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A russian oligarch's $90 million yacht is seized as part of u.s. sanctions.

A Civil Guard stands by the yacht called Tango in Palma de Mallorca, Spain, on Monday. U.S. federal agents and Spain's Civil Guard are searching the yacht owned by a Russian oligarch. Francisco Ubilla/AP hide caption

A Civil Guard stands by the yacht called Tango in Palma de Mallorca, Spain, on Monday. U.S. federal agents and Spain's Civil Guard are searching the yacht owned by a Russian oligarch.

Spanish officials have seized a Russian-owned luxury yacht in Mallorca at the request of the U.S. Department of Justice. It was the first coordinated seizure under the department's Task Force KleptoCapture, which is tasked with enforcing the sweeping sanctions placed on Russia in response to its invasion of Ukraine.

The $90 million 255-foot yacht, named Tango, is owned by sanctioned Russian oligarch Viktor Vekselberg, who heads the Renova Group, a Russian conglomerate with interests in metallurgy, machinery, energy, telecommunications as well as others.

"Today marks our taskforce's first seizure of an asset belonging to a sanctioned individual with close ties to the Russian regime. It will not be the last," said Attorney General Merrick Garland 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."

The seizure was performed by Spanish Guardia Civil officers with assistance from the FBI.

U.S. officials allege that the Tango has been owned continuously by Vekselberg since 2011 and that he used shell companies to " obfuscate his interest in the Tango ," the Justice Department said in a press release.

The release cites alleges bank fraud and money laundering as justification for the seizure, highlighting U.S. bank payments for support and maintenance of the vessel — including a December 2020 stay at a luxury water villa resort in the Maldives.

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Superyacht seized by U.S. from Russian billionaire arrives in San Diego Bay

June 27, 2022 / 3:40 PM EDT / CBS/AP

A $325 million superyacht seized by the United States from a sanctioned Russian oligarch arrived in San Diego Bay on Monday.

The 348-foot-long (106-meter-long) Amadea flew an American flag as it sailed past the retired aircraft carrier USS Midway and under the Coronado Bridge.

"After a transpacific journey of over 5,000 miles (8,047 kilometers), the Amadea has safely docked in a port within the United States, and will remain in the custody of the U.S. government, pending its anticipated forfeiture and sale," the Department of Justice said in a statement.

The FBI linked the Amadea to the Russian oligarch Suleiman Kerimov, and the vessel became a target of Task Force KleptoCapture, launched in March to seize the assets of Russian oligarchs to put pressure on Russia to end the war in Ukraine. The U.S. said Kerimov secretly bought the vessel last year through various shell companies.

But Justice Department  officials had been stymied  by a legal effort to contest the American seizure warrant and by a yacht crew that refused to sail for the U.S. American officials won a legal battle in Fiji to take the Cayman Islands-flagged superyacht earlier this month. 

The Amadea made a stop in Honolulu Harbor en route to the U.S. mainland. The Amadea boasts  luxury features  such as a helipad, mosaic-tiled pool, lobster tank and a pizza oven, nestled in a décor of "delicate marble and stones" and "precious woods and delicate silk fabrics," according to court documents.

"The successful seizure and transport of Amadea would not have been possible without extraordinary cooperation from our foreign partners in the global effort to enforce U.S. sanctions imposed in response to Russia's unprovoked and unjustified war in Ukraine," the Justice Department said.

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Why the U.S. put a $1 million bounty on a Russian yacht’s alleged manager

On Sept. 3, 2020, the staff of a $90 million yacht placed an order with a U.S. company for a set of luxury bathrobes that came to $2,624.35.

For roughly two years before that, according to federal prosecutors, the yacht’s management had been falsely claiming it was working for a boat named “Fanta.” But the luxury bathrobes came embroidered with a monogram that, prosecutors said, revealed the yacht’s true identity: “Tango.”

That was a problem, officials say in court papers, because Tango was owned by a Russian billionaire under U.S. sanctions, and doing business on his behalf violated federal law.

Late last month, U.S. authorities unveiled a $1 million reward for information leading to the arrest and or conviction of the man they say was running the yacht staff and orchestrated the deception with the robes — Vladislav Osipov, 52, a Swiss-based businessman from Russia. In a new indictment , federal prosecutors say Osipov misled U.S. banks and companies into doing business with the Tango yacht despite the sanctions on the Russian owner, whom the Justice Department has identified as billionaire Viktor Vekselberg .

Osipov has denied the allegations. Osipov’s attorney has said that the government has failed to demonstrate that Vekselberg owned the yacht, and that its management was therefore not a sanctions violation.

The reward offer for Osipov reflects the latest stage in the evolution of the West’s broader financial war against Russia two years into the war in Ukraine, as the United States and its allies increasingly target intermediaries accused of enabling Russian oligarchs to circumvent sanctions.

Many Russians close to President Vladimir Putin have been under sanctions dating to 2014, when Russia seized Crimea from Ukraine and sent proxy forces into that country’s eastern Donbas region. When Russia invaded Ukraine in 2022, President Biden vowed to deal a “crushing blow” with a barrage of new sanctions on financial institutions, industries, business executives and others tied to the Kremlin. But roughly two years later, Russia’s economy has proved surprisingly resilient after the nation poured tens of billions of dollars into ramping up its military industry. Moscow has also worked around the sanctions, finding new third parties to supply it with critical military and industrial hardware, as well as countries beyond Europe to buy its oil.

Now, the West is trying to increase the reach of its sanctions by digging deeper into Russian supply chains. Late last month, the Treasury Department announced more than 500 new sanctions targeting Russia , primarily on military and industrial suppliers. The Justice Department also announced charges against two U.S.-based “facilitators” of a Russian state banker who is under sanction, as well as the guilty plea of a dual national based in Atlanta who was accused of laundering $150 million through bank accounts and shell companies on behalf of Russian clients.

