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Germany seizes the world's largest yacht (at least according to volume)

Rachel Treisman

The luxury superyacht Dilbar sails off the coast of Monaco in 2017. Valery Hache/AFP via Getty Images hide caption

The luxury superyacht Dilbar sails off the coast of Monaco in 2017.

German authorities have seized the world's largest yacht by volume after determining that a Russian oligarch had transferred its ownership to his sister — who is also facing Western sanctions.

Dilbar, the yacht in question, measures some 511 feet and 15,917 tons, which shipbuilder Lurssen says makes it the largest motor yacht in the world by gross tonnage. It has two helipads and one of the biggest indoor pools ever installed on a yacht, according to the U.S. Treasury Department , which puts its estimated worth between $600 and $735 million.

Why so many Russian billionaires are called oligarchs

The superyacht is named after the mother of its original owner: Alisher Usmanov, one of Russia's wealthiest billionaires and a known close associate of the Russian president. Usmanov was sanctioned by the U.S., United Kingdom., European Union and Switzerland in March, following Russia's invasion of Ukraine.

Germany's federal police tweeted Wednesday that it found, "through extensive investigations despite offshore concealment," that the yacht currently belongs to Usmanov's sister, Gulbakhor Ismailova. Authorities impounded the yacht, which remains at the port of Hamburg , after confirming with Brussels that its owner is under sanctions.

A Russian billionaire's superyacht has been impounded in Hamburg, Germany. Harsh sanctions in response to the invasion of #Ukraine brought the estimated $600-750 million yacht Dilbar out of 'offshore concealment', and into the hands of authorities. pic.twitter.com/GYkH6SmQk2 — German Embassy (@GermanyinUSA) April 14, 2022

Ismailova was sanctioned by the U.K. on Wednesday and the EU last week. Both entities said Usmanov had indirectly transferred assets to his sister, including leaving her as Dilbar's only beneficial owner.

"The owner of the yacht 'Dilbar' is Navis Marine Ltd. (Cayman Islands), whose shareholder is Almenor Holdings Ltd. (Cyprus). All shares in that holding company are held by PomerolCapital SA (Switzerland) in trust for the benefit of 'The Sisters Trust,' " EU officials explained, adding that Usmanov has not been a shareholder of that trust company since 2017.

National Security

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

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Ismailova has also been linked to luxury real estate in Italy and Latvia associated with Usmanov, the EU said, and therefore has "actively supported materially or financially Russian decision-makers responsible for the annexation of Crimea and the destabilisation of Ukraine."

Dilbar made headlines in early March , when Hamburg officials denied conflicting reports that they had seized the superyacht and said any such move would have to come from higher federal customs authorities.

According to Boat International, Dilbar is also the fourth-longest yacht in the world. It can accommodate up to 96 crew members as well as 24 guests in a large living space, which includes fold-out balconies, an onboard garden (with "a specifically developed variety of grass that tolerates salt air") and more than 1,000 custom-made sofa cushions.

This story originally appeared in the Morning Edition live blog .

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Russian oligarch's super yacht seized

French authorities have seized a super yacht owned by an oligarch as part of the sanctions against Russia.

A yacht owned by Igor Sechin, boss of Russian state energy company Rosneft, was grabbed by French customs officers near Marseille.

However, German authorities denied a report that they had seized a $600m vessel owned by Russian metal tycoon Alisher Usmanov in Hamburg.

On Thursday, Mr Usmanov was one of two more Russians sanctioned by the UK .

The BBC understands that some oligarchs sanctioned by the European Union are "shocked" to find their debit cards no longer function, and they are now relying on using cash from safes.

The French acted quickly on Wednesday when customs officers noticed that Mr Sechin's 88-metre "Amore Vero" - which translates as "true love" - was "taking steps to sail off urgently".

• UK must target Putin's Mayfair lifestyle, says Labour

It arrived in in the Mediterranean port of La Ciotat in January and had been due to stay there while being repaired until 1 April.

