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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 Streaming to discuss her reporting.

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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

Wednesday, April 10, 2024 4:48 pm (Paris)

• Les Décodeurs
• One year of war in Ukraine

One villa seized and multiple investigations opened: French sanctions against Russian oligarchs begin to bear fruit

Since the invasion of Ukraine, the French justice system has opened at least 17 criminal investigations aimed at confiscating Russian elites' assets.

By  Abdelhak El Idrissi

Time to 7 min.

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It is the first battle won in the long and delicate economic and judicial war waged by the West against the Russian regime: The French justice system has obtained the first criminal seizure of the villa of a Russian oligarch placed under sanctions. Located in Saint-Jean-Cap-Ferrat (southeastern France), this luxurious mansion estimated to be worth €23 million was seized in October 2022 at the request of the magistrates of the National Jurisdiction in Charge of the Fight Against Organized Crime (JUNALCO) of the Paris prosecutor's office, according to Le Monde 's findings. It is suspected of belonging to Viktor Rashnikov, the boss of one of the largest steel producers in Russia.

Three properties officially linked to Rashnikov had already been administratively frozen on the French Riviera and in Paris since he was placed under sanctions on March 15, 2022. However, his villa in Saint-Jean-Cap Ferrat had passed under the radar, since it was "not declared to the tax authorities as being his property," according to a source familiar with the case. It belonged to a Swiss company, itself owned by a Panamanian structure. France's financial intelligence unit TRACFIN was notified of the sale of the villa, which occurred shortly after the Russian invasion of Ukraine. The service attached to the French ministry of finance realized that, behind the complex financial arrangements, the villa belonged to a Russian citizen suspected of being Rashnikov's frontman and that the new owner was also Russian. TRACFIN immediately blocked the money from the sale at the notary's office – €17 million after the deduction for duties and taxes – before taking the matter to court.

The JUNALCO magistrates, who took over this case, believe that the great complexity of this "suspicious operation" was intended "to conceal the funds' origin and the actual beneficiary of the operation." The villa and the proceeds of the sale are now in the hands of the Ministry of Justice's Agency for the Management and Recovery of Seized and Confiscated Assets (AGRASC). In case of conviction by a court, they could be permanently confiscated by the government.

17 investigations opened

The Rashnikov case is not an isolated one. According to Le Monde 's findings, at least 17 investigations have been opened by the French justice system against oligarchs for suspected money laundering since the invasion of Ukraine. Three have been opened since the beginning of 2023, which is proof that this investigative work is ongoing.

The national financial prosecutor's office has confirmed that it has opened two proceedings for tax fraud laundering following allegations by TRACFIN, one of which, according to our sources, concerns Kirill Pisarev. Absent from the European sanctions lists, this businessman is the owner of an important real estate portfolio on the French Riviera, in Paris and in the Alps.

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Where do you take your $100 million megayacht to make sure the U.S. can’t seize it, and other questions Russian oligarchs are asking themselves

Russian oligarchs are worried the increasing sanctions imposed by the West are coming for their superyachts, and they’re scrambling to stash them somewhere safe.

The U.S. is attempting to identify and crack down on sanctioned Russian companies and oligarchs after Russia invaded Ukraine last week, writing in a tweet on Feb. 26 that it had assembled a multilateral transatlantic task force to “identify, hunt down, and freeze the assets.”

At least four superyachts owned by Russian business leaders have set sail for Montenegro and the Maldives in recent days, according to data from Marine Traffic , and first reported by CNBC . Neither country has an extradition treaty with the U.S, making them relatively safe spots to hide a megayacht. 

One of the yachts seen floating near the shore of the Maldives, off the coast of India, on Marine Traffic is the Ocean Victory —the 12 th -longest yacht in the world at 140 meters, owned by Russian iron and steel magnate Viktor Rashnikov. The ship is moored a couple miles from the 88.5-meter-long Nirvana yacht, owned by Vladimir Potanin, the wealthiest man in Russia . The two boats will be joined by Russian industrialist Oleg Deripaska’s 72.6 meter yacht Clio , which is expected to arrive from Sri Lanka in the next couple of days, according to Marine Traffic.  

Meanwhile, over in Europe, Vagit Alekperov, president and chairman of Russia energy company Lukoil , has also sent his yacht, Galactica Super Nova , from Barcelona to Montenegro, a small country next to Albania. Alekperov has fair reason to worry about his 70-meter yacht. Since the sanctions began, he saw the sharpest decline in his net worth compared to other Russian billionaires, which fell by $6.2 billion in one day to $13 billion, according to the Bloomberg Billionaires Index .

What sanctions are they facing ?

Sanctions against Russia’s high-net-worth individuals began last Friday, when the U.S. government sanctioned five Russians who are members of elite families by barring them from accessing any property or engaging in any transactions in the U.S.

“Elites close to Putin continue to leverage their proximity to the Russian president to pillage the Russian state, enrich themselves, and elevate their family members into some of the highest positions of power in the country at the expense of the Russian people,” the U.S. Treasury Department said in a statement .

The U.K. followed suit and froze the assets of 100 individuals the following day, and also capped the amount Russians can deposit into U.K. bank accounts.

The EU put 26 Russians on its sanctions list on Monday, including some of Vladimir Putin’s closest confidants. The sanctioned billionaires will have their assets and funds frozen and they will not be allowed to enter or transit through the EU. 

It is unclear who will be a part of the U.S.’s multilateral transatlantic task force.

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After the fall of the Soviet Union in 1991, some Russian oligarchs were able to amass huge fortunes ranking among the richest men in the world.

According to Forbes , “Russia currently has 77 billionaires despite the country’s economic crisis.”

Over the past two decades these Russian oligarchs have been instrumental in the development of the yachting industry, setting a new benchmark for what a mega yacht is all about.

In 1990 the superyacht world was mainly dominated by Middle Eastern royal families and Greek tycoons like Stavros Niarcho (he commissioned Atlantis and Atlantis II). The 147-meter Prince Abdulaziz, owned by the Saudi royal family, was once the largest yacht in the world.

In the late 1990s and early 2000s, the mega-yacht industry began to shift into the hands of the Russian mega-rich and American tech billionaires. From 1992 to 2005, 20 super yachts over 80 meters in length were delivered, surpassing the 19 mega yachts distributed between 1865 and 1992.

These new mega yachts include Paul Allen’s famous Octopus, David Geffen’s Rising Sun and Boris Berezovsky’s Radiant. Also becoming very famous was Roman Abramovich’s super fleet, which consisted of the yachts Sussurro, Ecstasea, Le Grand Bleu, Luna, Pelorus and Eclipse.

The financial crisis of 2008 hit the yachting industry hard, especially the sales of small and medium sized boats.

When many thought the mega yacht world would also collapse, it continued its exponential growth. Between 2008 and 2016, another 48 mega yachts have been built, doubling the number of yachts over 80 meters in length delivered in previous decades.

