andrei skoch yacht

How Russia’s ‘richest’ lawmaker used his partner’s secret companies to own two yachts and a Seychelles villa

Paradise Papers reveal how billionaire Andrei Skoch financed the acquisition of luxury assets including a yacht now targeted by U.S. sanctions, while offshore law firm Appleby disregarded his alleged ties to Russian criminal groups.

The $156 million, 324-foot yacht “Madame Gu” has an enclosed helicopter hangar, a gym and a beach club. It sports a Cayman Islands flag on the stern. And, at night, the hull lights up in bright blue or red.

The massive yacht’s last reported position was in the Persian Gulf, but that was three months ago, before the transponder was turned off and the vessel disappeared, according to a website that tracks marine traffic.

Why might a yacht want to keep its location secret? In the case of the “Madame Gu,” the likely answer can be found in a recent announcement by the U.S. government, and in a set of leaked files from an offshore law firm that powered Paradise Papers , a 2017 investigation by the International Consortium of Investigative Journalists.

The U.S. Treasury Department said last week that it had designated the vessel, along with a helicopter housed on it and a private plane, as “blocked property,” due to links to  twice-sanctioned Russian billionaire and politician Andrei Skoch. The restrictive measure bars U.S. entities from conducting any business with the yacht.

The order, which also named yachts and assets owned by other Russian elites, is intended to “degrade the key networks” they used to hide and move money around the globe, the Treasury Department said.

Skoch, whom Western media have dubbed the “richest man in the Duma,” has been a member of Russia’s national parliament since 1999.

The Paradise Papers, a trove of more than 13 million financial records leaked from offshore law firm Appleby and other sources, show that Skoch financed the acquisition of two yachts and a villa owned by his romantic partner, Elena Likhach, through a web of shell companies. In doing so, he joined a host of other Russian oligarchs — and power brokers worldwide — who control properties, boats and other luxury assets through a trusted proxy, often a relative or close friend.

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The documents show, too, the willingness of middlemen and enablers to please wealthy clients who want to keep secret their ties to valuable assets.

In 2013, an Appleby compliance officer warned two of her managers about Likhach’s association with Skoch, citing press reports linking the lawmaker to “criminal groups.”

“I believe the client appears to be one of the bad [politically exposed persons] which definitely pose a very high risk,” the officer wrote.

The managers dismissed her concerns. “I don’t see a problem with the business,” one manager wrote.

Appleby is one of the many elite firms that have provided services to powerful Russians despite their known links to the Kremlin. Other firms include American law firm Baker McKenzie and accounting giant PwC, ICIJ has previously reported.

Appleby and Skoch did not reply to ICIJ’s requests for comment.

‘Gifts’ from a billionaire

Confidential emails and ledgers show that Likhach became an Appleby client in 2007, when the firm helped her set up a Cayman Islands company with the purpose of owning a smaller yacht, worth $57 million, named “Gu”and later renamed “Lady Gulya.”

The yacht was sold in 2018, according to boating news sites, which did not provide details of the deal.

In 2012, Likhach hired Appleby to set up other shell companies : One, based in the Cayman Islands, bought “Madame Gu,” the luxury yacht identified by the U.S. government, for $277 million. Another shell, based in Jersey, managed the payroll for a 35-member crew.

Likhach also used two Seychelles shell companies to buy a villa in the island nation’s Four Seasons Resortand employ a chef and two housekeepers who were paid a monthly $6,300 salary, records show.

The request to create the Seychelles companies prompted Appleby compliance officers to examine the Russian client’s background as part of a routine due-diligence process required by law.

They described Likhach as a politically-exposed client because of her partner’s government  position.

In an internal memo, a compliance officer wrote that “gifts” from Skoch, “with whom she has children but is not married,” were also the source of funds for Likhach’s offshore activities.

The officer also noted in the memo that the Swiss lawyer representing Likhach said he “would not be able to write” the politician’s name in any document or email related to the offshore companies.

“It is possible that Elena is only holding the Company on behalf of Andrei Skoch,” the officer concluded.

Skoch made his fortune, now valued by Forbes magazine at about $6 billion, in mining, holding an indirect interest in a metal company owned by Alisher Usmanov, a sanctioned oligarch close to Putin.

Likhach’s lawyer, Stephan Arnet, confirmed that his firm provides legal services “with respect to her assets” but didn’t elaborate on the details, citing attorney-client privilege. Arnet told ICIJ in an email that the law firm is subject to Swiss anti-money laundering regulations and that “the sources of wealth of Ms. Elena Likhach are verified, among the others, by other reputable financial institutions.”

“We neither know nor represent Mr. Andrei Skoch and never did so,” Arnet added.

In 2017, ICIJ’s Paradise Papers investigation exposed secret offshore deals of politicians and fraudsters and revealed how Appleby sometimes failed to keep out questionable clients . The investigation was based on leaked documents obtained by German newspaper Süddeutsche Zeitung and shared with ICIJ.

Appleby did not provide ICIJ with answers to detailed questions at the time. Instead, it released a media statement online that said the firm is committed to high standards and rejected any allegations of wrongdoing by the company or its clients.

The U.S. sanctioned Skoch for the first time in 2018, alleging he had “longstanding ties to Russian organized criminal groups,” which he has denied.

After Russia invaded Ukraine in February, the U.S. sanctioned him again along with dozens of other politicians, businessmen and companies allegedly connected with the Kremlin. The European Union, the United Kingdom and Switzerland, where Likhach’s attorney resides, added most members of the Duma to the lists of sanctioned individuals.

