On July 20, 2023, UK sanctions against Russian billionaire Oleg Tinkov were lifted, and he was removed from the UK’s sanctions list after an appeal by British billionaire Richard Branson. Tinkov’s assets, the $100 million superyacht La Datcha and his $63 million 2018 Dassault Falcon private jet, had disappeared from tracking when he was sanctioned in March 2022. The vessels stopped transmitting their location to prevent seizure by British authorities.
In March 2022, Tinkov, the founder of Tinkoff Bank, was included on sanctions lists in the UK. Within hours, two of his biggest assets, the $100 million superyacht La Datcha and his $63 million 2018 Dassault Falcon private jet, “disappeared.” Both craft stopped broadcasting their location and were stowed away to prevent British authorities from seizing them. Interestingly, Once that system was turned off, it was incredibly difficult for lawmakers in the UK to track down La Datcha and seize it.
Interestingly, Tinkov has not faced sanctions from the US or the EU. In October 2022, he renounced his Russian citizenship and urged other prominent Russian businessmen to do the same, forcing him to sell his stake in Tinkoff Bank.
Tinkoff Bank is a Russian commercial bank based in Moscow and founded by Tinkov in 20006. The bank does not have branches and is considered a neobank. It is the second-largest provider of credit cards in Russia and is the world’s largest digital bank, as measured by the number of customers. As of March 2022, Tinkoff Bank has had its credit rating withdrawn in compliance with sanctions imposed due to Russia’s invasion of Ukraine.
According to Forbes, despite the sanctions, Tinkov still retains a significant net worth of $4.7 billion. Forbes does not consider him an oligarch as he built his fortune independently without ties to the Russian government under Boris Yeltsin or Vladimir Putin.
La Datcha, designed by Oleg Tinkov and built by Damen Yachting, is a groundbreaking expedition yacht capable of traveling to remote regions, including polar areas. The vessel is equipped with various amenities, such as a dive center, ski room, two tender garages, two helicopters, and a submarine, combining adventure capabilities with luxurious features.
The removal from the sanctions list and the return of the luxury toys could inspire other oligarchs to speak out against Putin and the Ukraine war.