Even larger private ships began to be built, such as the 162.5-meter Eclipse delivered to Abramovich in 2010. This growth in uncertain times was due to the proliferation of Russian oligarchs.

Serene was the first ship built by Ficantieri and was ordered by Yuri Sheffler before being sold to a Middle Eastern buyer in 2015. In 2008, the year of the economic downturn, Alisher Usmanov took delivery of the 110-meter Dilbar yacht.

Afterwards, many thought that the mega yacht industry would finally collapse with Russia’s economic crisis. However, the demand for these huge vessels did not wane. In 2014, the 104-meter Quantum Blue was delivered to Sergey Galitskiy and Viktor Rashnikov bought the 140-meter Ocean Victory.

In the summer of 2016 a new Dilbar, now speculated to be the world’s largest yacht in sheer tonnage, was provided to Usmanov. As for Abramovich’s marina, it is now distributed among several Russian owners after the Chelsea FC owner sold some of his toys.

The mega yacht industry continues to grow, and we remain hopeful that we could soon witness a 200-meter yacht.

Here are some of the most advanced and industry-leading yachts that have been commissioned by Russian oligarchs in the last two decades.

Eclipse (162.5 meters) – Roman Abramovich

The 162.5-meter yacht was built by Blohm & Voss in 2010 and held the title of the world’s largest yacht until 2013, when the 180-meter Azzam took the throne.

Although full details of the yacht were not disclosed, it is known that her interior features designs by London-based Terence Disdale Design.

It is speculated that the Eclipse has a military-grade anti-missile system, is armored, and even the windows are bulletproof.

It has three helipads, a private theater and a gymnasium.

Dilbar (156 meters) – Alisher Usmanov

The world’s largest yacht by volume, the 156-meter Dilbar was delivered to Alisher Usmanov in May 2016.

Lurssen maintained total confidentiality regarding the mega yacht’s features, but we know that the exterior design is authored by Espen Oeino and the interiors by Andrew Winch.

It is also known that the vessel has a steel hull and an aluminum superstructure.

The Russian oligarch has another Lurssen superyacht, the 110-meter Ona, which previously had the name Dilbar (in its first version).

Ocean Victory (140 meters) – Viktor Rashnikov

Delivered by Fincantieri in 2014, Ocean Victory was designed by Espen Oeino.

Owned by Viktor Rashnikov, the vessel accommodates 36 guests, has 6 swimming pools spanning 7 decks, a 14-meter speedboat, two helipads and a spacious spa.

A (119 meters) – Andrey Melnichenko

M/Y A, owned by Andrey Melnichenko, is now for sale. She was built by Blohm & Voss in 2008.

Designed by Philippe Starck she is capable of accommodating 14 guests in 7 luxury staterooms, and also has space for a crew of 42.

Melnichenko’s second super yacht is currently under construction in Germany.

It is a 142.8 meter vessel named S/Y A. According to the Daily Mail this ship is being built at a cost of $450 million (€400 million).

Madame Gu (99 meters) – Andrei Skoch

According to Forbes Russia, the 99-meter super yacht belongs to Andrei Skoch.

Madame Gu was built by Feadship in 2015 and delivered after four years of construction.

Andrew Winch is responsible for the exterior design and De Voogt is responsible for the naval architecture. She accommodates 12 guests in six cabins.

The crew quarters consist of 18 cabins for 36 members.

This super yacht has 3,600kW MTU engines that provide a top speed of 24 knots and a cruising speed of 22 knots.

Palladium (95.15 meters) – Mikhail Prokhorov

With an original design by Michael Leach, the Palladium belongs to Mikhail Prokhorov.

This 95.15 meter yacht was built by Blohm & Voss in 2010.

It has a steel hull and aluminum superstructure.

Nirvana (88.5 meters) – Vladimir Potanin

Built by Oceanco in 2012, Nirvana was the star of the Monaco Yacht Show due to its revolutionary features.

Owned by Vladimir Potanin, the yacht features a jungle-themed interior design. It also houses two swimming pools, a spa and ample lounging areas.

Designed by Sam Sorgiovanni, this vessel has a transpacific range and a top speed of 19.5 knots. Nirvana came to be for sale at 199 million euros ($223 million), but the sale never happened.

Could it be that Vladimir did not want to share this yacht with his ex-wife and that is why it disappeared after 30 years of marriage?

Frequently Asked Questions

• What is the significance of Russian oligarchs in the mega yacht industry? Russian oligarchs have played a significant role in the development and growth of the mega yacht industry. They have amassed huge fortunes after the fall of the Soviet Union, making them some of the richest individuals in the world. Their wealth and influence have led to a shift in the industry’s dominance from Middle Eastern royal families and Greek tycoons to Russian mega-rich individuals and American tech billionaires.
• How did the Russian oligarchs contribute to the growth of the mega yacht industry? The Russian oligarchs have commissioned and owned some of the most advanced and industry-leading yachts in the last two decades. They have set new benchmarks for what a mega yacht is all about. Their ownership of these luxurious vessels has attracted attention and further investments in the industry.
• Who are some notable Russian oligarchs and their yachts? – Roman Abramovich , a prominent Russian oligarch, owns the 162.5-meter yacht called Eclipse. It was built by Blohm & Voss in 2010 and was the world’s largest yacht at the time. – Alisher Usmanov owns the 156-meter yacht named Dilbar, which is the world’s largest yacht by volume. It was delivered in May 2016. – Viktor Rashnikov owns the Ocean Victory, a 140-meter yacht delivered by Fincantieri in 2014. – Andrey Melnichenko owns the M/Y A, a 119-meter yacht built by Blohm & Voss in 2008. He also has a 142.8-meter vessel named S/Y A under construction. – Andrei Skoch owns the 99-meter super yacht called Madame Gu, built by Feadship in 2015. – Mikhail Prokhorov owns the Palladium, a 95.15-meter yacht built by Blohm & Voss in 2010. – Vladimir Potanin owns the Nirvana, an 88.5-meter yacht built by Oceanco in 2012.
• What are some notable features of these yachts commissioned by Russian oligarchs? – The Eclipse , owned by Roman Abramovich, is known for its size and luxurious features. It has three helipads, a private theater, a gymnasium, and a military-grade anti-missile system. – The Dilbar , owned by Alisher Usmanov, is the world’s largest yacht by volume. It has an exterior design by Espen Oeino and interiors by Andrew Winch. – The Ocean Victory , owned by Viktor Rashnikov, accommodates 36 guests and features six swimming pools, a 14-meter speedboat, two helipads, and a spacious spa. – The M/Y A , owned by Andrey Melnichenko, can accommodate 14 guests in seven luxury staterooms and has a crew capacity of 42. It was designed by Philippe Starck. – The Madame Gu , owned by Andrei Skoch, has 12 guest cabins and 18 crew cabins. It features a top speed of 24 knots and a cruising speed of 22 knots. – The Palladium , owned by Mikhail Prokhorov, has a unique design by Michael Leach. It has a steel hull and aluminum superstructure. – The Nirvana , owned by Vladimir Potanin, has a jungle-themed interior design, two swimming pools, a spa, and ample lounging areas. It has a transpacific range and a top speed of 19.5 knots.
• How has the mega yacht industry continued to grow despite economic downturns? The mega yacht industry has shown resilience and continued to grow even during uncertain times, such as the financial crisis of 2008 and Russia’s economic crisis. The demand for these luxurious vessels, especially among Russian oligarchs, has remained strong. Between 2008 and 2016, the number of mega yachts over 80 meters in length doubled, indicating sustained growth in the industry.
• What is the outlook for the mega yacht industry? The mega yacht industry is expected to continue its growth trajectory, and there is even hope for the development of 200-meter yachts in the future. The involvement of Russian oligarchs and their ongoing investments in these luxurious vessels contribute to the industry’s expansion and innovation.