Likhach, who is listed as a housewife in the leaked files, has not been sanctioned.

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MADAME GU Yacht – Exclusive $150 Million Superyacht

The MADAME GU yacht is a 99-meter masterpiece built in 2013. With its unique design and large size, she is a yacht that stands out from the crowd.

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MADAME GU yacht interior

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MADAME GU yacht is a true masterpiece of design and engineering. Built in 2013 by Feadship. This 99-meter superyacht it a remarkable vessel that stands out from the rest.

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Sanctioned Russian oligarch yacht in Dubai as pressure grows

The Madame Gu superyacht, owned by Russian parliamentarian Andrei Skoch, is docked at Port Rashid terminal, in Dubai, United Arab Emirates, Thursday, June 23, 2022. The sleek $156 million yacht belonging to Skoch, a sanctioned Russian oligarch and parliamentarian, is the latest reminder of how the sheikhdom has become a haven for Russian money amid Moscow’s war on Ukraine. (AP Photo/Kamran Jebreili)

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DUBAI, United Arab Emirates (AP) — A sleek $156 million superyacht belonging to a sanctioned Russian oligarch and parliamentarian is now docked in Dubai, the latest reminder of how the skyscraper-studded sheikhdom has become a haven for Russian money amid Moscow’s war on Ukraine.

The 98-meter (324-foot) Madame Gu, which has a helicopter pad, gym, beach club and elevator, remained moored off Dubai’s Port Rashid on Thursday in what has become a test for the close partnership between the United States and United Arab Emirates.

The vessel, with an eye-catching blue hull and $1 million annual paint job price tag, is owned by Andrei Skoch, one of the wealthiest men in Russia’s Duma. A steel magnate, Skoch’s fortune is valued at about $6.6 billion, according to Forbes. Attempts to reach Skoch for comment were not successful.

Like sanctioned Russian billionaire Andrey Melnichenko’s Motor Yacht A docked in the northern emirate of Ras al-Khaimah , the appearance of the Madame Gu in Dubai shows how Russian oligarchs have parked their assets in the UAE even as Western governments increasingly enforce sanctions and American pressure mounts on its Gulf Arab ally to follow suit.

The U.S. Treasury first sanctioned Skoch in 2018 over his role in government and alleged “longstanding ties to Russian organized criminal groups, including time spent leading one such enterprise.” Earlier this month, the Treasury designated the Madame Gu, along with its helicopter, barring American entities from conducting business with the superyacht. Skoch is also sanctioned by the European Union.

The Madame Gu, registered in the Cayman Islands, flew an Emirati flag on Thursday when Associated Press journalists observed the ship — a show of wealth dramatic enough to rival the Dubai’s famed Queen Elizabeth 2 cruise ship-turned-hotel floating just beside it. It also was moored just next to the $200 million megayacht Dubai, owned by the city-state’s ruler, Sheikh Mohammed bin Rashid Al Maktoum.

Satellite photos from Planet Labs PBC show the Madame Gu at its berth at Port Rashid beginning from March 25.

The UAE, home to glitzy Dubai and oil-rich Abu Dhabi, has declined to take sides in Moscow’s war and welcomed the influx of Russian money to its beach-front villas and luxury hotels. The UAE’s Foreign Ministry did not immediately respond to a request for comment.

The invasion of Ukraine sent Russia’s richest businessmen and politicians scrambling to save their significant assets from what became a widening dragnet. Superyachts tied to Russian oligarchs have taken on outsized significance in the Western crackdown that aims to exert pressure on President Vladimir Putin to change course in Ukraine.

Authorities across Europe and elsewhere have seized yachts owned by sanctioned Russian billionaires on a U.S. sanctions list. Earlier this month for instance, the U.S. won a legal battle in Fiji to confiscate a $325 million Russian-owned superyacht.

Other U.S. allies, including Germany, the United Kingdom, France and Italy, are involved in trying to collect and share information with Washington against Russians targeted for sanctions, the White House says.

One of a shrinking number of countries where Russians can still fly directly, the UAE has chosen not to impose sanctions on Moscow or freeze the assets of Russian billionaires relocating to the emirate.

An apparent influx of superyachts and private planes tied to Russian’s wealthy so far have avoided scrutiny in a country that has long been a magnet for foreign money — legal and otherwise .

But their increasingly visible presence appears to be frustrating Washington.

This month, a U.S. court ordered the seizure of two aircraft worth over $400 million believed to be owned by sanctioned Russian oligarch Roman Abramovich. The former Chelsea soccer club owner’s Boeing 787 Dreamliner is now in the UAE, the court filing said.

In a House hearing Wednesday, U.S. Assistant Secretary of State for Near Eastern Affairs Barbara Leaf acknowledged the UAE had become a safe haven for Russian oligarchs linked to Putin.

“I’m not happy at all with the record at this point and I plan to make this a priority to drive to a better alignment, shall we say, of effort,” said Leaf, who once served as an ambassador to the UAE.

Deputy Treasury Secretary Wally Adeyemo, one of the main U.S. coordinators on the Russian sanctions strategy, visited Dubai and Abu Dhabi to meet with Emirati financial officials this week.

During a banking round table, he pleaded for increased vigilance.

“Despite this commitment (to prevent money laundering), the UAE — and other global financial hubs — continue to face the threat of illicit financial flows,” he said, according to readout from the Treasury Department.

Adeyemo warned of challenges that have emerged amid the war on Ukraine “for both governments seeking to hold Russia accountable and for financial institutions like yours that are responsible for implementing the financial sanctions we impose.”