It has also been reported that yachts belonging to five other Russian billionaires were heading to the Maldives, regarded as a safe home because it does not have an extradition treaty with the US.

UK slow to act?

The move by France came as the Prime Minister's official spokesman rejected claims that the UK has been slower at introducing sanctions than the EU or that legal hold-ups are preventing sanctions on Russian oligarchs.

He reiterated the UK's position that it was better to prioritise the measures that had the biggest economic impact, rather than targeting individuals just because they were well known.

Some oligarchs have been sanctioned by the government, which means their UK bank accounts are frozen and access to funds denied.

But others are taking advantage of any delay in adding them to its list.

A lawyer told the BBC that wealthy Russians were looking to move their money out of the UK before being hit by sanctions.

"The government has softened the blow by giving [wealthy Russians] time to move their money out," lawyer Nigel Kushner of W Legal told the BBC.

Speaking to the Today programme, he said: "Clients have been asking: 'Can I move my money out before I'm on the list?' I will say yes, that's perfectly legitimate."

The government's list of Russians sanctioned includes 195 individuals, but most predate the invasion of Ukraine.

Since the start of the war just 15 Russians have been added to the sanctions list, including President Vladimir Putin.

Security Minister Damian Hinds told the BBC that the wealth of Russian oligarchs with British investments would not prevent the UK Government from "going after" them.

"There will be more individuals (who) can be sanctioned," he told BBC Breakfast. "We will be going after people as needed."

Foreign Secretary Liz Truss said legal threats would not prevent the UK government sanctioning Russian oligarchs.

In an interview in Lithuania, she said: "We have to make sure we have the right evidence to put in place those sanctions.

"We will continue to work through our list, we will continue to sanction oligarchs and there is nowhere for any of Putin's cronies to hide."

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Growing numbers of firms pull back from russia, what sanctions could west still impose on russia.

Meanwhile, the London Stock Exchange (LSE) has suspended the shares of 28 Russian-linked companies because of sanctions introduced following the invasion of Ukraine.

They include green energy and metals company En+ Group run by US-sanctioned oligarch Oleg Deripaska, which is chaired by Conservative peer and former energy minister Greg Barker.

The decision to suspend the listings "has been based on sanctions and the ability to run an orderly market," said LSE chief executive David Schwimmer.

"If we see any other securities affected by sanctions then similar actions will take place."

Last week, a subsidiary of Russia's second largest bank, VTB, was suspended on the LSE as a result of sanctions.

However, a number of Russian companies, including Roman Abramovich-backed Evraz, continue to trade on the stock market despite criticism from politicians.

New economic sanctions have also been announced to stop Russian aviation and space companies getting access to the UK insurance market.

The move will limit the benefits Russian businesses can receive from their access to the global insurance and reinsurance market through Lloyd's, the world's biggest insurance market.

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Russian oligarch Alisher Usmanov’s $600M yacht seized in Germany: reports

Usmanov on tuesday confirmed that financial actions had been taken against him.

FOX Business Flash top headlines for March 2

Here are your FOX Business Flash top headlines for March 2.

Authorities in Germany this week seized a lavish $600 million yacht belonging to a Russian oligarch , according to reports.

The Dilbar, a 512-foot vessel belonging to billionaire Alisher Usmanov, was taken over by authorities while it was being refitted in a German shipyard, Forbes reported.

The business magazine learned about the move Wednesday, just two days after Usmanov was sanctioned by the European Union as part of its response to Russia’s invasion of Ukraine , the report said.

The EU has accused Usmanov of being a close ally of Russian President Vladimir Putin and a supporter of Russia’s 2014 invasion of Crimea, the Washington Examiner reported.

RUSSIA INVADES UKRAINE: LIVE UPDATES

Usmanov on Tuesday confirmed that financial actions had been taken against him.