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US Seizes Super Yacht ‘Tango' Owned by Oligarch With Close Ties to Putin From Spanish Port

The doj alleges in a warrant the yacht should be forfeited because billionaire viktor vekselberg violated u.s. bank fraud, money laundering and sanctions statutes, by francisco ubilla, aritz parra and michael balsamo • published april 4, 2022.

The U.S. government on Monday seized a 254-foot yacht in Spain owned by an oligarch with close ties to Russian President Vladimir Putin, a first by the Biden administration under sanctions imposed after the Kremlin's invasion of Ukraine and targeting pricey assets of Russian elites.

Spain's Civil Guard and U.S. federal agents descended on the Tango at the Marina Real in the port of Palma de Mallorca, the capital of Spain’s Balearic Islands in the Mediterranean Sea. Associated Press reporters at the scene saw police going in and out of the boat.

The U.S. Justice Department, which obtained a warrant from a federal judge in Washington, alleges the yacht should be forfeited for violating U.S. bank fraud, money laundering and sanctions statutes.

Superyachtfan.com , a specialized website that tracks the world’s largest and most exclusive recreational boats, values the 78-meter vessel, which carries the Cook Islands flag, at $120 million.

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The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close Putin ally who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents .

All of Vekselberg’s assets in the United States are frozen and American companies are barred from doing business with him and his entities. The Ukrainian-born businessman built his fortune by investing in the aluminum and oil industries in the post-Soviet era.

Prosecutors allege Vekselberg bought the Tango in 2011 and has owned it since then, though they believe he has used shell companies to try to obfuscate his ownership and to avoid financial oversight.

They contend Vekselberg and those working for him continued to make payments using U.S. banks to support and maintain the yacht, even after sanctions were imposed on him in 2018. Those payments included a stay in December 2020 at a luxury water villa resort in the Maldives and fees to moor the yacht.

It's the first U.S. seizure of an oligarch’s yacht since U.S. Attorney General Merrick Garland and U.S. Treasury Secretary Janet Yellen assembled a task force known as REPO — short for Russian Elites, Proxies and Oligarchs — as an effort to enforce sanctions after Russia invaded Ukraine in late February.

"It will not be the last,” Garland said in a statement. “Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war.”

Vekselberg has long had ties to the U.S., including a green card he once held and homes in New York and Connecticut. He was also questioned in special counsel Robert Mueller's investigation into Russian interference in the 2016 U.S. presidential election and has worked closely with his American cousin, Andrew Intrater, who heads the New York investment management firm Columbus Nova.

Vekselberg and Intrater were thrust into the spotlight in that investigation after the lawyer for adult film star Stormy Daniels released a memo that claimed $500,000 in hush money was routed through Columbus Nova to a shell company set up by Donald Trump's personal attorney, Michael Cohen. Columbus Nova denied that Vekselberg played any role in its payments to Cohen.

Vekselberg and Intrater met with Cohen at Trump Tower, one of several meetings between members of Trump's inner circle and high-level Russians during Trump's 2016 campaign and the transition before his presidency.

The 64-year-old Vekselberg founded Renova Group more than three decades ago. The group holds the largest stake in United Co. Rusal, Russia’s biggest aluminum producer, among other investments.

Vekselberg was first sanctioned by the U.S. in 2018, and again in March of this year, shortly after the invasion of Ukraine began. Vekselberg has also been sanctioned by authorities in the United Kingdom.

The yacht sails under the Cook Islands flag and is owned by a company registered in the British Virgin Islands administered by different societies in Panama, the Civil Guard said, “following a complicated financial and societal web to conceal its truthful ownership.”

Agents confiscated documents and computers inside the yacht that will be analyzed to confirm he real identity of the owner, it said.

The U.S. Justice Department has also launched a sanctions enforcement task force known as KleptoCapture, which also aims to enforce financial restrictions in the U.S. imposed on Russia and its billionaires, working with the FBI, the U.S. Treasury and other federal agencies. That task force will also target financial institutions and entities that have helped oligarchs move money to dodge sanctions.

The White House has said that many allied countries, including Germany, the United Kingdom, France, Italy and others are involved in trying to collect and share information against Russians targeted for sanctions. In his State of the Union address on March 1, President Joe Biden warned oligarchs that the U.S. and European allies would “find and seize your yachts, your luxury apartments, your private jets.”

“We are coming for your ill-begotten gains,” he said.

Monday's capture is not the first time Spanish authorities have been involved in the seizure of a Russian oligarch’s superyacht. Officials said they had seized a vessel valued at over $140 million owned by the CEO of a state-owned defense conglomerate and a close Putin ally.

French authorities have seized superyachts, including one believed to belong to Igor Sechin, a Putin ally who runs Russian oil giant Rosneft, which has been on the U.S. sanctions list since Russia annexed Crimea in 2014.

Italy has seized several yachts and other assets.

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-meter (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.

Parra reported from Madrid and Balsamo reported from Washington.

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France Freezes 31 Luxury Properties Owned By Eight Sanctioned Russian Billionaires

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Roman Abramovich's Château de la Croë in Antibes, France.

The frozen properties, worth nearly $1 billion, include Roman Abramovich’s château on the French Riviera and his estate in St. Barts.

On Wednesday, French authorities published a list of 41 properties owned by sanctioned Russian individuals that had been frozen since Russia’s invasion of Ukraine, worth nearly $620 million. Forbes found that 31 of those properties are owned by eight sanctioned Russian billionaires , including Roman Abramovich’s $250 million Château de la Croë in Antibes on the French Riviera and his $90 million estate on the luxe Caribbean island of St. Barts.

Forbes estimates the 31 billionaire-owned properties are worth $920 million—higher than the French government’s estimate—based on reporting for the World’s Billionaires List and historical purchase prices. Now that the properties have been frozen, they can’t be sold or rented—and since the sanctions on these billionaires include a travel ban, they can’t physically travel to them anymore either.

Many of these luxury homes were already known to be owned by sanctioned oligarchs, but some had not been previously reported. According to French corporate and land records, steel mogul Viktor Rashnikov owns several apartments at 24 Avenue Gabriel in central Paris, across the street from the French presidential residence at the Élysee Palace. Abramovich’s ex-wife Irina owns a property in the same building, but hers was not among the frozen properties. Another sanctioned billionaire, Alexei Kuzmichev, owns several apartments at Rue de Solférino, along the Seine and across the river from the Tuileries Gardens.

