the annexation of Crimea and the destabilisation of Ukraine.”

Both companies said Melnichenko had resigned just days before his yacht was seized in 2022.

A spokesperson for Melnichenko at the time said the businessman had “no relation to the tragic events in Ukraine. He has no political affiliations”.

“There is no justification whatsoever for placing him on the EU sanctions list,” Alex Andreev said.

More Coverage

“We will be disputing these baseless and unjustified sanctions, and believe that the rule of law and common sense will prevail.”

Italian police have apparently seized over $230 million worth of luxury boats and homes owned by Russian billionaires.

This article originally appeared on The Sun and was reproduced with permission

Add your comment to this story

To join the conversation, please log in. Don't have an account? Register

Join the conversation, you are commenting as Logout

Going on a trip to Europe? It’s not so easy anymore, with new travel rules coming in for all Aussies. Here’s what you need to know.

Aussies are convinced they are treated better when locals find out an important thing about them when travelling in Europe.

It’s a location loved by A-listers including Katy Perry and Leonardo DiCaprio – but the town wants tourists to stay away if they plan on coming in summer.

• Skip to main content
• Keyboard shortcuts for audio player

Trying to sell Russian oligarch's seized luxury assets is running into trouble

Jackie Northam

After Western governments seized millions in assets from Russian oligarchs, a question remains: What should be done with their yachts?

Copyright © 2024 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Advertisement

Countries try to sell yachts seized from Russian oligarchs

Copy the code below to embed the wbur audio player on your site.

<iframe width="100%" height="124" scrolling="no" frameborder="no" src="https://player.wbur.org/hereandnow/2024/08/21/countries-try-to-sell-yachts-seized-from-russian-oligarchs"></iframe>

• Jackie Northam, NPR

After Western governments seized millions in assets from Russian oligarchs, a question remains: What should be done with their yachts?

NPR’s Jackie Northam reports.

This segment aired on August 21, 2024.

More from Here & Now

Russian oligarch's yacht costs U.S. taxpayers close to $1 million a month

A mega-yacht seized by U.S. authorities from a Russian oligarch is costing the government nearly $1 million a month to maintain, according to new court filings.

The U.S. Department of Justice is seeking permission to sell a 348-foot yacht called Amadea, which it seized in 2022, alleging that it was owned by sanctioned Russian billionaire Suleiman Kerimov. The government said it wants to sell the $230 million yacht due to the “excessive costs” of maintenance and crew, which it said could total $922,000 a month.

“It is excessive for taxpayers to pay nearly a million dollars per month to maintain the Amadea when these expenses could be reduced to zero through [a] sale,” according to a court filing by U.S. prosecutors on Friday.

The monthly charges for Amadea, which is now docked in San Diego, California, include $600,000 per month in running costs: $360,000 for the crew; $75,000 for fuel; and $165,000 for maintenance, waste removal, food and other expenses. They also include $144,000 in monthly pro-rata insurance costs and special charges including dry-docking fees, at $178,000, bringing the total to $922,000, according to the filings.

The battle over Amadea and the costs to the government highlight the financial and legal challenges of seizing and selling assets owned by Russian oligarchs after the country’s invasion of Ukraine. European Commission President Ursula von der Leyen said last week that the European Union should use profits from more than $200 billion of frozen Russian assets to fund Ukraine’s war effort.

Her comments echoed government calls in the spring of 2022 to freeze the yachts, private jets and mansions of Russian billionaires in hopes of putting pressure on Russian President Vladimir Putin and raising money for the war effort.

Yet, nearly two years later, the legal process for proving ownership of the Russian assets and selling them has proven to be far more time-consuming and costly. In London, Russian billionaire Eugene Shvidler has waged a court battle over his private jets that were impounded, and Sergei Naumenko has been appealing the detention of his superyacht Phi.

The battle over Amadea began in April 2022, when it was seized in Fiji at the request of the U.S. government, according to the court filings.

Though the U.S. alleges that the yacht is owned by Kerimov, who made his fortune in mining, attorneys for Eduard Khudainatov, an ex-Rosneft CEO who has not been sanctioned, say he owns the yacht, and have sought to take back possession of the vessel.

In court filings, Khudainatov’s attorneys have objected to the U.S. government’s efforts to sell the yacht, saying a rushed sale could lead to a distressed sale price and that the maintenance costs are minor relative to the potential sale value.

Khudainatov’s attorneys refuse to pay the ongoing maintenance costs as long as the government pursues a sale and forfeiture. However, they say their client will reimburse the U.S. government for the more than $20 million already spent to maintain the yacht if it’s returned to its proper owner.

In court papers, the government says Kerimov disguised his ownership of Amadea through a series of shell companies and other owners. They say emails between crew members show Kerimov “was the beneficial owner of the yacht, irrespective of the titleholder of the vessel.”

