PARIS — France and Germany have seized two superyachts owned by Russian oligarchs, French authorities and Forbes magazine said, hitting Russia’s super-rich under sanctions imposed on Moscow over its invasion of Ukraine.
At least five other superyachts owned by Russian billionaires are anchored or cruising in the Maldives, an Indian Ocean island nation, ship tracking data showed.
The yachts arrived in the Maldives after the West imposed sanctions on Russia. Washington, the European Union and others have said they will target oligarchs who have amassed fortunes and political influence under Russian President Vladmir Putin.
“Thanks to the French customs officers who are enforcing the European Union’s sanctions against those close to the Russian government,” Finance Minister Bruno Le Maire said on Thursday after French customs seized the 88-metre “Amore Vero” (True Love).
The yacht had been about to flee, he said.
It was impounded in the French Riviera port of La Ciotat and belongs to a company whose main shareholder is Rosneft chief Igor Sechin, a close ally of Putin, the finance ministry said.
In Germany, a nearly US$600 million luxury yacht owned by Russian billionaire Alisher Usmanov was seized in the northern port of Hamburg, Forbes reported.
And in another sign of Russian oligarchs feeling the sanctions’ heat, billionaire Roman Abramovich said on Wednesday he would sell the Chelsea Football Club and promised to donate money from the sale to help victims of the war in Ukraine.
The United States is preparing a sanctions package targeting more Russian oligarchs as well as their companies and assets, two sources said on Wednesday, after U.S. President Joe Biden said the United States would work to seize the yachts, luxury apartments and private jets of wealthy Russians.
The EU, the United States, Canada and Britain are pooling efforts to examine how oligarchs could find ways to bypass the sanctions and also nail down the role of trust companies in holding assets, an EU official said on Thursday.
This task force will aim to close loopholes as they become apparent, the official said.
The impact of the sanctions was being widely felt.
“There is a significant chilling effect on any new business with Russia,” said Matt Townsend, a sanctions partner at law firm Allen & Overy.
“People are concerned about credit risk exposure but are also worried about what’s coming next. Everyone’s eyes are on the next wave of significant sanctions.”