Most of the frozen properties are owned through French companies named sociétés civiles immobilières , or SCI, a type of company formed solely to own real estate. Aside from the Paris apartments, Abramovich’s estate on St. Barts and a hotel in the Alpine ski town of Méribel owned by oil & gas mogul Gennady Timchenko, all of the other luxury homes are on the French Riviera. Several, including Abramovich’s Château de la Croë, are on a stretch of coast in Antibes known as the Bay of Billionaires —an apt name, considering the number of Russian billionaires who own real estate there.

For more information on the foreign real estate owned by sanctioned Russian billionaires, read our in-depth tracker here:

Here are the French properties owned by sanctioned Russian billionaires that have been frozen:

Roman Abramovich

Estimated value of frozen properties: $340 million.

Abramovich owns the 32,000-square-foot Château de la Croë in Cap d’Antibes on the French Riviera, an estate built on more than 17 acres of land with 12 bedrooms and a swan-shaped bathtub , formerly owned by King Edward VIII of Great Britain. Three addresses tied to the château were included in the list of frozen properties.

In the French Caribbean island of St. Barts, Abramovich owns the 70-acre Gouverneur estate on Governor Beach, which features Balinese bungalows and several tennis courts and swimming pools . He may also own other properties on St. Barts . A property called Le Lurin was also frozen by French authorities. A local source told Forbes that Abramovich owns another home by the port of Gustavia, the capital, a short drive away from Gouverneur. The source said that the property appears to have been abandoned mid-construction.

Alexei Kuzmichev

Estimated value of frozen properties: $57 million.

Kuzmichev owns La Petite Ourse villa in the exclusive seaside town of St. Tropez on the French Riviera. He owns the villa—which was reportedly purchased for $57 million —through SCI Le Cedre Rouge, according to French corporate records. The home shares a name with two of Kuzmichev’s yachts—the 79-foot La Petite Ourse and the 54-foot La Petite Ourse II —which were frozen by French authorities on March 16 and March 21, respectively.

Forbes found that Kuzmichev also owns three properties in a large residential building at 2 and 4 Rue de Solférino and 9 and 11 Quai Anatole in central Paris, all of which were frozen by French authorities. He owns them through four SCIs, according to French corporate records: RCS Holding 1, RCS Holding 2, RCS Holding 3 and QAF RDS Holding.

Andrey Melnichenko

Estimated value of frozen properties: $80 million.

Melnichenko owns Villa Altair in Cap d’Antibes, France, replete with a home theater, wine cellar, sauna, and a swimming pool . He owns the villa through a French real estate firm, Pershore Comercio International S.a.r.l., which is in turn wholly owned by Melnichenko’s Luxembourg-based firm Jalinon Investments S.a.r.l. Three properties owned by Pershore at the site of Villa Altair were frozen by French authorities.

In a statement, a spokesperson for Melnichenko called the EU sanctions against him “absurd and nonsensical” and added that they will be disputed.

Vadim Moshkovich

Estimated value of frozen properties: $6 million.

Moshkovich owns a villa on nearly 10 acres of land at 56 Boulevard Princesse Grâce de Monaco in Nice on the French Riviera, which he reportedly purchased for $3.6 million in 1998 . He owns the now-frozen home through Prosperite SCI, according to French corporate records.

Alexander Ponomarenko

Estimated value of frozen properties: $176 million.

Ponomarenko owns two large villas on 170,000 square feet of land at 8 Chemin de St Hospice in Saint-Jean-Cap-Ferrat on the French Riviera. In 2015, he sold them to a French company named SCI La Chabanne Project, according to an investigation by Russian media outlet IStories . Ponomarenko's partner Natalia Rozhkova owns 95% of SCI La Chabanne Project and Ponomarenko is a director at the firm, per French corporate records. A spokesperson for Ponomarenko told IStories in October 2021 that he acquired the property for about $134 million in 2008.

Viktor Rashnikov

Estimated value of frozen properties: $200 million.

Through his daughter, Olga, Rashnikov owns the 16-room Villa Nellcôte mansion in Villefranche-sur-Mer on the French Riviera. Olga owns 94% of SCI Nellcote Baie de Villefranche and SCI Baie des Figuiers, the companies that own the property, and Rashnikov is also a director at both firms, per French property records. Three properties owned by SCI Nellcote Baie de Villefranche and SCI Baie des Figuiers at the site of Villa Nellcôte were frozen by French authorities.

Built in the 1890s, the Belle Époque villa features a swimming pool and crystal chandeliers and has had some notable residents: it was occupied by the Gestapo during the Nazi occupation of France in the 1940s and was rented by Keith Richards of the Rolling Stones in 1971 .

Forbes found that Rashnikov also owns three properties at 24 Avenue Gabriel in central Paris, all of which were frozen by French authorities. He owns the apartments, located directly across the street from the Élysee Palace—currently occupied by French President Emmanuel Macron—through SCI Parc Gabriel, per French corporate records. Abramovich’s ex-wife Irina Malandina owns an apartment in the same building worth $17.5 million, according to the Organized Crime and Corruption Project’s Russian Asset Tracker project , which Forbes is participating in.

Arkady Rotenberg

Estimated value of frozen properties: $62 million.

Vladimir Putin’s childhood friend and former judo sparring partner Arkady Rotenberg owns Villa Shoshana, a 97,000-square-foot estate in Saint-Jean-Cap-Ferrat on the French Riviera. He owns the property through SCI Villa Shoshana and Luxembourg-based Lucasnel SA, according to Luxembourg and French corporate records. He purchased the property for $47 million in 2014.

Gennady Timchenko

Estimated value of frozen properties: unknown.

Timchenko’s wife Elena—who was sanctioned by the EU on April 8 —owns two properties at Avenue du Cap Nègre in Le Lavandou on the French Riviera. She owns the homes through her 55% stake in Luxembourg-based Coeur de Cavaliere S.A., according to the Luxembourg Business Register. Timchenko’s daughter, Ksenia Frank-Timchenko, owns a French company named Arles which owns another two properties at Avenue du Cap Nègre, both of which were also frozen.

The homes owned by Elena and Ksenia are across the street from Le Club de Cavalière, a 5-star hotel and spa with its own private beach which Elena owns through her 61.9% stake in French firm Sogeco, according to French corporate records. Sogeco also owns Le Grand Coeur, a 4-star hotel and spa in the Alpine ski resort of Méribel . Both hotels were included in the list of frozen properties.

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Russian oligarchs flee to safe havens in superyachts, ramp up security

The world is ramping up its punishment of Russia over its invasion of Ukraine – and it has left the nation’s billionaire oligarchs scrambling.

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Russian oligarchs appear to be moving their plush superyachts to safe havens as countries around the world tighten sanctions over the invasion of Ukraine.