Prioritizing criminal charges against — and the arrests of — Western employees of Russia’s elites represents a new escalation of the U.S. financial war against Putin, experts say. One Moscow businessman, speaking on the condition of anonymity for fear of retribution, said many influential Russians are concerned about the arrest of two associates of Andrey Kostin, the head of VTB, Russia’s second-biggest state bank. These associates, Vadim Wolfson and Gannon Bond, were charged with helping Kostin evade sanctions by maintaining a $12 million property in Aspen, Colo., for Kostin’s benefit while concealing his ownership. Kostin has said that the charges of sanctions evasion against him are “unfounded” and that he has not violated any laws . Bond has pleaded not guilty; Wolfson hasn’t made an initial court appearance yet.

Wolfson, also known as Vadim Belyaev, had been a Russian billionaire until the Russian government took over his bank in 2017. Bond, 49, is a U.S. citizen from Edgewater, N.J. For all Russians living abroad and working with people in Russia, the threat of criminal charges is a much more worrying prospect than the sanctions imposed by the Treasury Department last month against hundreds of individuals and entities, the businessman said, in part because sanctions are far easier to dodge than criminal charges.

“What you have seen through today’s public announcements are our efforts at really targeting the facilitators who possess the requisite skill set, access, connections that allow the Russian war machine [and] the Russian elites to continually have access to Western services and Western goods,” David Lim, co-director of the Justice Department’s KleptoCapture task force, which is tasked with enforcing U.S. sanctions over Russia’s invasion of Ukraine, told reporters last month.

Thad McBride, an international trade partner at the law firm Bass Berry & Sims, said the crackdown on intermediaries reflected the natural evolution of the U.S. sanctions campaign in response to Russian adjustments.

“It seems to me they have gone through a comprehensive list of the oligarchs, and you can debate whether or not it’s had a meaningful impact on the Russian war effort,” McBride said. “Because they’re getting smarter about who’s who, they’re finding other people who play meaningful roles in these transactions, even though they’re not showing up in the headlines.”

The charges against Osipov related to his alleged management of the Tango yacht illustrate the mounting potential consequences for people in Europe and the United States who attempt to do business with Russians targeted by Western allies, as well as the opaque structures allegedly employed by those seeking to evade sanctions.

With a net worth estimated by Forbes in 2021 at $9 billion, Vekselberg, 66, has long drawn scrutiny from the West — and sought to safeguard his wealth. He made his initial fortune in aluminum and oil in Russia’s privatization of the 1990s and then expanded into industrial and financial assets in Europe, the United States and Africa, with Putin’s blessing. In addition to the yacht, federal prosecutors say, Vekselberg acquired $75 million worth of properties, including apartments on New York’s Park Avenue and an estate in the Long Island town of Southampton.

Vekselberg, who declined to comment for this article, has not been criminally charged by the Justice Department. In a 2019 interview with the Financial Times, he denounced the sanctions as arbitrary and harmful for international business, saying he had been targeted just because he was Russian and rich and knows Putin.

In April 2018, the Treasury Department under the Trump administration sanctioned Vekselberg and six other Russian oligarchs as part of broader financial penalties over the Kremlin’s invasion of Crimea, support for President Bashar al-Assad in Syria and interference in the 2016 U.S. presidential election. Vekselberg was also targeted for his work for the Kremlin as chairman of the Skolkovo Foundation, an attempt to create Russia’s version of the Silicon Valley — evidence that appeared to undermine the Russian businessman’s claims that he operated independently of the Kremlin.

But with Vekselberg’s payments monitored by U.S. banks, according to the federal indictment , Osipov used shell companies and intermediaries to avert the bite of sanctions. Vekselberg kept other major assets out of the reach of U.S. authorities by making use of the Treasury Department’s 50 percent ownership rule, which stipulates that it is illegal to transact with firms only if an owner under sanction controls more than 50 percent of the business.

For example, a month after Treasury imposed sanctions on Vekselberg in April 2018, his Renova Innovation Technologies sold its 48.5 percent stake in Swiss engineering giant Sulzer to Tiwel Holding AG, a group that is nevertheless still “beneficially owned” — meaning, owned in practice — by Vekselberg through Columbus Trust, a Cayman Islands trust, according to Sulzer’s corporate filing. Vekselberg’s longtime right-hand man at Renova, Alexei Moskov, replaced one of Vekselberg’s direct representatives on the board. Moskov told The Washington Post that he stepped down from all his executive positions at Renova Group in 2018 after U.S. sanctions were first imposed and from that moment ceased to be Vekselberg’s employee.

The attempts to circumvent the sanctions appear to have found some success in the U.S. legal system. Columbus Nova, a U.S.-based asset management fund controlling more than $100 million in assets in the U.S. financial and tech industry, is run by Vekselberg’s cousin, Andrew Intrater. The firm battled for more than two years to lift a freeze on Columbus Nova’s assets, imposed by Treasury’s Office of Foreign Assets Control because of the sanctions on Vekselberg, and won, reaching a settlement agreement with the Treasury Department. After renaming itself Sparrow Capital LLC, Columbus Nova successfully argued that Intrater — not Vekselberg — owns the fund. Intrater argued that the company was 100 percent owned by U.S. citizens and that no individual or entity under sanction held any interest in it. Intrater said Columbus Nova had earned fees for managing investment funds owned by Renova. He said he had repeatedly told Treasury he would not distribute any funds to Vekselberg.

Now Osipov, the alleged manager of Vekselberg’s $90 million yacht, is attempting a similar argument as U.S. authorities seek his arrest on charges of bank fraud, money laundering, conspiracy to defraud the United States, and violations of sanctions law.