The emails show that Kerimov and his family ordered several interior improvements of the yacht, including a new pizza oven and spa, and that between 2021 and 2022, when the boat was seized, “there were no guest trips on the Amadea that did not include either Kerimov or his family members,” according to the court filings.

The government also says Kerimov has been trying to sell Amadea for years, so a sale would be in keeping with his intent.

“This is not a situation in which a court would be ordering sale of a precious heirloom that a claimant desperately wishes to keep for sentimental reasons,” the government said in filings.

Even if Amadea were sold quickly, the proceeds wouldn’t automatically go to the government. Under law, the money would be held while Khudainatov and the government continue their battle in court over the ownership and forfeiture.

More from CNBC:

• Powell reinforces position that the Fed is not ready to start cutting interest rates
• Bill Gates-backed startup confident it can unearth more buried treasure after a historic copper find
• OpenAI shares Elon Musk emails urging startup to raise $1 billion, see Tesla as a cash cow

Trying to sell Russian oligarch's seized luxury assets is running into trouble

STEVE INSKEEP, HOST:

We have the aftermath of a policy that seemed like a good idea at the time. Shortly after Russia invaded Ukraine a couple of years ago, countries began seizing luxury assets belonging to Russian oligarchs. Now governments are trying to figure out what to do with them, NPR's Jackie Northam reports.

JACKIE NORTHAM, BYLINE: In late June 2022, a massive luxury yacht docked in San Diego Bay. The Justice Department had seized the 348-foot vessel called the Amadea in Fiji a few weeks earlier, saying it was owned by a sanctioned Russian oligarch named Suleiman Kerimov. It was one of more than two dozen yachts seized by various countries shortly after Russia invaded Ukraine, says Tom Keatinge, a financial crimes expert at the Royal United Services Institute in London.

TOM KEATINGE: We're talking about yachts that cost several hundred million dollar. They have helipads, discos, swimming pools, all the toys onboard that any aspiring oligarch would once be able to play within the Caribbean or the Mediterranean.

NORTHAM: Keatinge says priceless works of art and villas in the south of France and elsewhere were also seized in a number of Western countries. They were high-profile targets and brought a lot of attention to the war unfolding in Ukraine.

KEATINGE: The focus that sanctioning oligarchs brought was very valuable. And don't get me wrong. I'm not against sanctioning oligarchs, but the narrative around sanctioning oligarchs, frankly, has never been made clear in my mind.

NORTHAM: One of the ideas behind seizing the luxury assets was it would push the oligarchs to use their influence on Russian President Vladimir Putin to end the war in Ukraine. But Nate Sibley, who heads up the Kleptocracy Initiative with the Hudson Institute, says relying on oligarchs to influence Putin was misguided.

NATE SIBLEY: They haven't had any real influence within the Kremlin for, you know, a good 10 years now, probably.

NORTHAM: The problem now is what to do with the yachts and other seized assets. In the U.S., the Justice Department tried to move the ownership of the Amadea, the yacht it seized, through a legal procedure called civil forfeiture, sell it and send the proceeds to Ukraine. But it's been tied up in court, largely because there's debate over who the real owner is.

MAIA NIKOLADZE: Russian oligarchs have quite an experience in creating complex ownership structures and disguising their connection to property.

NORTHAM: Maia Nikoladze is with the Atlantic Council's Economic StateCraft Initiative, which is charting the efficacy of Russian sanctions. She says similar challenges over ownership are happening in other countries.

NIKOLADZE: Whenever there is a case against a Russian oligarch, there is a close associate or a family member who comes forward and claims that the yacht actually belongs to them. And then it becomes very difficult to prove that it actually belongs to the sanctioned oligarch.

NORTHAM: While the court challenges play out, Keatinge says the sea's luxury assets have to be kept in working order.

KEATINGE: These are now the responsibility of governments to maintain. And maintaining a yacht, which is sitting in salt water and is being blasted by gales, is expensive.

NORTHAM: Nikoladze says maintenance for the Amadea in San Diego Port is costing U.S. taxpayers roughly $10 million a year.

NIKOLADZE: It's paying for the crew that operates the superyachts. So it's insurance as well as maintenance. And those costs - there's just a crew.

NORTHAM: European governments are also forking out millions for maintenance. Even if they could sell one of the yachts or villas, the Hudson Institute's Sibley asks, who would buy it?

SIBLEY: A, the Oligarch will be hounding you for the rest of your life with lawsuits to try and get it back. And B, you know, many of these oligarchs are deeply involved in organized crime. There's a sort of personal safety element to sort of taking on ownership of something that was, in the oligarch's view, unfairly seized from them.

NORTHAM: For the past couple of years, sanctions have focused more on Russia's financial institutions, technology and its military complex. But like the yachts and villas, it's done little to stop Putin's war in Ukraine. Jackie Northam, NPR News.

(SOUNDBITE OF MUSIC) Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.