The luxury yacht Dilbar, which was delivered to a Russian billionaire in 2016, is moored at the Blohm+Voss shipyard on Oct. 30, 2021, in Hamburg, Germany.  (Getty Images / Getty Images)

"On 28 February 2022 I became the target of restrictive measures imposed by the European Union I believe that such decision is unfair, and the reasons employed to justify the sanctions are a set of false and defamatory allegations damaging my honor, dignity, and business reputation," he wrote Tuesday.

The statement was posted on the website of the International Fencing Federation , where the former professional fencer served as president since 2008 until stepping down Monday, the Examiner reported .

The Dilbar had been undergoing work at a shipyard in Hamburg, Germany, since October, according to Forbes. Employees of Blohm+Voss, the shipbuilding firm overseeing the project, were not at work Wednesday, the report said.

German shipbuilder Lurssen, which built the Dilbar, claims it’s the world’s largest motor yacht by gross tonnage, weighing nearly 16,000 tons, according to Forbes.

When operating, the ship has a crew of 96 people. It features an 82-foot swimming pool, two helicopter pads, sauna, gym and beauty salon and has 12 suites for accommodating 24 guests.

Usmanov is a former stakeholder in the English soccer club Arsenal FC, having sold his 30% share of the club for nearly $700 million in 2018, the report said . 

Usmanov retained a connection to the English Premier League through sponsorship deals involving his companies but those deals were discontinued, the Examiner reported.

Super yacht Dilbar, owned by Russian billionaire Alisher Usmanov, departed the Port of Southampton in the United Kingdom, in June 2021. (Getty Images / Getty Images)

Separately, Russian oligarch Roman Abramovich said Wednesday that he will sell English club Chelsea FC and donate proceeds to Ukraine war victims.

Usmanov's fortune comes largely from investments in the production of iron ore, steel and consumer electronics, as well as smaller stakes in telecom, mining and media companies, Forbes reported.

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He also has numerous real estate assets in Europe, according to the report.

President Biden and other Western leaders have made Russian oligarchs a target of their efforts to put economic pressure on Putin as he continues the Russian invasion of Ukraine.

This week in Washington, House Republicans promoted a bill that would let U.S. citizens seize yachts, planes and other property belonging to Russian citizens in the U.S.

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.

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World’s largest yacht, linked to Russian billionaire, seized by Germany

The shipbuilder behind the world’s largest yacht by tonnage describes it as “one of the most complex and challenging yachts ever built,” with “entertainment and recreation spaces never before seen on” such a vessel, and an interior of “rare and exclusive luxury materials.”

It has two helipads and the largest yacht pool ever built, and it can accommodate 36 guests and 96 staff. And this week, it was impounded by German authorities for its ties to a Russian oligarch.

Germany’s federal police said Tuesday that “through extensive investigations despite offshore concealment,” it found that the yacht is owned by Gulbakhor Ismailova, the sister of Russian billionaire Alisher Usmanov.

After police confirmed with Brussels that the vessel’s owner was sanctioned, the superyacht — named Dilbar, after Usmanov’s mother, according to the U.S. Treasury Department — was impounded. It is being held in the Port of Hamburg in Germany.

Meanwhile, in Fiji, police are reportedly investigating a superyacht, suspected of being owned by Russian oligarch Suleyman Kerimov , which docked in the Pacific island nation this week.

The Dilbar, the yacht impounded in Germany, is registered in the Cayman Islands, according to the Treasury Department, and worth between $600 million and $735 million, with an estimated annual running cost of $60 million.

There are larger yachts by length. But at 15,917 tons, the Dilbar is the world’s largest yacht by internal volume, according to the ship’s maker, Lürssen, which touts its “classic profile with a light ivory hull and bronze accents.”

Usmanov is “known to be close to [Russian President Vladimir] Putin as well as Dmitry Medvedev, the Deputy Chairman of the Security Council of Russia and former President and Prime Minister of Russia,” the Treasury Department said, alleging that his ties to the Kremlin “enrich him and enable his luxurious lifestyle.”

In the early days of the invasion, President Biden warned Russian oligarchs: “We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets.”