The federal indictment states that the Tango was owned by a shell corporation registered in the British Virgin Islands that was in turn owned by several other companies. The Virgin Islands shell company, authorities say, was controlled by Osipov, who also served in senior roles for multiple companies controlled by Vekselberg. U.S. officials also say Vekselberg ultimately controlled the other companies that owned the Virgin Islands shell company.

According to the indictment, a Tango official instructed a boat management company in Palma de Mallorca, Spain, to use a false name for the yacht — “Fanta” — to disguise its true identity from U.S. financial institutions and firms, which try to avoid doing business with an entity or person under sanction.

Working at Osipov’s direction, according to the indictment, employees for Tango bought more than $8,000 worth of goods for the yacht that were unwittingly but illegally processed by U.S. firms and U.S. financial institutions, including navigation software, leather basket magazine holders provided by a bespoke silversmith, and web and computing services. The management company running Tango, run by Osipov, also paid invoices worth more than $180,000 to a U.S. internet service provider, federal prosecutors say.

The Tango was seized by the FBI and Spanish authorities in the Mediterranean not long after Russia invaded Ukraine in 2022, and Osipov was first indicted last year. The owner of the Spanish yacht management company hired by Osipov, Richard Masters, 52, of Britain, was criminally charged last year by federal prosecutors with conspiracy to defraud the United States and violating federal sanctions law. A request for comment sent to Masters’ firm was not returned.

But in recent court documents, Osipov’s attorney argues that the yacht was not more than 50 percent owned by Vekselberg, and that the government hasn’t demonstrated it was. Barry J. Pollack, an attorney at Harris, St. Laurent and Wechsler, also says the government never warned Osipov of its novel and “unconstitutional” application of federal sanctions law.

“The government points to no precedent that supports its extraordinary interpretation and cites no authority that allows the traditional rules of statutory construction to be turned on their head,” Pollack wrote in a defense filing. The filing adds: “[Osipov] is not a fugitive because he did not engage in any of the allegedly criminal conduct while in the United States, has never resided in the United States, did not flee from the United States, and has not concealed himself.”

Still, the State Department’s Transnational Organized Crime Rewards Program has said it will provide up to $1 million for information leading to Osipov’s arrest, warning that he may visit Herrliberg, Switzerland; Majorca, Spain; or Moscow.

The case demonstrates the extent of the U.S. commitment to tighten the screws on those seen as aiding Russian elites, even if they themselves are not closely tied to the Kremlin.

“When DOJ levels legal action against an individual or entity, they have quite a bit of evidence, especially because the threshold to press charges for money-laundering and sanctions evasion is so high,” said Kim Donovan, director of the Economic Statecraft Initiative within the Atlantic Council’s GeoEconomics Center. “We’ve had quite a bit of experience targeting Russia directly, and what you’re starting to see is the U.S. go after the facilitators enabling sanctions evasion. That’s where the U.S. is focusing its efforts right now.”

U.S. seizes mega yacht owned by oligarch with close ties to Putin

PALMA DE MALLORCA, Spain — The U.S. government seized a mega yacht in Spain owned by an oligarch with close ties to the Russian president on Monday, the first in the government’s sanctions enforcement initiative to “seize and freeze” giant boats and other pricey assets of Russian elites .

Spain’s Civil Guard and U.S. federal agents descended on the yacht 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 on Monday morning.

The seizure was confirmed by two people familiar with the matter. The people could not discuss the matter publicly and spoke to AP on condition of anonymity. A Spanish Civil Guard spokesman confirmed that officers from the Spanish police body and from the FBI were at the marina searching the vessel Monday morning and said further details would be released later.

A Civil Guard source told The Associated Press that the immobilized yacht is Tango, a 78-meter (254-feet) vessel that carries Cook Islands flag and that  Superyachtfan.com , a specialized website that tracks the world’s largest and most exclusive recreational boats, values at $120 million. The source was also not authorized to be named in media reports and spoke to AP on condition of anonymity.

The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally of Russian President Vladimir Putin 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 U.S. are frozen and U.S. companies are forbidden from doing business with him and his entities.

The move is the first time the U.S. government has seized an oligarch’s yacht since Attorney General Merrick Garland and 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.

Vekselberg has long had ties to the U.S. including a green card he once held and homes in New York and Connecticut. The Ukrainian-born businessman built his fortune by investing in the aluminum and oil industries in the post-Soviet era.

Vekselberg 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 the Mueller probe after the attorney 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 the 2016 campaign and transition.

The 64-year-old mogul 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 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, 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 German, the U.K, 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, President Joe Biden warned oligarch 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.

Wednesday’s capture is not the first time Spanish authorities have been involved in the seizure of a Russian oligarch’s superyacht. Officials there 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 also 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 also 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.

Para reported from Madrid and Balsamo reported from Washington.

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Every Russian Oligarch Yacht Seized So Far—In Pictures

Before the invasion of Ukraine, the world was a playground for the Russian mega-rich.

Now, Russian oligarchs are struggling to hold on to their wealth, as their private jets and superyachts get seized and their properties impounded as a result of the heavy sanctions much of the world has imposed on the circle of billionaires around Vladimir Putin .

Since the European Union started imposing sanctions on an increasing number of Russian oligarchs, the list of luxury superyachts owned by Russian billionaires seized by authorities has steadily kept on growing.

Here's a breakdown.

On March 2, French authorities seized a yacht they said belonged to Rosneft's boss Igor Sechin in the Mediterranean port of La Ciotat.

The owner of Amore Vero wasn't formally Sechin, but French authorities said they found him to be the main shareholder.

