More Russian superyachts seized, as EU bans all yacht exports to Russia
The Spanish prime minister Pedro Sánchez has stated ‘there will be more’ yachts seized, as Europe continues to target superyachts linked to Russia.
The fourth and latest round of EU sanctions, announced yesterday by the European Commission in coordination with the US, extends to all luxury goods including recreational boats.
In the full statement, which is available here, the EU declares the export ban on luxury goods is designed to “directly hit Russian elites.”
Six yachts have been seized so far in Europe, with one more declared ‘blocked property’, and one classed as ‘detained’.
On 16 March, Spanish authorities impounded the 135-metre megayacht Crescent, which is docked in the port of Tarragona. In a statement, Spain’s transport ministry said further actions are pending an inspection to establish its exact ownership. A police source told Reuters that Crescent is linked to Igor Sechin, the sanctioned chief executive of Russian oil giant Rosneft and former deputy prime minister of Russia.
It’s the second yacht linked to Sechin to be targeted, after French authorities seized 86-metre Oceanco superyacht Amore Vero, earlier this month.
Spain impounds third yacht linked to Russian oligarch
— Mani Subramanian Veeramani (#AskRealtorMani) (@AskRealtorMani) March 16, 2022
March 17, 2022 3:57 AMThe Crescent reportedly belongs to Igor Sechin, the head of Russia’s oil giant Rosneft and a Putin ally.https://t.co/xnPDPQFnSu pic.twitter.com/YgS86KWL0A
On 15 March, Spanish authorities reportedly detained Lady Anastasia, a £6.5million vessel reportedly owned by Russian oligarch Alexander Mikheyev. It is the same yacht that an irate Ukrainian crew member attempted to sink earlier this month.
Mikheyev, who is under European Union sanctions, is the head of Russia’s defence import agency. A police source tells Reuters that the 48-metre yacht cannot leave a marina in Mallorca, where it is now moored.
Those reports came just a day after Valerie, a US$140 million superyacht reportedly linked to a Russian arms tycoon, was temporarily seized in Barcelona.
Valerie is widely reported to be linked to Sergei Chemezov, the CEO of Rostec, a Russian state-owned defence conglomerate. Chemezov is understood to be a former KGB colleague of Russian President Vladimir Putin and is said to be a close ally of the president.
The ‘Valerie’ yacht — which #PandoraPapers show is linked to Russian oligarch Sergei Chemezov and his stepdaughter via an intricate network of offshore companies — has been retained in Barcelona by Spanish authorities, ICIJ partner @elpais_america reports. https://t.co/ZavPrqbl9W
— ICIJ (@ICIJorg) March 14, 2022
“Today we seized – the technical term is provisionally immobilised – a yacht belonging to one of the principal oligarchs,” said Spanish prime minister Pedro Sánchez, speaking about Valerie on TV channel La Sexta. “We are talking about a yacht that we estimate is worth US$140m.” Sánchez added: “There will be more.”
According to a listing on Dynamiq’s website, Valerie has a crew of 27, with space for 17 guests in nine “well-appointed” cabins.
The Guardian reports a government source stating that the yacht will remain under detention while Spanish authorities confirm its ownership and whether they feature on any list of sanctions targets.
In recent weeks, four megayachts belonging to Russian billionaires have been seized by France and Italy.
On 12 March, Italy’s finance police seized the world’s largest sail-assisted superyacht, Sailing Yacht A, which is owned by Russian oligarch Andrey Melnichenko. The 143m vessel, which has an estimated value of US$578 million, was impounded at the Port of Trieste, according to a statement from the Guardia di Finanzia.
The Philippe Starck-designed Sailing Yacht A is among the most distinctive yachts ever built.
On 5 March, 40.8-metre Sanlorenzo superyacht Lena was seized by Italian police while moored in Portosole Sanremo. Ferdinando Giugliano, media advisor to Italy’s prime minister Mario Draghi, has linked the yacht to Gennady Timchenko. Timchenko, the founder of private investment group Volga Group in Russia and shareholder of Bank Rossiya, is named on the UK, EU and US lists of sanctioned individuals.
Italian police seize ‘Lady M’ yacht belonging to Russian tycoon
— Syrian intell (@Sy_snipr) March 7, 2022
Footage shows Italian police seizing ‘Lady M,’ a superyacht estimated to be worth around 27 million USD, in the Italian port of Liguria. pic.twitter.com/Dx2TedzmLc
On 4 March, Italian police impounded the 65-metre Lady M in the northern Italian port of Imperia, according to reports. The Palmer Johnson-built superyacht is understood to be owned by Alexey Mordashov, the main shareholder and chairman of steel mining company Severstal and the richest man in Russia. Mordashov was blacklisted this month by the European Union in response to Russia’s attack on Ukraine.
On 3 March, French finance minister Bruno Le Maire confirmed authorities had seized 86-metre Oceanco superyacht Amore Vero, another yacht linked to Igor Sechin, in the port of La Ciotat — the first superyacht to be seized in Europe.
Meanwhile, on 7 March, the crew of the Russian oligarch Alisher Usmanov’s superyacht, Dilbar, was dismissed after the imposing of western sanctions made the payment of wages difficult, according to reports circulated last week.
Valued at US$600m, Dilbar is considered the largest yacht in the world by gross tonnage and is currently lying in the German port city of Hamburg.
While the yacht has not been seized, the US has declared Dilbar “blocked property.” This prohibits US staff from working on the vessel and bans any payment for its docking fees in US dollars.
Usmanov, whose net worth is an estimated US$18.4 billion, was sanctioned by the EU, US, and UK earlier this month.
“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,” Tim Armstrong, Dilbar’s captain, wrote in a message to the crew, according to Bloomberg.
Earlier this month, Marine Industry News reported that marine tracking data shows that a growing number of Russian-owned superyachts are heading to ‘safe havens’ such as the Maldives, to avoid potential seizures under sanctions.
There is keen interest in the whereabouts of Russian-owned superyachts, with hashtags such as #Yachtwatch trending on Twitter.