U.S. hunt for Russian oligarchs’ huge fortunes faces barriers offshore

The United States said on March 3 that it had sanctioned Usmanov, alleging he was among the “key elites” allowing Putin to wage his war on Ukraine. Experts from the Organization for Security and Cooperation in Europe determined in a fact-finding report published Wednesday that Russia broke international humanitarian law by deliberately targeting civilians during its invasion of Ukraine. The United States and other nations have accused Russia of committing war crimes there, and Biden on Tuesday said Putin was committing “ genocide ” in Ukraine.

Usmanov, 68, is the 86th-richest person in the world, with an estimated fortune of $19.1 billion, according to the Bloomberg Billionaires Index . He has “vast holdings across multiple sectors” of Russia’s economy and internationally, the Treasury Department said, including a 49 percent stake in USM, a holding company that controls Russia’s largest iron ore producer, according to Bloomberg.

A representative for Usmanov was not immediately available, and USM did not immediately respond to a request for comment.

In the Fiji case, an official at the National Police Command and Control Center told Reuters that the captain of the vessel, which arrived Tuesday, was being questioned about how it came to Fiji without customs clearance.

Kerimov has been sanctioned by the United States, Britain and the European Union, but questions about the ownership of the luxury vessel remain. Police have seized the superyacht, called the Amadea, a 348-foot vessel worth $325 million, according to the Sydney Morning Herald.

The U.S. Embassy in Suva told the Fiji Times it is “cooperating with Fijian authorities on the matter” and is “committed to finding and seizing the assets of the oligarchs who have supported the Russian Federation’s brutal, unprovoked war of choice against Ukraine.”

Adela Suliman in London contributed to this report.

Superyacht seized as Europe cracks down on oligarchs

French authorities say they have seized a yacht linked to Igor Sechin, an ally of Russian President Vladimir Putin, as part of European Union sanctions over Russia’s invasion of Ukraine.

The French Finance Ministry said in a statement on Thursday that customs authorities carried out an inspection of the yacht Amore Vero in the Mediterranean resort of La Ciotat.

The boat arrived in La Ciotat on January 3 for repairs and was slated to stay until April 1. When French customs officers arrived to inspect the yacht, its crew was preparing an urgent departure even though the repair work wasn’t finished, the statement said.

The boat was seized to prevent its departure.

It says the boat is owned by a company that lists Mr Sechin as its primary shareholder. Mr Sechin runs Russian oil giant Rosneft.

It comes as Hamburg port authorities denied reports that a $600 million luxury yacht owned by Russian oligarch Alisher Usmanov had been seized after he was hit with EU sanctions.

According to the US business magazine Forbes, the 512-foot yacht, Dilbar, was taken in the northern port of Hamburg, with the magazine citing three sources in the yacht industry.

But a spokeswoman for the Hamburg Ministry of Economics and Innovation told German website Spiegel: “No yachts were confiscated in the Port of Hamburg.” The Dilbar was reported to be in Hamburg’s shipyard Blohm+Voss for repair work although it remains unclear if it will be allowed to leave.

Mr Usmanov was a major shareholder in Arsenal until 2018 and owns two properties in the UK , including a mansion in Highgate which he bought for £48million in 2008. On Wednesday Everton Football Club suspended all sponsorship deals with Russian companies associated with Mr Usmanov, who has close links with the club’s majority shareholder Farhad Moshiri.

The EU included the Uzbekistan-born billionaire on a list of 26 individuals with links to the Russian Government who will now face sanctions following Vladimir Putin’s assault on Ukraine.

In a statement issued on March 1, after the EU announced he had been sanctioned, Mr Usmanov said: “I believe that such a decision is unfair and the reasons employed to justify the sanctions are a set of false and defamatory allegations damaging my honour, dignity and business reputation.”

Mr Usmanov is not included in a list of nine Russian individuals targeted by the British Government for having close ties to Mr Putin and the Kremlin.

On Thursday a Minister defended the Government’s steps on sanctions insisting they were not running scared of lawyers representing UK linked oligarchs.

