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Watch out TCSPs who envelop Superyachts and other luxury assets after the seizure of x3 Superyachts as Europe cracks down on oligarchs

03/03/2022

Two superyachts seized as Europe cracked down on oligarchs. It comes after Germany took a luxury yacht owned by another oligarch

France

  1. French authorities say they have seized a yacht linked to Igor Sechin, an ally of Russian President Vladimir Putin, as part of European Union sanctions over Russia’s invasion of Ukraine.
  2. The French Finance Ministry said in a statement on Thursday that customs authorities carried out an inspection of the yacht Amore Vero in the Mediterranean resort of La Ciotat.
  3. The boat arrived in La Ciotat on January 3 for repairs and was slated to stay until April 1.
  4. When French customs officers arrived to inspect the yacht, its crew was preparing an urgent departure even though the repair work wasn’t finished, the statement said.
  5. The boat was seized to prevent its departure.
  6. It says the boat is owned by a company that lists Mr Sechin as its primary shareholder. Mr Sechin runs Russian oil giant Rosneft.

Germany

  1. It comes after German authorities seized a $600 million luxury yacht owned by Russian oligarch Alisher Usmanov who has been hit with EU sanctions over Russia’s invasion of
  2. According to the US business magazine Forbes, the 512-foot yacht, Dilbar, was taken in the northern port of Hamburg.
  3. Mr Usmanov was a significant shareholder in Arsenal until 2018 and owned two properties in the UK, including a mansion in Highgate, which he bought for £48million in 2008.
  4. On Wednesday, Everton Football Club suspended all sponsorship deals with Russian companies associated with Mr Usmanov, who has close links with the club’s majority shareholder Farhad Moshiri.
  5. The EU included the Uzbekistan-born billionaire on a list of 26 individuals with links to the Russian Government who will now face sanctions following Vladimir Putin’s assault on  Ukraine

UK

  1. But so far, Mr Usmanov has not been added to a list of nine Russian individuals targeted by the British Government for having close ties to Mr Putin and the Kremlin, despite his business and property interests in the UK.
  2. And the Labour MP Chris Bryant, who has been an outspoken critic of the Government’s failure to widen its sanctions list along with other western governments, tweeted:

“I don’t understand why we haven’t seized a single Putin oligarch yacht, palace or serious asset yet. Unlike our European neighbours.”

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