On the same day, news spread that German authorities had seized a luxury yacht owned by Russian billionaire Alisher Usmanov. But German officials denied that the Dilbar , a $600 million yacht named after the billionaire's mother, had been seized in Hamburg.

The yacht, over 490 feet long and boasting an 80-foot swimming pool, two helipads and a garden, is now simply blocked in the northern port and is not allowed to leave.

Usmanov is one of the richest men in Russia and the world, with an estimated worth of $14.2 billion. The European Union has frozen his assets and described him as "pro-Kremlin oligarch with particularly close ties to Russian President Vladimir Putin."

On March 14 in Barcelona, Spanish police seized a $140 million yacht belonging to Sergei Chemezov, a former KGB officer who now heads the state-owned defense conglomerate Rostec. Following the seizure, Spanish Prime Minister Pedro Sanchez promised "there will be more."

The Valerie , a 280-foot yacht, is technically registered to Chemezov's stepdaughter Anastasia Ignatova. She is under U.S. sanctions, as is Chemezov and his wife.

The next day, Spanish authorities seized Lady Anastasia , reportedly owned by Alexander Mikheyev, in Mallorca. Mikheyev, director of Russian arms exporter Rosoboronexport, is under EU sanctions.

A day later, Spain seized another yacht believed to belong to Sechin, the 440-foot-long Crescent , in the port of Tarragona in Catalonia.

Since the beginning of March, Italy has seized three yachts belonging to Russian oligarchs.

Lady M , owned by steel magnate Alexey Mordashov, Russia's richest man, was seized in the port of Imperia on the same day as Lena , belonging to oil and gas mogul Gennady Timchenko, was seized in the port of Sanremo.

Lady M , formally registered in the Cayman Islands, has been docked in Imperia since January. The yacht is equipped with a beauty salon and a helicopter pad.

Lena , registered in the British Virgin Islands, has been in Sanremo since November 2021.

On March 12, Italian authorities seized Andrey Melnichenko's Sailing Yacht A , a $580 million yacht docked at the port of Trieste. Coal and fertilizer magnate Melnichenko was sanctioned by the EU on March 9.

The Ragnar , another superyacht owned by Russian oligarch and former KGB agent Vladimir Strzhalkovsky, wasn't confiscated, but it's stuck in Norway because nobody will sell it fuel to leave.

According to Croatian media reports, Viktor Medvedchuk's 300-foot mega yacht, The Royal Romance, was seized in the bay of Rijeka on Wednesday. Medvedchuk is leader of Ukraine's main pro-Russia party.

More yachts owned by Russian oligarchs and currently docked around Europe could yet be seized, as not all billionaires have been sanctioned by the EU and the ownership of some yachts is yet to be determined.

Those Russian oligarchs whose yachts haven't been seized are scrambling to take them far away from the grasp of European authorities, although they're running out of safe havens to hide their luxury vessels.

At least five Russian billionaires have moved their yachts to the Maldives as the EU imposed sanctions, ship-tracking data has shown. In early March, five superyachts were reportedly harbored in the Maldives, which doesn't have an extradition treaty with the U.S.

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About the writer

Giulia Carbonaro is a Newsweek Reporter based in London, U.K. Her focus is on U.S. and European politics, global affairs and housing. She has covered the ups and downs of the U.S. housing market extensively, as well as given in-depth insights into the unfolding war in Ukraine. Giulia joined Newsweek in 2022 from CGTN Europe and had previously worked at the European Central Bank. She is a graduate of Nottingham Trent University. Languages: English, Italian, French.

You can get in touch with Giulia by emailing [email protected].

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Who's Paying for Russian Oligarch's Seized Yacht in San Diego Bay?

The amadea, which superyachttimes.com called the 63rd largest yacht in the world, tied up monday at naval base san diego, in national city, by eric s. page and mari payton • published june 28, 2022 • updated on june 28, 2022 at 2:11 pm.

Many San Diegans who saw the news about the Amadea — the $325 million seized Russian oligarch's yacht that docked in San Diego on Monday — may be wondering: Who's paying for that?

Imagine how much the fuel costs to sail it more than 5,000 miles from Fiji, where it was seized earlier this month, to San Diego? A local marine fuel dock quoted the following prices, if you're wondering: $7.40 for gas, $7.35 for diesel. According to SuperYachtTimes.com, the Amadea has a 392,000-liter fuel tank. That works out to about 103,555 gallons, so it could cost $766,307 or so just to fill up.

And then there are maintence costs on a 350-foot long yacht, which, you can be sure, are extensive and necessary — in fact, not undertaking such efforts can cause the vessel's value to decline if it deteriotes due to neglect.

Get San Diego local news, weather forecasts, sports and lifestyle stories to your inbox. Sign up for NBC San Diego newsletters.

The Amadea carries a full complement of 36 crew, including the captain, according to SuperYachtTimes, but it won't need nearly that many once she tied up at Naval Base San Diego in National City. Nevertheless, someone will be monitoring the yacht and conducting the maintenance.

According to the U.S. Department of Justice, the yacht was bought with what it calls "dirty money," and, as such, some may be relieved to hear, will be sold to the highest bidder. Presumably, the associated post-seizure costs accrued after its seizure will be coming off the top of the sale price. Until then, the Amadea, which SuperYachtTimes called the 63rd larges yacht in the world, will resume in the custody of the U.S.

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Officials with the DOJ said the Amadea, which was seized in connection to the department's KleptoCapture campaign undertaken in the wake of the invasion of Ukraine by Russia, was owned by Suleiman Kerimov a Russian billionaire.

After the yacht arrived in San Diego, John Kirby, a former federal prosecutor, told NBC 7 that he thinks the U.S. government hopes moves like the Amadea's seizure are efforts to apply pressure to Russian president Vladimir Putin.