Security Minister Damian Hinds said the UK had announced a “comprehensive” programme of sanctions and economic measures. He told the BBC: “It’s not a competition, it’s something we do together to make sure we have maximum impact. We’ve always been clear it’s a ratchet approach. There will also be more [individuals]. We are not going to tell people in advance.”

But the Labour MP Chris Bryant, who has been an outspoken critic of the Government’s failure to widen its sanctions list along with other western governments, tweeted: “I don’t understand why we haven’t seized a single Putin oligarch yacht, palace or serious asset yet. Unlike our European neighbours.”

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German Police Raid Yacht of Russian Oligarch Alisher Usmanov

German police raided on Tuesday the luxury yacht of a Russian businessman suspected of laundering hundreds of millions via offshore companies, the Frankfurt Public Prosecutor's Office said. German media reported that the megayacht belongs to sanctioned Uzbek-born oligarch Alisher Usmanov.

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The search of the yacht followed last week’s raid of Usmanov’s luxurious properties located on the shore of Lake Tegernsee in southern Bavaria.

Authorities raided the villa in Bavaria and the megayacht Dilbar — one the largest luxury vessels in the world — searching for evidence of money laundering. Prosecutors suspect Usmanov has laundered hundreds of millions over the years.

The statement by the Frankfurt Prosecutor said the suspect conducted several financial transactions between 2017 and 2022, using “an extensive and complex network of companies, mainly in so-called offshore states.”

“There is a suspicion that the transferred sums of money originate from crimes, in particular from tax evasion,” it added.

The statement said that the operational measures also served to implement a request for legal assistance by the U.S. Department of Justice.

The Prosecutor’s Office said that 60 investigators searched the megayacht.

The Dilbar is stuck in northern Germany since authorities seized it in April in response to EU sanctions targeting individuals close to the regime of Russian President Vladimir Putin.

Previously moored in Hamburg, the vessel was moved to Bremen last week.

In theory, all of Usmanov’s assets in the EU should have been frozen on February 28, when the EU announced the sanctions in response to Moscow’s renewed invasion of Ukraine.

However, the OCCRP reported earlier this year that the oligarch has spent years shuffling money around the world among various relatives, shell companies and trusts to conceal their ownership.

For example, Usmanov’s sister, who is a gynecologist in Tashkent, is listed as the beneficial owner of 27 Swiss bank accounts holding hundreds of millions of dollars, most of which are connected to his business empire.

These machinations make it difficult to track down the oligarch’s assets and subject them to the sanctions.

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Russian oligarch Alisher Usmanov’s $600M yacht seized in Germany: reports

Russia-ukraine update: putin calls ukrainians defending country 'neo-nazis'.

Russian President Vladimir Putin gave a national address on Thursday, falsely accusing Ukrainians of intentionally forcing Russia to wage war in populated areas including schools and residential buildings. Putin also referred to soldiers fighting against the Russian forces as "neo-Nazis" and falsely accused them of taking innocent people hostage.

Authorities in Germany this week seized a lavish $600 million yacht belonging to a Russian oligarch, according to reports.

The Dilbar, a 512-foot vessel belonging to billionaire Alisher Usmanov, was taken over by authorities while it was being refitted in a German shipyard, Forbes reported.

The business magazine learned about the move Wednesday, just two days after Usmanov was sanctioned by the European Union as part of its response to Russia’s invasion of Ukraine , the report said.

The EU has accused Usmanov of being a close ally of Russian President Vladimir Putin and a supporter of Russia’s 2014 invasion of Crimea, the Washington Examiner reported.

Usmanov on Tuesday confirmed that financial actions had been taken against him.

"On 28 February 2022 I became the target of restrictive measures imposed by the European Union I believe that such decision is unfair, and the reasons employed to justify the sanctions are a set of false and defamatory allegations damaging my honor, dignity, and business reputation," he wrote Tuesday.

The statement was posted on the website of the International Fencing Federation , where the former professional fencer served as president since 2008 until stepping down Monday, the Examiner reported .

