FinTelegram reported that the Western alliance of the U.S. and EU are on the hunt for the luxury assets of the Russian oligarchs. U.S. President Joe Biden warned Russian oligarchs during his State of the Union address, saying that the U.S. will seize much of their wealth in the country. “We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets,” Biden said in his address. “We are coming for your ill-begotten gains.”
The seized superyacht
Russian oligarchs evidently move their superyachts to safe havens around the world as the West tightens sanctions over the invasion of Ukraine. A Forbes report said that German authorities seized the 156-meter (512-foot) Dilbar, owned by the Russian oligarch Alisher Usmanov. Dilbar is valued at $600m and is regarded as the largest motor yacht in the world by gross tonnage.
Heading for save havens
Barron’s reported that the superyacht Clio owned by Oleg Deripaska, a US-sanctioned Russian oligarch, arrived in the Maldives. The sunny island nation doesn’t have an extradition treaty with the U.S. Clio dropped anchor off Malé, the capital of the Maldives. The largest yacht currently in the Maldives is the 140-meter Ocean Victory, belonging to steel magnate Victor Rashnikov. Titan, owned by Russian billionaire Alexander Abramov, is also currently anchored in Male.
The 141-meter Nord, owned by Alexei Mordashov is currently in the Seychelles after reportedly sailing from the Maldives. The Rhapsody of Russian banker Andrey Kostin is also heading to the Seychelles. It’s not clear why the Russians would be moving their yachts to the Seychelles as it has an extradition treaty with the US and other countries, the SUN noticed. Meanwhile, Vagit Alekperov, president of Russia-based Lukoil, is sailing his Galactica Super Nova to Montenegro. Montenegro does not have an extradition agreement with the U.S.