Earlier this month, Deputy U.S. Attorney General Lisa O. Monaco said, regarding the Amadea, “The department had its eyes on every yacht purchased with dirty money. This yacht seizure should tell every corrupt Russian oligarch that they cannot hide — not even in the remotest part of the world. We will use every means of enforcing the sanctions imposed in response to Russia’s unprovoked and unjustified war in Ukraine.”

The court ruling represented a significant victory for the U.S. as it encounters obstacles in its attempts to seize the assets of Russian oligarchs around the world. While those efforts are welcomed by many who oppose the war in Ukraine, some actions have tested the limits of American jurisdiction abroad.

The United States wasted no time in taking command of the after a Fiji court ruled in its favor and sailed the ship away from the South Pacific nation just hours after the ruling.

"If you could say or somehow prove that this boat … that the oligarch had the money for this boat because he bribed Vladimir Putin, that is public corruption," Kirby said. "It’s a crime even when it takes place outside the United States. The United States can still act upon it."

According the website, the Amadea is not currently for sale, but that may soon change. Until then, you can "shop" for other eye-popping, wallet-busting boats here .

The Associated Press contributed to this report — Ed.

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Russian oligarch's seized yacht costs $7 million a year to maintain, US says

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Reporting by Luc Cohen in New York; editing by Jonathan Oatis

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Thomson Reuters

Reports on the New York federal courts. Previously worked as a correspondent in Venezuela and Argentina.

Russia, Ukraine see crisis eventually resolved through talks, China's special envoy says

Russia and Ukraine both believe the conflict will end through negotiations, China's special envoy for Eurasian affairs said on Friday, even though the warring states view the prospect of peace talks very differently and are adamant in their positions.

Russian Oligarch's Seized Yacht Costs $7 Million a Year to Maintain, US Says

Russian Oligarch's Seized Yacht Costs $7 Million a Year to Maintain, US Says

FILE PHOTO: Part of a Hawaii themed cruise ship is seen near the Russian-owned super yacht Amadea, which was seized in Fiji by American law enforcement, while it is docked in Honolulu, Hawaii, U.S. June 17, 2022. REUTERS/Marco Garcia

By Luc Cohen

NEW YORK (Reuters) - The U.S. government said it is spending more than $7 million a year to maintain a superyacht it seized from a sanctioned Russian oligarch, and urged a judge to let it auction the vessel before a dispute over its ownership is resolved.

Authorities in Fiji seized the 348-foot (106-meter), $300 million Amadea in May 2022, pursuant to a U.S. warrant alleging it was owned by Suleiman Kerimov, a multibillionaire sanctioned by the U.S. Treasury Department in 2014 and 2018 in response to Russia's activities in Syria and Ukraine.

Efforts to auction the yacht are being challenged by Eduard Khudainatov, who led Russian state oil and gas company Rosneft from 2010 to 2013.

The Latest Photos From Ukraine

Khudainatov claims ownership of the Amadea, and has said it cannot not be forfeited because he has not been sanctioned.

In a court filing late on Friday, federal prosecutors in Manhattan told U.S. District Judge Dale Ho that the $600,000 average monthly maintenance bill for the Amadea has been "excessive," justifying an auction. They also said talks to have Khudainatov pay for the yacht's upkeep have broken down.

Photos You Should See

Prosecutors have said in previous court filings that Khudainatov is acting as the Amadea's "straw owner" to disguise Kerimov's role, and that maintenance payments are essential to preserving a yacht's value.

Khudainatov has until Feb. 23 to reply to prosecutors' request. In a statement, his lawyers said the motion to sell the vessel was "premature" and urged Ho to deny it until he "determines whether the seizure was unconstitutional."

The seizure came as Washington ramped up sanctions enforcement against people close to Russian President Vladimir Putin to pressure Moscow to halt its war against Ukraine.

If the U.S. government succeeded in auctioning the yacht, it would likely eventually transfer sale proceeds to Ukraine.

Prosecutors have said Kerimov violated U.S. sanctions by making more than $1 million in maintenance payments for the Amadea through the U.S. financial system, making the vessel now docked in San Diego subject to forfeiture.

Kerimov and his family are worth $10.7 billion, according to Forbes magazine. He amassed his fortune through Russian gold miner Polyus, though he is no longer a shareholder.

(Reporting by Luc Cohen in New York; editing by Jonathan Oatis)

Copyright 2024 Thomson Reuters .

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Tags: Ukraine , Russia , United States , crime , Europe

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Inside The 150 Frozen Homes, Yachts And Jets Of Sanctioned Russian Oligarchs

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Viktor Vekselberg's Tango yacht, which was seized by the U.S.

Western countries have frozen or seized at least $9 billion worth of luxury real estate, superyachts and private jets belonging to Russian billionaires since Russia’s invasion of Ukraine. It hasn’t made much of a difference to their fortunes.

On a cloudy morning in early April 2022, agents from the FBI and Spain's Guardia Civil police boarded a 255-foot superyacht named Tango moored at a marina in Palma, on the Mediterranean island of Mallorca. The yacht, belonging to aluminum baron Viktor Vekselberg , had been sitting in the dock for two months after arriving from Turkey in late January.

Hours after the police raid, U.S. Attorney General Merrick Garland announced in a televised statement that the $90 million yacht had been seized at the request of the U.S. Department of Justice. "We will now seek to have the vessel forfeited as the proceeds of a crime," he said at the time.

According to the seizure warrant —which cited Forbes' reporting on superyachts owned by Russian oligarchs —Vekselberg had used shell companies to hide his ownership of Tango and used U.S. banks to pay for the yacht's maintenance, evading sanctions placed on him in 2018.