Associated Press writer Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.

Sanctioned Russian's superyacht docked in Dubai

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Sanctioned Russian oligarch yacht in Dubai as pressure grows

Emirates oligarch's yacht.

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DUBAI, United Arab Emirates (AP) — A sleek $156 million superyacht belonging to a sanctioned Russian oligarch and parliamentarian is now docked in Dubai, the latest reminder of how the skyscraper-studded sheikhdom has become a haven for Russian money amid Moscow's war on Ukraine.

The 98-meter (324-foot) Madame Gu, which has a helicopter pad, gym, beach club and elevator, remained moored off Dubai's Port Rashid on Thursday in what has become a test for the close partnership between the United States and United Arab Emirates.

The vessel, with an eye-catching blue hull and $1 million annual paint job price tag, is owned by Andrei Skoch, one of the wealthiest men in Russia's Duma. A steel magnate, Skoch's fortune is valued at about $6.6 billion, according to Forbes. Attempts to reach Skoch for comment were not successful.

Like sanctioned Russian billionaire Andrey Melnichenko’s Motor Yacht A docked in the northern emirate of Ras al-Khaimah , the appearance of the Madame Gu in Dubai shows how Russian oligarchs have parked their assets in the UAE even as Western governments increasingly enforce sanctions and American pressure mounts on its Gulf Arab ally to follow suit.

The U.S. Treasury first sanctioned Skoch in 2018 over his role in government and alleged “longstanding ties to Russian organized criminal groups, including time spent leading one such enterprise.” Earlier this month, the Treasury designated the Madame Gu, along with its helicopter, barring American entities from conducting business with the superyacht. Skoch is also sanctioned by the European Union.

The Madame Gu, registered in the Cayman Islands, flew an Emirati flag on Thursday when Associated Press journalists observed the ship — a show of wealth dramatic enough to rival the Dubai’s famed Queen Elizabeth 2 cruise ship-turned-hotel floating just beside it. It also was moored just next to the $200 million megayacht Dubai, owned by the city-state's ruler, Sheikh Mohammed bin Rashid Al Maktoum.

Satellite photos from Planet Labs PBC show the Madame Gu at its berth at Port Rashid beginning from March 25.

The UAE, home to glitzy Dubai and oil-rich Abu Dhabi, has declined to take sides in Moscow's war and welcomed the influx of Russian money to its beach-front villas and luxury hotels. The UAE's Foreign Ministry did not immediately respond to a request for comment.

The invasion of Ukraine sent Russia’s richest businessmen and politicians scrambling to save their significant assets from what became a widening dragnet. Superyachts tied to Russian oligarchs have taken on outsized significance in the Western crackdown that aims to exert pressure on President Vladimir Putin to change course in Ukraine.

Authorities across Europe and elsewhere have seized yachts owned by sanctioned Russian billionaires on a U.S. sanctions list. Earlier this month for instance, the U.S. won a legal battle in Fiji to confiscate a $325 million Russian-owned superyacht.

Other U.S. allies, including Germany, the United Kingdom, France and Italy, are involved in trying to collect and share information with Washington against Russians targeted for sanctions, the White House says.

One of a shrinking number of countries where Russians can still fly directly, the UAE has chosen not to impose sanctions on Moscow or freeze the assets of Russian billionaires relocating to the emirate.

An apparent influx of superyachts and private planes tied to Russian's wealthy so far have avoided scrutiny in a country that has long been a magnet for foreign money — legal and otherwise .

But their increasingly visible presence appears to be frustrating Washington.

This month, a U.S. court ordered the seizure of two aircraft worth over $400 million believed to be owned by sanctioned Russian oligarch Roman Abramovich. The former Chelsea soccer club owner’s Boeing 787 Dreamliner is now in the UAE, the court filing said.

In a House hearing Wednesday, U.S. Assistant Secretary of State for Near Eastern Affairs Barbara Leaf acknowledged the UAE had become a safe haven for Russian oligarchs linked to Putin.

“I’m not happy at all with the record at this point and I plan to make this a priority to drive to a better alignment, shall we say, of effort,” said Leaf, who once served as an ambassador to the UAE.

Deputy Treasury Secretary Wally Adeyemo, one of the main U.S. coordinators on the Russian sanctions strategy, visited Dubai and Abu Dhabi to meet with Emirati financial officials this week.

During a banking round table, he pleaded for increased vigilance.

“Despite this commitment (to prevent money laundering), the UAE — and other global financial hubs — continue to face the threat of illicit financial flows," he said, according to readout from the Treasury Department.

Adeyemo warned of challenges that have emerged amid the war on Ukraine “for both governments seeking to hold Russia accountable and for financial institutions like yours that are responsible for implementing the financial sanctions we impose.”

Associated Press writer Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.

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How a Playground for the Rich Could Undermine Sanctions on Oligarchs

Allies of President Vladimir Putin, arriving on private jets and yachts, are still welcome in the U.A.E., which has yet to condemn the Ukraine invasion or enforce sanctions.

At least 38 businessmen or officials linked to Russia’s president own dozens of properties in Dubai collectively valued at more than $314 million. Credit... Christopher Pike/Bloomberg

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By David D. Kirkpatrick ,  Mona El-Naggar and Michael Forsythe

• March 9, 2022

Stretching into the Persian Gulf from the beaches and skyscrapers of Dubai is a man-made archipelago in the shape of a vast palm tree, its branchlike rows of islands lined with luxury hotels, apartments and villas.