A growing number of vessels belonging to Russian tycoons are cruising around the Maldives, Montenegro and the Seychelles, just as multiple sanctions have been slapped on their homeland, The Sun reports.

As the war in Ukraine heads into its second week, Russian billionaires appear to be fleeing in order to escape potential asset seizures.

Russian companies and oligarchs at the heart of President Vladimir Putin’s brutal regime have been hit with sanctions worth billions, asset freezes and travel bans.

Data from Marine Traffic reveals at least four yachts owned by Russian tycoons are now cruising around the Seychelles, Montenegro and the Maldives.

And private security teams have been hired by Russians billionaires who are worried about their superyachts in Majorca being targeted amid the current Kremlin-led attacks on Ukraine.

The yacht movements come as the US has flagged it could take aim at the assets of Russian business leaders as part of its sanctions against Moscow.

US President Joe Biden said he and his allies plan to seize the yachts, luxury apartments and private jets of wealthy connected Russians.

France is also drawing up a list of properties owned by Russian oligarchs – including yachts – that could be seized under EU sanctions.

As the Maldives and Montenegro do not have an extradition treaties with the US, it means they are safe havens for the Russian billionaires.

According to Marine Traffic, the superyacht known as Clio dropped anchor near Maldives capital Male on Monday after sailing from Sri Lanka.

The Cayman Islands-registered vessel is owned by aluminium tycoon Oleg Deripaska, who was sanctioned by the US in 2018.

The largest yacht currently in the Maldives is the 140m Ocean Victory , belonging to steel magnate Viktor Rashnikov, Bloomberg reported.

Titan, owned by Russian billionaire Alexander Abramov, is also currently anchored in Male.

Meanwhile, Vagit Alekperov, president of Russia-based Lukoil, is sailing his yacht, the Galactica Super Nova , to Montenegro from Barcelona, according to Marine Traffic.

And the Nord , owned by Alexei Mordashov (another steel billionaire) is currently in the Seychelles after reportedly sailing from the Maldives.

He was among oligarchs added to the EU’s sanctions list, along with Igor Sechin, head of state oil giant Rosneft, and Nikolay Tokarev, boss of pipeline mammoth Transneft.

Russian banker Andrey Kostin’s Sea Rhapsody is also heading to the Seychelles after reportedly sailing into Barcelona last month.

It’s not clear why the Russians would be moving their yachts to the Seychelles as it does have an extradition treaty with the US and other countries.

UK Foreign Secretary Liz Truss said lawyers at the Foreign Office were building up “watertight” cases to successfully sanction Russian oligarchs in the UK.

“We will continue working through our hit list of oligarchs, focusing on their houses, their yachts and every aspect of their lives,” she said.

Roman Abramovich, the owner of Premier League football club Chelsea, owns a number of superyachts, including the $822 million Solaris – which features a missile detection system – and the $1.37 billion Eclipse .

Solaris is currently moored in Barcelona, and Eclipse is in the Caribbean, according to the latest information.

An MP claimed this week Abramovich was selling his properties in Britain to avoid possible financial sanctions.

UK Labour’s Chris Bryant told MPs that Ambramovich was scrambling.

“ I think he is terrified of being sanctioned, which is why he’s already going to sell his home tomorrow, and sell another flat as well,” he said.

“My anxiety is that we’re taking too long about these things.”

Crew member arrested after attempted ‘sinking’

On Tuesday, images reportedly showed a Ukrainian sailor trying to sink an oligarch’s vessel as he claimed his boss sells weapons to Putin.

Russian tycoon Alexander Mikheev, who took over state-owned weapons supplier Rostec six years ago, owns Lady Anastasia , a $9.6 million superyacht.

The 50m luxury yacht was moored at Port Adriano in Mallorca when Taras Ostapchuk, 55, allegedly opened the valves.

Private security teams have now been called in to protect the superyachts and luxury villas on the Spanish island.

Police have stepped up patrols of the island’s ports so there is a 24-hour watch to head off potential damage through revenge attacks.

Spanish newspaper Ultima Hora reported tycoons have “activated preventive protection mechanisms” to avoid attacks on their properties.

The Russian community has also been letting kitchen and cleaning staff stay in their villas to stop them from being empty.

It comes as UK MP Grant Shapps on Tuesday banned all Russian shipping from using ports in the UK.

The Transport Secretary made the move over concerns about a Russian oil tanker scheduled to dock in Orkney on Tuesday.

‘Silence is inexplicable’

Earlier this week, UK Prime Minister Boris Johnson was asked what he thought of the failure of most Russian oligarchs to speak out against the war on Ukraine.

“I think that their silence is inexplicable, and I think that people need to step up and denounce this act of aggression, and those oligarchs who have connections with the Putin regime and who are benefiting from their association with the Russian state, we are going to expose and distrain their assets,” he said.

More than 2000 Ukrainians have been killed in the war with Russia so far, as fierce fighting in the country continues.

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Russian troops have completely surrounded the cities of Kherson and Mariupol in southern Ukraine, while the country’s second city of Kharkiv has continued to come under intense shelling.

And Putin’s troops continue to close in on the capital Kyiv, even as the Russian President’s hopes of a quick takeover of the country have seemingly been dashed.

This article originally appeared on The Sun and has been republished here with permission

An Australian WWII bomber and its four crewmen have been identified 81 years after the plane went down in the waters off Papua New Guinea.

Zookeepers at the Australian Reptile Park have had a terrifyingly close call with an angry crocodile, with one keeper walking away with a head injury.

A 39-year-old woman has fallen more than 50 metres, after a photo she was trying to take at an idyllic spot went horribly wrong.

Helipads that turn into pools! On-board spas! Anti-pap tech! Inside the oligarch super-yachts

Igor Sechin’s superyacht has a helipad that converts into a swimming pool. Viktor Rashnikov’s seven-deck vessel comes with six pools for its 28 guests. Dmitry Pumpyansky’s boat’s onboard jacuzzi is a hit with everyone from Kendall Jenner to Lewis Hamilton - or at least it was, before the Russian steel magnate’s beloved boat was seized in Gibraltar as part of a high-stakes game of cat-and-mouse amongst oligarchs’ mega-yachts since the start of the Ukraine war.

Yachts of those linked to Vladimir Putin are being confiscated by authorities in (mostly European) ports across the world but for some of those marina-hopping to avoid sanctions are finding it harder to lay low than others. Businessman Dmitry Kamenshchik’s mega-boat is the height of three London buses end-to-end and comes with an onboard hospital and dive school, and a boat docked in Italy that’s reportedly owned by Putin himself is the size of two apartment blocks, with local captains saying it’s the biggest they’ve ever seen - and that’s by superyacht standards.

No wonder members of Russia’s billionaire big boat club are starting to sweat. Chelsea owner Roman Abramovich ’s nine-deck A-list party palace has already been met by activists with Ukrainian flags to stop it docking, and Ragnar, a £58 million icebreaker owned by mining tycoon Vladimir Strzhalkovsky, has been stuck in a Norwegian port since mid-February because no one will sell it fuel due to the owner’s links to the Russian president.