It was a watershed moment, marking the first time that Western authorities had outright seized a Russian oligarch’s assets. "This [was] a historical event,” says Viktor Winkler, a sanctions lawyer and former head of global sanctions standards at German bank Commerzbank. "[Vekselberg] was already sanctioned in 2018, and that made him one of the few people where there was enough time for him to do something, like evade sanctions, and for the authorities to investigate."

In the days after Russian troops invaded Ukraine on February 24, 2022, Western countries began sanctioning dozens of Russian oligarchs and billionaires. From Fiji to France, authorities detained yachts and aircraft and ordered a freeze on homes that prevented sanctioned Russian oligarchs from visiting, selling or paying for the upkeep of their prized possessions.

As of April 2023, Forbes estimates that Western countries have frozen or seized at least 15 billionaire-owned yachts, 11 jets and helicopters and 124 homes worth a total of $9 billion. That’s small change when compared to the collective $310 billion fortune of the 46 sanctioned Russian and Russian-born billionaires on Forbes’ 2023 World’s Billionaires list.

That $9 billion includes assets that have been frozen, meaning the billionaire still owns them, but they can’t access or sell them or pay for their maintenance. Relatively few assets have been formally seized by authorities, which allows governments to take ownership and auction them. The U.S. seized Vekselberg’s Tango and Suleiman Kerimov ’s yacht Amadea plus nine homes in New York, Florida and Washington D.C. belonging to Vekselberg and Oleg Deripaska . Overall, the seized assets are worth an estimated $635 million—a drop in the bucket for people worth billions of dollars.

While sanctions haven’t hit oligarchs’ pocketbooks very much, they have had an impact by physically cutting them off from their luxury possessions in the West. When calculating the net worth of Russian billionaires, Forbes excluded the value of any homes, yachts or aircraft that have been frozen or seized.

“The likelihood of the West ever lifting the current sanctions is very, very low,” says Winkler, the sanctions lawyer. “The fact that the owner remains the owner is irrelevant, because the blocking of assets through sanctions prohibits not just him, but anybody from any use of the assets, no matter how small.”

The most high-profile targets of Western sanctions have been the oligarchs’ palatial superyachts. But detaining these vessels doesn’t come cheap. Many were held in Mediterranean and Caribbean ports in the weeks after the war began and have been slowly decaying ever since, racking up tens of millions of dollars in bills that governments need to pay to keep them afloat.

“None of the vessels affected actually have any financial value to their respective owners. Whether seized or merely detained, they can no longer function as a yacht,” says Benjamin Maltby, a partner at London-based law firm Keystone Law who focuses on superyachts. “They can’t be used as a form of transport or a platform for recreation and they can’t be sold by their owners. These are assets which are physically deteriorating.”

When it comes to bank accounts and stakes in companies, the value of the frozen assets is much larger. Within a month of the invasion, Forbes estimated that sanctions had hit more than $23 billion in assets belonging to Russian billionaires, including homes, yachts and jets. Last month, a joint statement from the U.S.-led Russian Elites, Proxies and Oligarchs (REPO) Task Force—which includes the U.S., U.K., the European Union and Japan—announced that it had blocked or frozen more than $58 billion in financial assets held by sanctioned Russians, including non-billionaires.

Despite those efforts to target their “ill-gotten gains,” Forbes found that Russian oligarchs are still extremely wealthy: 46 sanctioned billionaires have lost only an estimated $48 billion—about 14% of their collective net worth—since February 23, 2022, the day before the invasion.

In response to the sanctions, the billionaires have used their armies of lawyers to fight back. At least 20 sanctioned billionaires have filed lawsuits in the European Union’s General Court to seek removal of sanctions. Oleg Deripaska filed a petition with the U.S. Supreme Court last June over sanctions dating back to 2018, while steel tycoon Alexander Abramov sued Australia over the country’s sanctions the same month.

Even if they win their cases in Europe, it’s unlikely the sanctions will be lifted, according to sanctions lawyer Viktor Winkler. “In the past…[the EU] simply reissued the same sanctions designation merely with a different reasoning,” he says. “Sanctions lawyers call them 'narratives.’ As a matter of law, the EU is allowed to do that.”

No matter what happens in court, it’s clear that Western sanctions have failed at their stated goal: causing enough financial pain to convince the oligarchs to apply pressure on Vladimir Putin.

Here are the luxury homes, yachts and jets frozen and seized by Western countries:

REAL ESTATE

Number of properties: 124, total value: $5 billion.

Dmitry Mazepin's Rocky Ram villa in Sardinia, Italy, which has been frozen by Italian authorities.

Total value: $2.9 billion

Alisher Usmanov's Dilbar yacht, which has been frozen by German authorities.

Total value: $1.1 billion

A Boeing 787 Dreamliner. Roman Abramovich owns a Boeing 787, which is the subject of a U.S. seizure warrant.

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Mega-yacht seized from Russian oligarch is costing US taxpayers nearly $1MILLION a month to maintain as court battle to sell ship rages on

• The 348-foot-long, $300 million Amadea mega-yacht was seized from Russian oligarch Suleiman Kerimov in May 2022
• It has been docked in San Diego for the last two years and is costing nearly $1 million a month in maintenance 
• Authorities are looking to sell the yacht, but Russian businessman Eduard Khudainatov is challenging the ownership of the boat

A mega-yacht seized from a Russian oligarch almost two years ago by the U.S. government is costing taxpayers nearly $1 million a month in upkeep, court records revealed.

The 348-foot-long, $300 million Amadea mega-yacht was seized from Russian oligarch Suleiman Kerimov in May 2022 as part of an effort to put pressure on Russia to end the war in Ukraine.

It has been docked in San Diego since it arrived in the United States in June 2022 and is costing $922,000 a month to maintain, according to court records.