Among the owners of those homes are two dozen close allies of President Vladimir V. Putin of Russia, including a former provincial governor and nuclear power plant manager, a construction magnate and former senator, and a Belarusian tobacco tycoon.

At least 38 businessmen or officials linked to Mr. Putin own dozens of properties in Dubai collectively valued at more than $314 million, according to previously unreported data compiled by the nonprofit Center for Advanced Defense Studies. Six of those owners are under sanctions by the United States or the European Union, and another oligarch facing sanctions has a yacht moored there. For now, they can count themselves lucky.

Since the invasion of Ukraine, much of the world has imposed sweeping sanctions on Russian financial institutions and the circle around Mr. Putin, and even notoriously secretive banking centers like Switzerland, Monaco and the Cayman Islands have begun to cooperate with the freezing of accounts, seizing of mansions and impounding of yachts.

But not Dubai, the cosmopolitan resort and financial center in the United Arab Emirates. Although a close partner to Washington in Middle Eastern security matters, the oil-rich monarchy has in recent years also become a popular playground for the Russian rich, in part because of its reputation for asking few questions about the sources of foreign money. Now the Emirates may undercut some of the penalties on Russia by continuing to welcome targeted oligarchs.

“Sanctions are only as strong as the weakest link,” said Adam M. Smith, a lawyer and former adviser to the U.S. Treasury Department office that administers such measures. “Any financial center that is willing to do business when others are not could provide a leak in the dike and undermine the overall measures.”

The Emirati stance is exposing tensions between the United States and several of its closest Arab allies over their reluctance to oppose the Russian invasion. Asked for solidarity in a moment of crisis, the United Arab Emirates, Saudi Arabia and Egypt have instead prioritized relations with Moscow — the Emirates and Saudi Arabia by rebuffing American pleas for increased oil supplies to soothe energy markets, Egypt by muffling criticism of the invasion while proceeding with a $25 billion loan from Russia to finance a nuclear power plant.

“It should be a clarifying moment,” said Michael Hanna, U.S. program director for the nonprofit International Crisis Group. “That has to be pretty bracing.”

The U.A.E. may be the most conspicuous in its position, if only because it currently holds a rotating seat on the United Nations Security Council. The Emiratis abstained from an American-backed resolution denouncing the invasion, declining to criticize Russia. And Emirati officials have reassured Russians that their authorities will not enforce sanctions unless mandated by the United Nations — where Moscow’s veto ensures against it.

“If we are not violating any international laws, then nobody should blame Dubai, or the U.A.E., or any other country for trying to accommodate whoever comes in a legitimate way,” said Abdulkhaleq Abdulla, a political analyst close to the U.A.E.’s rulers. “So what’s the big deal? I don’t see why the West would complain.”

Russians in Dubai say they appreciate the hospitality. “Having a Russian passport or Russian money now is very toxic — no one wants to accept you, except places like Dubai,” said a Russian businessman who took refuge there, speaking on the condition of anonymity for fear of alienating Emirati authorities. “There’s no issue with being a Russian in Dubai.”

He shared an electronic invitation circulating among Russians in the city: a rooftop cocktail party for venture capitalists and cryptocurrency start-ups. (The Treasury Department on Monday warned banks to watch for Russians using cryptocurrency to evade sanctions.)

An Arab businessman who rents high-end furnished apartments in Dubai described “incredible demand” from Russians since the invasion, with one family taking an indefinite lease on a three-bedroom waterfront apartment for $15,000 a month and more than 50 other individuals or families seeking accommodations.

The Center for Advanced Defense Studies, a Washington-based nonprofit that collects data on global conflicts, found that Putin allies owned at least 76 properties in Dubai, either directly or under the name of a close relative, and said that there were likely many others who could not be identified.

The center’s list of those under sanctions includes: Aleksandr Borodai, a Duma member who acted as prime minister of a Ukrainian province in 2014 when it was taken over by Russian-backed separatists; Bekkhan Agaev, a Duma member whose family owns a petroleum company; and Aliaksey Aleksin, the Belarusian tobacco titan. A handful of oligarchs on the list own homes valued at more than $25 million each.

Maritime records show that in recent days the yacht belonging to the sanctioned oligarch Andrei Skoch, a steel magnate and Duma member, has been moored off Dubai.

A Bombardier business jet owned by Arkady Rotenberg, another Russian billionaire under sanctions, landed on Friday, and the planes and boats of other oligarchs discussed as possible targets have been coming and going, too. The yachts of at least three other oligarchs are currently docked in Dubai. The 220-foot vessel of a Russian metals magnate appears to be en route from the Seychelles. The Boeing 787 Dreamliner owned by Roman Abramovich, the Russian-born owner of Britain’s Chelsea soccer team, took off from the airport on Friday. A 460-foot superyacht belonging to another oligarch set sail the same day; he was added to Europe’s sanctions list on Wednesday.

Moscow has been quietly building closer ties to the U.A.E. and other Western-leaning Arab states for a decade, seeking to capitalize on complaints about Washington.

The autocrats who dominate the region were outraged by Washington’s statements of support for the Arab uprisings in 2011. The Arab monarchs of the Persian Gulf cried betrayal at the Obama administration’s deal with their adversary Iran over its nuclear program. Their frustration only grew when the Trump administration did nothing to retaliate for a series of apparent Iranian attacks against them.

Now people close to those rulers say that their neutral responses to the invasion of Ukraine should teach Washington not to take them for granted.