From Russian sailboats with their own submarines to the £140 million vessel where Bennifer rekindled their romance last summer, this is a guide to the brashest boats in the battle of the high seas.

Vladimir Putin’s six-floor mega-vessel

Name : Scheherazade

(Alleged) Owner : Russian President Vladimir Putin

Size : 460ft

Price-tag: £528m

USP : A weapon system capable of shooting down drones

Seizure status : Unseized in Italy

“It’s the largest yacht I’ve ever seen here... We’re all wondering who the owner is”. That’s what one Italian yacht owner told reporters last week of the mysterious superyacht - one of the 20 biggest in the world - docked in Tuscany’s Marina di Carrara near hers for the last few months (it reportedly features a spa, cinema, wood-burning fireplace, two helipads and a pool table that tilts to adjust for the waves).

The mega-vessel was built in 2020 and its ownership been cloaked in secrecy from the start. Ukraine’s leader Volodymyr Zelensky is one of those piling pressure on Italian authorities to seize the boat, with US authorities and activists linked to Alexei Navalny all pointing to the same suspected owner: Vladimir Putin.

“They are Russian state employees, military personnel, and they regularly travel to Italy as a group to work on the mysterious yacht,” investigative journalist Maria Pevchikh has said of the crew members, amid rumours that all 40 of them have now been removed from the vessel and replaced with British crew.

Pevchikh looked up many of the previous crew using phone numbers and credit score data and claims they were all Russian apart from the captain, a British national called Guy Bennett-Pearce who denies ever seeing Putin on board and whose mother said this week that he would never work for a “murderer”.

She claims that some of the crew worked for Russia’s Federal Protective Service (FSO), the agency responsible for the president’s personal security, while one of them has reportedly worked aboard Graceful, a 270ft boat that has also been linked to Putin. Scheherazade has also reportedly travelled twice to the Russian Black Sea resort of Sochi, where Putin has a residence.

Roman Abramovich’s A-list party palace

Name : Eclipse

Owner : Sanctioned Chelsea FC owner Roman Abramovich

Size : 533ft

Price-tag: £750m

A-list crew : Princess Beatrice, Orlando Bloom, Katy Perry, Kendall Jenner

The have-yachts become the have-nots: how big boats became the new geopolitical power pawns

Scheherazade: The £500m superyacht in Tuscan port ‘linked to Putin’

Yachts banned from leaving British moorings amid crackdown on Russian oligarchs

USP : Built-in missile defences, bullet-proof windows, “anti-paparazzi” tech and a miniature submarine

Seizure status: Unseized in Turkey

While Putin’s alleged yacht hides out in Italy, one of his closest ties in the UK, Roman Abramovich, has moved his to Turkey in a bid to evade sanctions. German-built Eclipse is the biggest beast in the Russian billionaire’s flotilla and was custom-made for him in 2010, featuring nine decks, two helipads, two swimming pools, several hot tubs, a gym, beauty salon and even an onboard nightclub.

It was the world’s longest private yacht until 2013, and has room for 24 guests. Princess Beatrice, Orlando Bloom, Katy Perry and Kendall Jenner have all been spotted partying onboard the £175,000-a-night vessel in Cannes over recent years - presumably keen to take advantage of the ship’s rumoured “anti-paparazzi” system designed to disrupt attempts to photograph passengers.

The vessel spends much of its time in the Caribbean where the Chelsea owner has a 70-acre beachside estate on the billionaire island of St Barts. But last month it was seen fleeing the Caribbean island of St Maarten and it has reportedly now been moved to Marmaris in the heart of the Turkish Riviera, where it was met with activists - including children - waving a “no war”-branded Ukrainian flag from an inflatable dingy in a bid to stop him docking.

Abramovich’s second biggest beast and the newest addition to his fleet, Solaris (featuring eight decks, a helipad and onboard beach club), has also been moved to Turkey in a bid to escape sanctions. The 48-cabin vessel was built in Germany and features the largest planes of glass ever built into a yacht.

It is currently docked 40 miles down the coast from Eclipse in Bodrum, where Abramovich has holidayed in the past, after slipping out of a Barcelona port earlier this month - and just in time. Six days later, Spanish officials there seized Valerie, the superyacht owned by former KGB boss Sergei Chemezov.

Alisher Usmanov’s big-b(u)oy boat

Name : Dilbar

Owner : Sanctioned billionaire businessman Alisher Usmanov, who has financial interests in Everton FC and family ties to Putin (his wife is a gymnastics coach who helped Putin’s rumoured girlfriend Alina Kabaeva)

Size : 512ft

Price-tag: £450m

USP : The Dilbar is the largest motor yacht in the world by gross tonnage (15,917), featuring the largest indoor pool ever installed on a yacht

Seizure status: Allegedly seized in Germany

Steel magnate Usmanov’s custom-built mega-boat has been described as “one of the most complex and challenging yachts ever built, in terms of both dimensions and technology” - but that didn’t seem to stop the the German authorities, who are reported to have seized it in Hamburg.

Hamburg officials have denied such reports, saying “no yachts have been confiscated” but three sources in the yacht industry told Forbes that the boat was seized by German authorities last week. Other reports claim the boat has not been seized but that all the vessel’s staff have been fired, suggesting that even Russia’s sixth-richest man (once the UK’s richest person) couldn’t afford their wages following Western sanctions.

“We have tried all avenues to find a solution to keep the team in place, and protect our positions, but have reached the end of the road of possibilities,” the boat’s captain Tim Armstrong reportedly wrote in a message to the crew.

No wonder. At 15,917 tonnes, the Dilbar (named after Usmanov’s mother) reportedly costs the same as four supercars to fill up with fuel (that’s approximately £45m to run it every year). It sleeps a crew of 96, plus 24 guests across 12 suites, with 1,000 cushions to keep them comfortable on deck. Standout facilities include two helicopter pads, a beach deck, garden, sauna, beauty salon, gym and the largest indoor pool (25m) ever installed on a yacht.

Dmitry Pumpyansky’s floating beach house

Name : Axioma

Owner : Sanctioned billionaire Dmitry Pumpyansky, owner and chairman of steel pipe manufacturer OAO TMK, a supplier to Russian state-owned energy company Gazprom

Size : 240ft

Price-tag: £57m

A-list crew : Kendall Jenner, Lewis Hamilton, Hailey Bieber and Gigi and Bella Hadid

USP : An inflatable waterslide and interiors fit for a Kardashian

Seizure status: Seized in Gibraltar

Pumpyansky’s mega-boat was previously docked in Antigua but set sail in early March for Gibraltar, where it was promptly detained. The vessel features five decks, a 3D cinema, on-deck infinity pool, jacuzzi with a swim-up bar, steam room, gym and watersports toys including jet skis.