The Dilbar had been undergoing work at a shipyard in Hamburg, Germany, since October, according to Forbes. Employees of Blohm+Voss, the shipbuilding firm overseeing the project, were not at work Wednesday, the report said.

German shipbuilder Lurssen, which built the Dilbar, claims it’s the world’s largest motor yacht by gross tonnage, weighing nearly 16,000 tons, according to Forbes.

When operating, the ship has a crew of 96 people. It features an 82-foot swimming pool, two helicopter pads, sauna, gym and beauty salon and has 12 suites for accommodating 24 guests.

30 October 2021, Hamburg: The luxury yacht Dilbar has moored at the quay wall of the Blohm+Voss shipyard. The 156-metre-long yacht, which weighs almost 16,000 tonnes, was delivered by the Lürssen shipyard in Bremen to a Russian billionaire in 2016.

Usmanov is a former stakeholder in the English soccer club Arsenal FC, having sold his 30% share of the club for nearly $700 million in 2018, the report said . 

Usmanov retained a connection to the English Premier League through sponsorship deals involving his companies but those deals were discontinued, the Examiner reported.

Separately, Russian oligarch Roman Abramovich said Wednesday that he will sell English club Chelsea FC and donate proceeds to Ukraine war victims.

Usmanov's fortune comes largely from investments in the production of iron ore, steel and consumer electronics, as well as smaller stakes in telecom, mining and media companies, Forbes reported.

He also has numerous real estate assets in Europe, according to the report.

President Biden and other Western leaders have made Russian oligarchs a target of their efforts to put economic pressure on Putin as he continues the Russian invasion of Ukraine.

This week in Washington, House Republicans promoted a bill that would let U.S. citizens seize yachts, planes and other property belonging to Russian citizens in the U.S.

The crew of a Russian oligarch's $600 million superyacht was fired after sanctions meant wages couldn't be paid, reports say

• The crew of the Russian oligarch Alisher Usmanov's superyacht was fired on Monday, reports said.
• The company that staffed the boat said sanctions meant crew wages couldn't be paid, Forbes reported.
• Usmanov's estimated worth is $18.4 billion, and his yacht is valued at $600 million to $735 million.

The crew of the Russian oligarch Alisher Usmanov's 512-foot superyacht was fired after Western sanctions prevented wages from being paid to the vessel's staff, multiple outlets reported.

Sarnia Yachts, a yacht-management company in the UK that provided the crew for the $600 million vessel, Dilbar, said in an email to staff on Monday that "normal operation of the yacht has ceased," and that its crew had to be dismissed "as a result of the sanctions imposed," Forbes reported.

The West has imposed heavy sanctions on Russia, with the aim of crippling its economy and cutting off its military's funding, in an attempt to pressure President Vladimir Putin to end the invasion of Ukraine. The West has imposed sanctions not only on Russian banks but also on Russian elites and oligarchs , and they include the seizure of assets such as private jets and superyachts .

The European Union, UK , US , and Switzerland have all sanctioned Usmanov, freezing his assets and, in some cases, barring him from entering their territory. The EU said Usmanov "actively supported" the Russian government's policies of the destabilization of Ukraine.

Usmanov is worth an estimated $18.4 billion, the UK government said. He is the founder of USM Holdings, which has interests in metals, mining, and telecoms . His largest holding is in the Russian steel giant Metalloinvest. The European Union said he had "particularly close ties" to the Kremlin, calling him one of "Putin's favorite oligarchs."

The US has declared Dilbar "blocked property," which prohibits US staff from working on the vessel and bans the payment for its docking fees in US dollars. 

Sarnia said in Monday's email to staff that the sanctions meant that some of the companies supporting Dilbar's crew were "unable to continue their normal lines of business," Forbes reported. Sarnia added that it was unable to continue paying salaries to the ship's crew, and that their final wages would instead be paid by the boat's owner, Forbes said.

"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, the yacht's captain, wrote in a message to the crew, Bloomberg reported.