“The automatic expectation in D.C. is that ‘you Saudis now must jump on the bandwagon and isolate Russia as we have,’” said Ali Shihabi, a Saudi political analyst close to the royal court, but the kingdom cannot “burn” its relationship with Russia just to please the White House.

“Our relationship is there with the Americans,” he added, “but it is not going to be a monogamous relationship because the Americans are unreliable.”

Others noted that the Kremlin had overlooked human rights abuses that Washington often criticized, and that relations with an alternative power gave the Arab states more leverage. “It’s useful for Arab countries to take this stance,” said Mustapha Al-Sayyid, a political science professor at Cairo University.

Russia has sold weapons to all three countries, and a few Saudi military officers have begun training in Russia . Egypt and the U.A.E. have cooperated with Russia for several years in Libya, where all three have backed the same strongman in Eastern Libya in his conflict with the U.N.-backed government. Egypt provided bases near the border, the U.A.E. sent fighter planes and Russia deployed mercenaries.

Crown Prince Mohammed bin Zayed, the de facto ruler of the United Arab Emirates, visited Moscow at least six times between 2013 and 2018. When Mr. Putin visited the Emirati capital, Abu Dhabi, the next year, the city lit up landmarks in Russian colors and repainted its police cars with Russian banners and Cyrillic script.

Other entanglements bind their interests too, including the ongoing civil war in Yemen pitting partisans backed by Saudi Arabia and the United Arab Emirates against others favored by Iran.

During a U.N. Security Council session last week, Russia unexpectedly supported an Emirati resolution to label the Iranian-backed fighters “terrorists.” Analysts sympathetic to the U.A.E. argued that it had won Moscow’s backing in part by abstaining from the resolution denouncing the Ukraine invasion.

Russia, though, has also used financial ties to pull the Gulf Arabs closer, partly through its state-controlled Russian Direct Investment Fund and its chief executive, Kirill Dmitriev, who last week was added to the sanctions list.

Created in 2011 to lure foreign capital to invest in Russia in partnership with its government, the fund initially courted Wall Street. Mr. Dmitriev, a Russian with degrees from Stanford University and the Harvard Business School, had once worked at a U.S. government-sponsored fund to invest in the former Soviet Union. For the Russian fund, he recruited an advisory board that included Stephen Schwarzman of the Blackstone Group and Leon Black of Apollo Global Management.

But the American financiers and money fled when Russia invaded Crimea in 2014. So Mr. Dmitriev turned east — securing investments worth more than $5 billion from the U.A.E. and more than $10 billion from Saudi Arabia. He also acted as an informal Russian envoy to the Gulf monarchs, talking foreign policy as well as money.

Mr. Dmitriev’s double role became especially clear after the 2016 U.S. presidential election. The Mueller report on Russian interference in the vote detailed how he had worked with Emirati leaders to try to connect on behalf of the Kremlin with those around Donald J. Trump — eventually preparing a short plan for “reconciliation” with Russia and getting it into the hands of Jared Kushner, the former president’s son-in-law and adviser, who shared it with top White House officials.

Rich Russians, though, have reasons other than geopolitics to buy property in Dubai. The sheikhs who ruled the city-state have long sought to attract business by allowing a high degree of secrecy about asset ownership and by sharing only limited information with other jurisdictions, said Maíra Martini, a researcher with Transparency International, which campaigns against corruption.

“Dubai has been a key player in most of the big corruption or money-laundering schemes in recent years,” she said, citing recent scandals involving Russian businessmen, the daughter of Angola’s former president, top Namibian fishing regulators and South Africa’s Gupta family.

Citing such failings, the Financial Action Task Force, an influential money-laundering watchdog, on Friday put the United Arab Emirates on its “gray” list.

A thriving colony of Russians in Dubai has made it a welcoming alternative to oligarch gathering spots like London’s Kensington neighborhood or the French Riviera. The Russian Business Council , a Dubai-based nonprofit, estimates that there are about 3,000 Russian-owned Emirati companies. The Russian embassy in the United Arab Emirates has said that about 100,000 Russian-speakers live in the country. About a million Russians visit each year. A Russian broadcaster, Tatiana Vishnevskaya , has built a career out of promoting life and commerce in Dubai. New real estate developments pop up “like mushrooms on a sunny day after the rain,” she recently told a tourism industry website.

A Russian company, the Bulldozer Group, owns a dozen upscale restaurants and nightclubs in Dubai, including the local Cipriani outpost. Caviar Kaspia, a French-Russian night spot, boasts of the “largest Vodka selection in Dubai.”

As in the current campaign against Russia, Dubai resisted earlier American-led sanctions against Iran, starting in 2006. Although the United Arab Emirates and Iran are opponents in regional politics, Dubai and Iran sit a short boat ride away across the Strait of Hormuz, and share trade and family ties going back centuries.

But after six years, pressure from Washington and the emirate of Abu Dhabi forced greater compliance on sanctions from Dubai’s big financial institutions, said Esfandyar Batmanghelidj, an economist at the European Council on Foreign Relations. Yet since 2019, when Abu Dhabi began reopening diplomatic contacts with Tehran, Emirati trade with Iran has quietly risen again, he said.

“They can calibrate it and turn it up and down,” Mr. Batmanghelidj added.

Emirati officials, seeking to get off the money-laundering “gray” list, are already pledging new transparency measures. Those steps could also limit the ability of sanctioned oligarchs to hide assets or move money in Dubai.