With space for 12 guests alongside its 20-person crew, Axioma might not rival Usmanov’s boat on size, but it certainly does on star status. Kendall Jenner reportedly chartered the boat for her 19th birthday, inviting Gigi and Bella Hadid, Lewis Hamilton and Hailey Bieber to join her on the £420,00-a -week boat in Monaco.

According to superyachtfan.com, it’s the largest motor yacht ever built in Turkey, with a “beach house”-style inside. Images on chartering site Northrop & Johnson show interiors decked out with white and gold furnishings, shiny granite and natural wood fittings and bold modern artworks on the walls.

Vladimir Strzhalkovsky’s English-style icebreaker

Name : Ragnar

Owner : Unsanctioned mining tycoon, former KGB agent and longtime Putin acquaintance Vladimir Strzhalkovsky

Size : 223ft

Price-tag: £58m

USP : Onboard jet skis, snowmobiles and an English-style pub

Seizure status: Unseized in Norway

Ragnar (an old norse word meaning “warrior”) might not have been seized, nor its owner sanctioned, but it’s unlikely to be going anywhere anytime soon. According to latest reports, the £382,000-a-week converted icebreaker has been stuck in a Norwegian port since mid-February because no one will sell it fuel due to the owner’s links to the Russian president.

“We find the discrimination against us, extremely unjust... We have nothing to do with the owner of the boat,” the yacht’s captain, Robert Lankester, wrote in a message after Norwegian fuel suppliers said he and his 16-person crew can “row home” or “use a sail”.

Lankester is a British former Royal Marine and insists that none of his crew are Russian - “they just want to go home” and have resorted to catching and barbecuing fresh cod in the meantime.

At least there is plenty to keep them occupied and make them feel at home while they wait. According to Boat International, not only does the Arctic-ready vessel also include four ski scooters, a giant slide, snowmobiles and equipment for heli-skiing, but there’s also a room specifically designed to resemble a British pub.

Igor Sechin’s statesmanly ship

Name : Amore Vero

Owner : Igor Sechin, the sanctioned boss of Russia’s state energy company Rosneft, former deputy prime minister of Russia and a close ally of Putin

Size : 280ft

Price-tag: £90m

USP : A swimming pool that converts into a helipad

Seizure status: Seized in France

France might just have stolen the heart of Russia’s top oil tycoon (and one of Putin’s closest advisers), if the name of his boat Amore Vero ( “true love”) is anything to go by. Igor Sechin’s 280ft Netherlands-built superyacht was seized by officials in the small Mediterranean fishing port of La Ciotat near Marseille in early March. It had been due to stay there until late April while undergoing repairs, but authorities say they found the crew preparing for an urgent departure when they arrived.

The award-winning yacht has a 28-strong crew and staterooms for 14 guests, including two VIP suites with private balconies. There are two private owner’s decks, a jacuzzi and even a swimming pool that turns into a helipad. A second of Sechin’s mega-yachts, the £45 million Crescent, has also been seized in Spain.

Dmitry Kamenshchik’s Beyoncé-approved record-breaker

Name : Flying Fox

Owner : Unsanctioned Russian businessman Dmitry Kamenshchik, chairman of Moscow Domodedovo Airport

Size: 446ft

Price-tag: £303m

A-list crew : Beyoncé and Jay-Z

USP : An onboard hospital, professional dive centre and two-floor spa with the first on-yacht cryo-sauna

Seizure status: Unseized in the Dominican Republic

Picture three London buses balanced end-on-end. That’s the height of Dmitry Kamenshchik’s motor-boat palace, which towers 32 metres above the water and officially claims the crown for the world’s largest charter yacht. At £2.5 million-a-week (without food, fuel or extras), it’s also the most expensive to charter and was rented out by power couple royalty Beyoncé and Jay-Z for a summer holiday last September.

No wonder it caught their eye. The cruise-like ship comes with an onboard hospital, cinema, al fresco kitchen with a rotisserie, barbecue and multiple teppanyaki grills, and a world-leading spa that would be impressive even if it was firmly on dry land. Set over two floors, it features heated limestone flooring and a giant spa pool with hot and cold tanks for switching between steaming and icy modes in as little as 10 minutes.

For adrenaline-loving guests, the ship also features a water garage with an impressive fleet of nine tenders, toys from hoverboards to jet skis and even space for a submarine, if the owner ever chooses to install one. Oh, and there’s also professional dive centre with a three-person decompression chamber and a team of instructors including former Marines and Olympians.

Other staff members double-up as hairdressers and every member of the crew has military experience - which might come in handy given the limitations being imposed on high net-worth Russians like Kamenshchik, whether they’re sanctioned or not.

Alexei Mordashov’s luxury warship

Name : Nord

Owner : Russia’s richest man Alexei Mordashov, a sanctioned steel magnate with an estimated net worth of $29.1 billion

Size : 464ft

Price-tag: £500m

USP : Military-grade facilities (and style). Nord features its own helicopter hangar and two helipads

Seizure status: Unseized in the Seychelles

Nord - named after Mordashov’s gold-mining company - is currently anchored in the Seychelles, where Western sanctions don’t apply. The aptly-described “Tuxedo’d warship” looks more like a small aircraft carrier than a luxury yacht, featuring a beach club, swimming pool, cinema, gym, sauna and beauty salon. Designers say she was made with one idea in mind: “she must cause strong emotions in every observer, not only through her sheer size, but with the design itself”.

The sleek superyacht is the biggest in the businessman’s fleet of mega-boats, sleeping 36 guests, but it currently remains unseized. One of his other superyachts, the £42m 215ft Lady M (pictured above), was seized in Italy earlier this month.

Andrey Melnichenko’s eight-deck sailboat

Name : SY A (short for Sailing Yacht A)

Owner : Sanctioned chemical and coal magnate Andrey Melnichenko, founder of fertilizer producer EuroChem Group and coal energy company SUEK

Size : 469ft

USP : The world’s tallest masts and its own submarine

Seizure status: Seized in Italy

Melnichenko’s superyacht is one of the few owned by oligarchs to actually feature sails - and he certainly doesn’t do things by half. The futuristic-looking grey sailing boat was designed by A-list architect Philippe Starck and features the world’s tallest masts, each more than a football field in height above the deck, making it the world’s largest power-assisted sailing yacht (though it is rarely actually spotted sailing).

The eight-decker also sports multiple elevators, an underwater observation area and - allegedly - its own submarine. It was seized in the Italian port of Trieste in March.

Sergei Chemezov’s Hollywood dream boat

Name : Valerie

Owner : Sanctioned arms tycoon Sergei Chemezov, chief executive of Russian state-owned defence conglomerate Rostec who used to work with Putin as a KGB spy

Size : 279ft

Price-tag: £107m

A-list crew : Jennifer Lopez and Ben Affleck

USP : Bennifer approval

Seizure status: Seized in Spain

Valerie might have just been seized in Barcelona for belonging to Putin’s KGB pal Sergei Chemezov, but it is probably more famous for the headlines it made in the south of France last July. The mega-boat was reportedly the same vessel where Jennifer Lopez and Ben Affleck chose to rekindle their on-off romance last summer , after the Hollywood power pair were spotted cosying up on the glistening sundeck in Saint Tropez.