Authorities are looking to sell the yacht, but Russian businessman Eduard Khudainatov is challenging the ownership of the boat in court. 

'It is “excessive” for taxpayers to pay nearly a million dollars per month to maintain the Amadea when these expenses could be reduced to zero through interlocutory sale,' the government said in recent court filings. 

The costs breakdown as $600,000 per month in running costs; $360,000 for the crew; $75,000 for fuel; and $165,000 for maintenance, waste removal, food and other expenses, reported CNBC . 

The government is paying $144,000 in monthly pro-rata insurance costs and other charges, including dry-docking fees, add an additional $178,000, bringing the total to $922,000.

The luxury yacht features a live lobster tank, a hand-painted piano, a swimming pool and a large helipad. 

It was built in 2017 by German company Lurssen, according to Superyacht Times and is listed as the 63rd largest yacht in the world.

The Amadea was taken out from the San Diego Bay through a loop off the coast of La Jolla on a maintenance voyage in January, reported CBS 8 .

Khudainatov has claimed ownership of the Amadea and said it cannot not be forfeited to the U.S. government because he has not been sanctioned. 

Prosecutors argue Khudainatov is acting as the Amadea's 'straw owner' to disguise Kerimov's role.

Kerimov, 57, was sanctioned in 2022 for violating previous sanctions against him by using U.S. bank accounts to buy products and services 'for the operation and maintenance of the Amadea.'

He was previously sanctioned in 2018 for being 'complicit in certain activities with respect to Ukraine' after Russia invaded the Crimean peninsula in 2014.

The oligarch is a former oil trader and a member of the Russian Federation Council, the country's upper legislative chamber. He is a close ally of President Vladimir Putin and is worth a reported $14.5 billion.

The Amadea was docked in Fiji when U.S. authorities first attempted to seize the boat.

The U.S. ultimately won a legal battle in Fiji to take the boat and now are looking to sell it while the ownership is being challenged in U.S. court.

If the U.S. government succeeds in auctioning the yacht, it would likely eventually transfer sale proceeds to Ukraine.

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Endorsements | Keeping up with the Bezoses: Mark Zuckerberg…

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Endorsements | keeping up with the bezoses: mark zuckerberg buys a super yacht, reports say, a report says that zuckerberg’s luxurious new $300 million vessel was originally was commissioned by a russian oligarch who was the target of sanctions imposed after that country’s invasion of ukraine.

Given that Mark Zuckerberg enjoys a respectable 16th place on a list of the world’s richest people, he probably figured it was time for him to acquire one of the ultimate status symbols for the mega-wealthy — a super yacht.

A new report from The Sun said that Zuckerberg is now the proud owner of a $300 million vessel that he has christened “Launchpad.” The 387-foot-long vessel, which comes with a helipad and a $30 million companion boat, was seen docked this week at Port Everglades in Fort Lauderdale, Florida, with its unique chrome finish reflecting in the sun.

This purchase shows, among other things, that the Facebook and Meta founder and CEO has branched out from buying islands and building an underground complex to help him survive the apocalypse. Perhaps, he wants to cruise the Mediterranean this summer and be among the moguls who can play host to Leonardo DiCaprio.

The yacht definitely grants him admission to the watery playgrounds of such multibillionaires as Jeff Bezos, Larry Ellison, Bill Gates and any of the Russian oligarchs who haven’t been the target of sanctions imposed by the United States or its allies over Russia’s 2022 invasion of Ukraine.

In fact, Zuckerberg reportedly came by Launchpad due to the misfortunes of one of those oligarchs. The yacht originally was commissioned to be built by Vladimir Potanin, one of Russia’s richest men who is on multiple sanctions list, according to a report by Autoevolution.com , a transportation industry site. The yacht was known as Project 1010, and the shipbuilder in the Netherlands was legally barred from delivering it to Potanin when it was completed in 2022, though Autoevolution also said that Potanin was not the yacht’s actual owner.

The Sun reported that the yacht recently received “special permission” to be imported. It has since arrived in the United States, a couple months ahead of Zuckerberg’s 40th birthday on May 14 — which raises the question of whether he meant Launchpad as a birthday gift to himself.

It’s quite a gift: Launchpad can comfortably fit 24 guests aboard. It also requires a crew of 48 and is said to cost $30 million a year for upkeep and usage, according to Superyachtfan.com . But shelling out $30 million for maintenance a year shouldn’t be a problem for Zuckerberg, who reportedly earns between $6 million and $12 million a day, The Sun said.

But as spectacular as Launchpad sounds, super yacht fans might say it’s not as spectacular as Jeff Bezos’s super yacht, Koru. The $500 million sailing vessel features very tall masts, a swimming pool, a helipad and room for a second, smaller yacht. The most noteworthy thing about Koru is that Bezos commissioned a special sculpture to decorate its prow. It’s a “curvaceous winged goddess” that is said to bear a striking resemblance to his fiancee Lauren Sanchez.

The Amazon founder, his wife-to-be and the goddess figurehead spent much of last summer sailing around the Mediterranean, cruising from Spain to Croatia and hosting such famous guests as Katy Perry, Orlando Bloom and Usher. The couple also threw a lavish engagement party off the coast of Positano on Italy’s Amalfi coast, attended by another pack of famous friends, including Kris Jenner, Wendi Murdoch and, yes, Leonardo DiCaprio.

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Antigua and Barbuda to auction off $81m yacht ‘owned by Russian oligarch’

Andrey Guryev, who has been put under UK government sanctions, claims he is not owner of Alfa Nero

An $81m (£67m) superyacht said to be owned by the sanctioned Russian oligarch Andrey Guryev is to be auctioned off by the government of Antigua and Barbuda , which claims the vessel has been abandoned in the Caribbean since Russia’s invasion of Ukraine last year.