Cutting some Russian institutions off the international system for electronic bank transfers, called SWIFT, has already made it harder for them to do business with Dubai. And if Washington threatens to restrict Emirati access to the American financial system — as during the early years of the Iran sanctions — that could motivate the Emiratis to cooperate more.

Still, Washington often weighs its partnerships in military and intelligence matters against other priorities, including the enforcement of sanctions.

“The question,” said David H. Laufman, a lawyer who previously worked as a senior official in the national security division of the Justice Department, “is going to be how hard the Biden administration leans on the U.A.E. to get with the program.”

Sarah Hurtes contributed reporting.

David D. Kirkpatrick is an investigative reporter based in New York and the author of “Into the Hands of the Soldiers: Freedom and Chaos in Egypt and the Middle East.“ In 2020 he shared a Pulitzer Prize for reporting on covert Russian interference in other governments and as the Cairo bureau chief from 2011 to 2015 he led coverage of the Arab Spring uprisings. More about David D. Kirkpatrick

Mona El-Naggar is an international correspondent, based in Cairo. She writes and produces stories that cover politics, culture, religion, social issues and gender across the Middle East. More about Mona El-Naggar

Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

Our Coverage of the War in Ukraine

News and Analysis

President Volodymyr Zelensky of Ukraine has signed into law three measures aimed at replenishing the ranks of his country’s depleted army, including lowering the draft age to 25 .

With continued American aid to Ukraine stalled and against the looming prospect of a second Trump presidency, NATO officials are looking to take more control of directing military support from Ukraine’s allies  — a role that the United States has played for the past two years.

Exploding drones hit an oil refinery and munitions factory far to the east of Moscow, in what Ukrainian media and military experts said was among the longest-range strikes with Ukrainian drones so far in the war .

Conditional Support: Ukraine wants a formal invitation to join NATO, but NATO has no appetite for taking on a new member  that, because of the alliance’s covenant of collective security, would draw it into the biggest land war in Europe since 1945.

“Shell Hunger”: A desperate shortage of munitions in Ukraine  is warping tactics and the types of weapons employed. What few munitions remain are often mismatched with battlefield needs as the country’s forces prepare for an expected Russian offensive this summer.

Turning to Marketing: Ukraine’s troop-starved brigades have started their own recruitment campaigns  to fill ranks depleted in the war with Russia.

How We Verify Our Reporting

Our team of visual journalists analyzes satellite images, photographs , videos and radio transmissions  to independently confirm troop movements and other details.

We monitor and authenticate reports on social media, corroborating these with eyewitness accounts and interviews. Read more about our reporting efforts .

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U.S. Department of the Treasury

U.s. treasury severs more networks providing support for putin and russia’s elites.

Targeting key nodes of Russian attempts to evade unprecedented U.S. sanctions

Kremlin elites, luxury assets, and Putin’s favored yachts blocked

WASHINGTON – Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking further action to degrade the key networks used by Russia’s elites, including President Vladimir Putin, to attempt to hide and move money and anonymously make use of luxury assets around the globe. Today’s action targets a Kremlin-aligned yacht brokerage, several prominent Russian government officials, and a close Putin associate and money-manager, Sergei Roldugin, who is a custodian of President Putin’s offshore wealth. In order to further tighten and enforce existing sanctions, this action further identifies yachts and aircraft in which sanctioned Russian elites maintain interests.

“Russia’s elites, up to and including President Putin, rely on complex support networks to hide, move, and maintain their wealth and luxury assets,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson. “Today’s action demonstrates that Treasury can and will go after those responsible for shielding and maintaining these ill-gotten interests. We will continue to enforce our sanctions and expose the corrupt systems by which President Putin and his elites enrich themselves.”

Today’s actions were taken pursuant to Executive Orders (E.O.) 14024, E.O. 13685, and E.O. 13661, and further align the United States with its international partners and allies. Today’s designations were taken in tandem with the U.S. Department of State and the U.S. Department of Commerce. The U.S. Department of State imposed sanctions on five of Russia’s oligarchs and elites, including Maria Zakharova, the spokesperson of the Russian Ministry of Foreign Affairs; Alexey Mordashov, the leader of Severgroup and one of Russia’s wealthiest billionaires; and family members and entities associated with the oligarchs and elites. The U.S. Department of Commerce is adding 71 additional parties located in Russia and Belarus to the Entity List, further restricting the Russian military’s ability to obtain technologies and other items it needs to sustain aggression and project power.

PUTIN-LINKED YACHTS

Today, OFAC is identifying Russia-flagged Graceful and Cayman Islands-flagged Olympia , as blocked property in which President Vladimir Putin has an interest. On February 25, 2022, OFAC designated Vladimir Putin pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of the Government of the Russian Federation (GoR). While the leader of Russia, Putin has taken numerous trips on these yachts, including a 2021 trip in the Black Sea where he was joined by Alyaksandr Lukashenka, the OFAC-designated corrupt ruler of Belarus, who has supported Russia’s war against Ukraine.

Olympia (Photo credit: Feadship)

OFAC also designated the following entities and an individual who were registered owners of or involved in the management of either Graceful or Olympia. OFAC designated Russian Federation state-owned, Cyprus-registered SCF Management Services Cyprus Ltd pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, the GoR. OFAC designated Ironstone Marine Investments , JSC Argument , and O’Neill Assets Corporation pursuant to E.O. 14024 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Vladimir Putin. OFAC additionally designated JSC Argument’s sole shareholder and former director, Andrei Valeryevich Gasilov , pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of JSC Argument.