J-Lo is said to have hired the vessel for her 52nd birthday celebrations, having spent $200,000 on flights to get there. The iconic mega-yacht has cost €950,00 a week to charter in the past and comes with jet skis and equipment for offshore fishing - although Instagram suggests the couple were probably more interested in staying onboard.

The six-deck cruiser features a 20ft swimming pool, spa, jacuzzi hot tub and space for 17 guests and 27 crew. Perhaps it was one of them behind the singer’s onboard bikini birthday shoot, which has been liked more than 8 million times and shows her and Affleck kissing on the deck.

Viktor Rashnikov’s swimmer’s paradise

Name : Ocean Victory

Owner : Sanctioned steel magnate Viktor Rashnikov, chairman of one of Russia’s largest steelmakers MMK

Size: 460ft

Price-tag: £228m

USP : Six pools, a floodable tender garage and an underwater observation room

Seizure status: Unseized in the Maldives

Swimming pools are a superyacht essential in the oligarch world, but Viktor Rashnikov’s has six. That’s one for every five guests - which seems like a waste, given the yacht isn’t even available for charter.

Too late now anyway - the boat not have been seized (yet), but it’s certainly making a break for it. According to Bloomberg, it’s been spotted around the Maldives, a popular spot among hiding yacht-owners as it has no extradition treaty with the US. The seven-deck cruiser sleeps 28 guests and 56 crew and reportedly comes with a helipad, underwater observation suite and a floodable tender dock for smaller boats.

Eugene Shvidler’s Mercedes on the water

Name : Le Grand Bleu

Owner : Sanctioned oil magnate Eugene Shvidler

Size: 370ft

Price-tag: £114m

USP : An onboard aquarium and Land Rover 4x4

Seizure status: Unseized in the Caribbean

Designers say Shvidler’s boat was specifically designed “to look like a Mercedes” on the water - and buoy, does owner Shvidler like to show it off (or before the sanctions, anyway). In 2017, he deliberately anchored it in front of the Statue of Liberty for two months, blocking New Yorkers’ selfies in what the New York Post called a “jackass move”.

Perhaps part of the reason the oil magnate likes to show it off is the fact that he reportedly won it in a high-stakes wager against fellow oligarch Abramovich in 2006. It features an onboard aquarium, two boats capable of speeding at 69mph and a landing craft with its own Land Rover 4x4 for adventuring on dry-land.

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Villa linked to Russian oligarch Rashnikov seized in France

French authorities had previously declined to investigate the villa located in Saint-Jean-Cap Ferrat in the south of France because “it was not stated as (Rashnikov’s) property in tax records”.

Read also: U.S. charges two businessmen for facilitating sanctions evasion for Russian oligarch's yacht

Le Monde reported that the property was sold to a Swiss company registered in Panama following Russia’s full-scale invasion of Ukraine on Feb. 24 last year.

Rashnikov, who owns one of the largest steel producers in Russia, was placed under sanctions on March 15, 2022, Le Monde said.

Read also: EU launches ad hoc group on use of Russia’s frozen assets

It said three properties officially linked to Rashnikov had already been administratively frozen on the French Riviera and in Paris after he was placed under sanctions.

“The villa and the proceeds of the sale are now in the hands of the Ministry of Justice's Agency for the Management and Recovery of Seized and Confiscated Assets,” Le Monde wrote.

If the courts find that Rashnikov is guilty of trying to conceal the true ownership of the property, it could be permanently confiscated by the French government, according to Le Monde.

Read also: Control of nine seized, sanctioned Russian ships worth $13.5 m transferred to Ukrainian company

Rashnikov, 74, is the majority owner of Magnitogorsk Iron and Steel Works, one of the world's leading steel producers.

He is also the owner of the superyacht Ocean Victory, at the time of her construction the 10th largest yacht in the world.

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Read the original article on The New Voice of Ukraine

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News from non-English countries

In Russia, armed men seized an oil field with shooting: what is happening (video)

2023-09-17T14:45:23.375Z

Highlights: In the Irkutsk region of the Russian Federation, armed men seized the town of oil workers, frightened people with shots up and were expelled from the barracks. The incident is explained by an "active change of control" over an asset belonging to the arrested ex-owner of the bank Yugra, Alexei Khotin. The Russian Ministry of Internal Affairs said that they are aware of what is happening in the oil town, but their employees do not participate in the events. Earlier, in the Russian city of Elektrostal (Moscow region), during demonstration performances, soldiers began to shoot at spectators with children from machine guns with blank cartridges.

In the Irkutsk region of the Russian Federation, armed men seized the town of oil workers, frightened people with shots up and were expelled from the barracks. See and read the details ᐅ 1+1 news

In the Irkutsk region of the Russian Federation, two dozen armed men in camouflage uniforms landed from helicopters on the territory of the Dulisma oil workers' camp.

The corresponding video is published in Telegram channels.

As can be seen in the published footage, people in civilian clothes were taken out of the barracks, lined up against the wall with their hands raised behind their heads, and some were forced to lie down with their faces to the ground. During the raid, shots were fired upwards and obscene language.

The incident is explained by an "active change of control" over an asset belonging to the arrested ex-owner of the Russian bank Yugra, Alexei Khotin. He is accused of embezzlement of funds, since 98% (about 240 billion rubles) of all loans issued by the bank were used to finance the business of its owner in the field of real estate and oil production. Since April 2019, Khotin has been under house arrest.

People with weapons are called both representatives of private security firms and fighters of the SOBR unit, which is part of the Russian Guard.

However, the Russian Ministry of Internal Affairs, in a comment to the Podyem Telegram channel, said that they are aware of what is happening in the oil town, but their employees do not participate in the events. "It was not our department that was involved in the raid," they said.

Earlier, in the Russian city of Elektrostal (Moscow region), during demonstration performances, soldiers of the Russian Guard began to shoot at spectators with children from machine guns with blank cartridges.

Source: tsn

All news articles on 2023-09-17

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The Russian explained why he went to fight against the Ukrainians: Lubinets published a video of a conversation with a prisoner News/Politics 2024-02-11T14:54:16.012Z

Moscow: The European Union's refusal to buy Russian gas will cause a sharp rise in its prices News/Politics 2024-02-11T07:13:57.581Z

Moscow concert hall attack suspects appear (beaten) in court: who are they and were they tortured? News/Politics 2024-03-25T17:30:59.298Z

What happened in Moscow? What we know about the alleged ISIS attack on Crocus City Hall in Russia News/Politics 2024-03-23T22:49:47.090Z

Bloody shooting in "Crocus City": who is involved and who benefits - loud details News/Politics 2024-03-23T14:10:19.480Z

"Hot" day in Russia: release from Putin, plane crash and drone attack - details News/Politics 2024-03-13T09:32:30.800Z

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