The government of Antigua and Barbuda on Monday warned the owner of the Alfa Nero superyacht that they had 10 days to claim the vessel or it would be sold to the highest bidder.

The information minister, Melford Nicholas, said Alfa Nero had been abandoned in Falmouth harbour in Antigua since February 2022 and the government was “trying to prevent a future hazard since the luxury vessel is not being maintained by its owner”.

In a statement the office of the prime minister of Antigua and Barbuda said: “A notice to the newspapers and other media will be published for a period of 10 days, notifying the sale of the Alfa Nero vessel in order to satisfy the requirements under the law for a forced sale. If the owner fails to claim the vessel within that time period, the government of Antigua and Barbuda will sell it to the highest bidder.”

Guryev, 62, who made a $10bn fortune from the Russian fertiliser company PhosAgro, is the owner of Alfa Nero according to the US government, which imposed sanctions on him last year. The US Treasury’s Office of Foreign Assets Control (OFAC) said it had “identified Alfa Nero, a Cayman islands flagged yacht that AG Guryev reportedly bought for $120m in 2014, as blocked property of AG Guryev”.

The yacht, which features a 12-metre infinity pool, a Jacuzzi, a spa, a beauty room and a helipad, has been used by Guryev’s family, including his son (also Andrey) and his son’s wife, Valeria, who studied at the London College of Fashion and once reportedly stated on Instagram that she was “too pretty for work”. Like many yachts, it is owned via an opaque offshore structure, and Guryev has denied being the owner.

Guryev, who was subjected to UK government sanctions in April 2022 , is also, according to the OFAC, the owner of London’s largest private residence: the 25-bedroom £50m Highgate mansion Witanhurst.

The property is officially owned via Boradge Ltd, a company incorporated in the British Virgin Islands. Guryev’s London-based lawyers have said “Mr Guryev does not own Witanhurst”, without providing further details. Guryev’s spokesperson has previously told the New Yorker that he was a beneficiary of a trust owning the property but not the legal owner.

Last year Gibraltar auctioned off the £65m superyacht Axioma owned by the sanctioned steel billionaire Dmitry Pumpyansky. The sale of Axioma attracted controversy because it is being sold not for the benefit of the Ukrainian people but for a US investment bank, JP Morgan, which claims Pumpyansky owes it more than €20.5m (£17m).

Pumpyansky was until March of 2022 the owner and chairman of the steel pipe manufacturer OAO TMK, a supplier to the Russian state-owned energy company Gazprom. The UK said the billionaire, who it said had built up an estimated £1.84bn fortune, was one of the oligarchs “closest to Putin” .

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Rupert Murdoch's new Russian fiancée ties him to a sprawling web of money — with some surprising connections

• Rupert Murdoch is getting married for the fifth time, and with the union comes some interesting ties.
• His fiancée, Elena Zhukova, was once married to Alexander Radkin Zhukov, a Russian oligarch.
• Her daughter, Dasha Zhukova, was married to Roman Abramovich from 2008 to 2017. 

Rupert Murdoch , 92, is engaged again.

For his fiancée, Elena Zhukova , 67, the engagement stands to add another page to a storied family history and sprawling ties to wealth and power. And with this union comes some new, shared history between Murdoch and a couple of Russian oligarchs, one of whom is thought to be a confidant to Russian President Vladimir Putin.

Murdoch announced his engagement to Zhukova on Thursday. The engagement comes about six months after he announced his retirement .

This marriage is set to be Murdoch's fifth and Zhukova's third. The pair met through Murdoch's third wife, Wendi Deng , The Daily Mail previously reported.

Zhukova was previously married to a Russian oligarch, Alexander Radkin Zhukov. In 2001, Zhukov was detained in Italy and spent six months in jail over accusations that he worked with the Russian mafia to smuggle massive caches of arms, The Guardian reported. He denied the charges of arms dealing and hasn't served prison time for them.

The Times reported that Zhukov was now living in London, where he had obtained British citizenship.

Zhukova shares a daughter with Zhukov, Dasha Zhukova . Like her mother, Dasha Zhukova was once married to a Russian oligarch. The art collector and socialite was married to Roman Abramovich from 2008 to 2017. They have two children together.

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Abramovich has been closely linked to Putin and is regarded as the Russian leader's backchannel to the West. The billionaire served as an envoy in peace talks between Russia and Ukraine weeks after the full-scale invasion began in February 2022.

Before the Ukraine war, Abramovich owned a vast luxury empire , which included private jets and the superyacht Eclipse . He also owned the Premier League soccer team Chelsea Football Club, which he quickly sold after the war began .

But Abramovich's close ties with Putin meant he was the subject of sanctions by the European Union and the UK . US officials seized two of Abramovich's private jets in June 2022 after a federal judge in New York said the planes had violated export restrictions.

The billionaire links don't stop there.

Dasha Zhukova is now married to Stavros Niarchos , the grandson of a Greek shipping tycoon. They got married in 2020 at a star-studded wedding in Switzerland and have a son together.

Murdoch had a seven-decade career , including founding News Corp. He stepped down as chairman of the company in late 2023.

During a News Corp. earnings call in 2008, Murdoch said the company was selling its stake in an outdoor advertising company in Russia because he didn't want to do business there .

"The more I read about investments in Russia, the less I like the feel of it. The more successful we'd be, the more vulnerable we'd be to have it stolen from us, so there we sell now," Murdoch said then.

Representatives for Murdoch didn't respond to requests for comment from Business Insider sent outside regular business hours.

Watch: VIDEO: How a Russian-Ukrainian couple has managed to stay together during war

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