OFAC also targeted two additional yachts linked to Putin, Shellest and Nega , which are owned by the Russian company Non-Profit Partnership Revival of Maritime Traditions (Revival of Maritime Traditions) and its Russian subsidiary Limited Liability Company Gelios (LLC Gelios), respectively. OFAC designated Revival of Maritime Traditions pursuant to E.O. 14024 for operating or having operated in the marine sector of the Russian Federation economy. OFAC designated LLC Gelios pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Revival of Maritime Traditions. OFAC identified Shellest as blocked property in which Revival of Maritime Traditions has an interest and identified Nega as blocked property in which LLC Gelios has an interest. Shellest periodically travels to the coast where President Putin’s infamous Black Sea Palace is located, and President Putin uses Nega for travel in Russia’s North.

Shellest (Credit: Romeo United Yachts)

KREMLIN-ALIGNED YACHT BROKERAGE

Imperial Yachts SARL (Imperial Yachts) is a yacht brokerage that offers a variety of services relating to superyachts, including their design, order, charter, and management. In addition to their head office in Monaco, Imperial Yachts maintains an office in Russia’s capital and provides yacht-related services to Russia’s elites, including those in President Putin’s inner circle. When not in use by their owners, superyachts can be offered for charter through businesses such as Imperial Yachts, generating income for the owners, who are in some cases Russia’s oligarchs. Imperial Yachts conducts business with U.S.-designated oligarchs, including through providing management services to at least one yacht linked to an OFAC-designated individual. 

OFAC designated Monaco-based Imperial Yachts and its Russian CEO, Evgeniy Borisovich Kochman (Kochman), pursuant to E.O. 14024 for operating or having operated in the marine sector of the Russian Federation economy. OFAC also designated Imperial Yachts pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Kochman. 

Additionally, OFAC identified the largest yacht currently available for charter through Imperial Yachts, Flying Fox , as blocked property in which Imperial Yachts has an interest.

Flying Fox (credit: Tom Drust )

The entities OOO Nord Marine , OOO Yakht-Treid , OOO Bilding Management , and OOO Nord Marin Inzhiniring were designated pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, Kochman.

PUTIN’S MIDDLE-MAN

Sergei Pavlovich Roldugin (Roldugin) is a close friend and part of a system that manages President Putin’s offshore wealth. The two have known each other for over four decades, and Roldugin is the godfather to one of Putin’s daughters. Roldugin is a cellist, conductor, and the artistic director of the St. Petersburg Music House, a state-owned cultural institution in Russia. Elena Yuryevna Mirtova (Mirtova), Roldugin’s wife, is a soprano opera singer and actress who has performed alongside her husband. Roldugin was previously designated by the European Union, United Kingdom, Australia, and New Zealand.

Roldugin was designated today pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of the GoR. Mirtova was designated pursuant to E.O. 14024 for being a spouse or adult child of Roldugin.

ADDITIONAL YACHTS AND AIRCRAFT

OFAC designated San Marino-based SRL Skyline Aviation (Skyline) pursuant to E.O. 13685 for operating in the Crimea region of Ukraine and identified aircraft T7-OKY as property in which Skyline has an interest. As part of a scheme involving jets owned by VTB Bank and controlled by the chief of staff of VTB Bank’s CEO, Andrei Kostin (Kostin), the jets were transferred to an anonymous offshore company. Kostin’s chief of staff still manages these jets, which Skyline operated. OFAC designated VTB Bank pursuant to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on behalf of, directly or indirectly, the GoR, and for operating or having operated in the financial services sector of the Russian Federation economy. OFAC designated Kostin in 2018 pursuant to E.O. 13661 for being an official of the GoR.

As part of today’s action, OFAC also identified a yacht named Sea Rhapsody as property in which Kostin has an interest. Priced at $65 million, Kostin’s yacht Sea Rhapsody is flagged in the Marshall Islands and has an International Maritime Organization (IMO) number of 1010648.

T7-OKY (" T7-OKY@ZRH;21.01.2020 " by  https://www.flickr.com/photos/46423105@N03  is licensed under CC BY-NC-SA 2.0. )

OFAC identified Cayman Islands-flagged yacht, Madame Gu , helicopter 3A-MGU housed on the yacht, and private plane P4-MGU as blocked property in which twice-designated Russian Federation Duma member and billionaire Andrei Vladimirovich Skoch (Skoch) has an interest. The 324-foot Madame Gu (IMO 1011331), which is valued at $156 million, includes an elevator, beach club, gym, and requires significant maintenance and repair, including approximately $1 million for painting annually. OFAC designated Skoch in 2022 pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of the GoR and in 2018 pursuant to E.O. 13661 for being an official of the GoR.

3A-MGU taking off from the deck of Madame Gu (Dutch Yachting via Youtube )

P4-MGU (" Global Jet Luxembourg, P4-MGU, Airbus A319-115 CJ " by Anna Zvereva is licensed under CC BY-SA 2.0. )

TOP RUSSIAN GOVERNMENT OFFICIALS

Yury Slyusar (Slyusar) is the President of United Aircraft Corporation (UAC), a Russian state-owned company and major supplier of aircraft to Russia’s military, and one of the leading actors in Russia’s industry and defense sector with close ties to the GoR. UAC has supplied aircraft that have been used by Russia’s military to threaten and destabilize Ukraine. UAC is 88 percent owned by Rostec, a Russian stated-owned defense company subject to the debt-related prohibitions of Directive 3 under E.O. 13662.