The US Treasury  said Dilbar's estimated value was between $600 million and $735 million, and that it cost an estimated $60 million per year to run.

Its builder, Lürssen, says it's the "largest motor yacht in the world by gross tonnage." The vessel is equipped with two helicopter pads and has its own 82-foot swimming pool.

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Forbes reported that the ship usually had 96 crew members on board, while Bloomberg put the figure at 80.

Sarnia said in the email to the crew that a small number of staff from Lürssen, which owns the Hamburg shipyard where Dilbar has been docked for a refitting since October, would instead look after the "safety and security" of the ship, Forbes reported.

Forbes also reported that Dilbar had been seized by German authorities on March 2, but it issued a correction the following day that said the ship hadn't been impounded. Hamburg's Ministry for Economy and Innovation told Bloomberg that Dilbar wouldn't be able to leave the port until it received an export waiver from Germany's federal customs agency.

Lürssen declined to comment. Sarnia Yachts and Hamburg's Ministry for Economy and Innovation did not immediately respond to Insider's request for comment.

Watch: BILL BROWDER: How sanctions on Russia hurt Putin's closest allies

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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 24/7 to discuss her reporting.

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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.

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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US alleges sanctioned Russian oligarch’s niece made payments for his $300M yacht

The yacht, known as the Amadea, was seized by officials in 2022, with the U.S. alleging billionaire Putin ally Suleiman Kerimov is the ultimate beneficial owner.

U.S. authorities claim to be one step closer to proving a seized $300 million mega yacht is owned by sanctioned Russian Suleiman Kerimov, according to new court filings that detail alleged payments for the boat from the oligarch’s niece.

The yacht, a 348-foot luxury vessel known as Amadea, was seized in Fiji in 2022 by local officials at the request of the United States, as part of the Justice Department’s ongoing efforts to identify and seize assets of sanctioned Russian oligarchs in the wake of Russia’s 2022 invasion of Ukraine.

Kerimov, known for throwing lavish parties and for his reportedly close relationship with Vladimir Putin, was sanctioned by the U.S. in 2018. Britain and the European Union later followed suit.

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However, since the Amadea’s seizure, another Russian oligarch, Eduard Khudainatov, who is not currently under U.S. sanctions, has claimed to be the yacht’s rightful owner — an assertion U.S. authorities deny.

Prosecutors allege that new documents show Kerimov’s niece, Alisa Gadzhieva, entered into a loan agreement with the company that owns the yacht, Errigal Marine Limited, and then made two payments to Khudainatov’s holding company, Invest International Finance Ltd, Intelligence Online reported .

“The United States takes sanction evasion seriously and will use all tools at its disposal to ensure that sanctioned individuals are held accountable for their crimes,” U.S. Attorney for the Southern District of New York Damian Williams said in an earlier statement . 

The ship belongs to an array of high-value luxury items linked to Kerimov, including private jets and sportscars, like a $650,000 Ferrari that Kerimov totaled in a fiery crash on the French Riviera in 2006. 

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The yacht’s seizure followed ICIJ’s Pandora Papers, which included revelations on the offshore financial empire of Kerimov and his closest associates. The investigation showed billions of dollars flowing through opaque offshore shell companies associated with Kerimov, and covert money flows tied to oligarchs and others close to the Kremlin. It also highlighted offshore professionals who have helped oligarchs secretly buy luxury assets like yachts and jets.

Gadzhieva’s brother, Kerimov’s nephew Nariman Gadzhiev, is also under U.S. sanctions for allegedly serving as an assistant and financial facilitator for Kerimov. ICIJ’s reporting showed that, in 2012, a firm registered in Gadzhiev’s name worked with Credit Suisse to secure a $67 million loan for the acquisition of a custom-built Boeing 737 Business Jet as well as a Bombardier Global Express jet. A few years later, an article in Forbes Russia described Kerimov as owning the same kind of Boeing jet.

The Amadea, which is currently in U.S. custody, has already cost over $7 million in taxpayer funds to maintain while the legal battle plays out, The Guardian reported.