Slyusar was designated today pursuant to E.O. 14024 for having been a leader, official, senior executive officer, or member of the board of directors of the GoR and for operating or having operated in the aerospace sector of the Russian Federation economy. Slyusar has previously been designated by the European Union, Australia, Canada, New Zealand, and the United Kingdom.

Vitaly Savelyev (Savelyev) is the Minister of Transport of the Russian Federation and a member of the Board of Directors of Russian Railways; he also serves as the Chairman of the Board of Directors of Aeroflot. Savelyev was designated today pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of the GoR. Savelyev has previously been designated by the European Union and the United Kingdom.

Maxim Reshetnikov (Reshetnikov) is the Minister of Economic Development of the Russian Federation. Reshetnikov serves on the board of sanctioned Russian entities, including VTB Bank, VEB.RF, and Russian Railways. Reshetnikov was designated today pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of the GoR. Reshetnikov has previously been designated by the European Union, Australia, Canada, New Zealand and the United Kingdom.

Irek Envarovich Faizullin (Faizullin) is the Minister of Construction, Housing and Utilities of Russia and is a member of the board of directors of Russian Railways. Faizullin was designated today pursuant to E.O 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of the GoR. Faizullin has previously been designated by the European Union and the United Kingdom.

Dmitriy Yuryevich Grigorenko (Grigorenko) is the Deputy Prime Minister and Chief of the Government Staff of Russia. Grigorenko was designated today pursuant to E.O. 14024 for being or having been a leader, official, senior executive officer, or member of the board of directors of the GoR. Grigorenko has previously been designated by the European Union, Australia, Canada, New Zealand and the United Kingdom.

SANCTIONS IMPLICATIONS

As a result of today’s action, all property and interests in property of the designated persons above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, 50 percent or more by one or more blocked persons are also blocked. All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited, unless authorized by a general or specific license issued by OFAC, or exempt. These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.

For identifying information on the individuals and entities sanctioned today, click here.

US moves to seize Russian oligarch's $90 million private jet

Andrei Skoch is reportedly worth more than $6 billion.

Federal prosecutors have moved to seize the $90 million Airbus A319 used as a private jet by a Russian businessman and parliamentarian known as the "richest man in the Duma."

Andrei Skoch has been a member of Russia's national parliament since 1999 and under U.S. sanctions since 2018 because of his "longstanding ties to Russian organized criminal groups, including time spent leading one such enterprise," according to the Treasury Department.

After Russia invaded Ukraine , the U.S. issued further sanctions against Skoch and his assets for "support[ing] the Kremlin's efforts to violate Ukraine's sovereignty and territorial integrity."

MORE: Russia-Ukraine live updates: Meeting with Jessica Chastain 'valuable,' Zelenskyy says

"Once again US law enforcement has demonstrated that international shell games will not suffice to hide the fruits of corruption and money laundering," said Andrew Adams, director of the Justice Department's KleptoCapture task force that has been moving to seize assets of sanctioned Russian oligarchs.

Skoch came to own the Airbus through a series of shell companies and trusts tied to his romantic partner, according to a seizure warrant issued by federal prosecutors in Manhattan.

U.S. dollar transactions were made to pay for the registration of the Airbus in Aruba and for aviation insurance premiums, each of which was a necessary expense to maintain and operate the Airbus, the document said.

The private jet is currently located in Kazakhstan, according to federal prosecutors.

Skoch is part owner of the steel company Lebedinsky Mining, which is now part of the conglomerate Metalloinvest.

MORE: Sanctioned Russian oligarch yacht in Dubai as pressure grows

The Justice Department's KleptoCapture task force is targeting sanctioned Russian oligarchs and their assets over their support for Russia's unprovoked war against Ukraine.

"The sanctions levied by the U.S. government and the work of this task force demonstrate to these offensively wealthy oligarchs who support Russia's military aggression that they are not untouchable, and we are dramatically impacting their way of life," said FBI Assistant Director in Charge Michael Driscoll.

The 56-year-old father of 10 already moved his $156 million superyacht, Madame Gu, to Dubai in order to avoid its seizure, according to The Associated Press . The yacht is 98 meters long and has a helicopter pad

Skoch is currently worth $6.2 billion, according to Forbes' World's Billionaires List .

ABC News' Mark Osborne contributed to this report.

Related Topics

Not just his $156 million superyacht, the U.S. authorities want to seize this Russian steel billionaire’s private jet and custom helicopter. One of the first yachts to go dark, this lavish 325 feet vessel has a transforming helipad that neatly folds into a squash court.

Skoch served in the Soviet Army in 1984 and later built a memorial to fallen Russian soldiers in Lushun, China, formerly known as Port Arthur, the site of the bloodiest battles of the 1904-05 Russo-Japanese War. The benevolent Russian provided veterans of the Great Patriotic War from Belgorod region with personal VAZ-2105 (3000 vehicles for 260 million rubles). It is said, Skoch also donated over $117 million, a portion of which was earmarked for the restoration of war monuments in Russia.

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Russian oligarchs are escaping sanctions by taking their private jets and yachts to places like Dubai and the Maldives

• Russian oligarchs and billionaires have been hit with sanctions over Russia's invasion of Ukraine.
• Some have moved their yachts or sought out property in Dubai to avoid seizures.
• "No one wants to accept you, except places like Dubai," one Russian businessman told the NYT.

Since much of the West imposed harsh economic sanctions on Russia over the unprovoked invasion of Ukraine, some Russian oligarchs have scrambled to try and escape the sanctions leveled against them.

The US, UK, and European Union were among the countries to impose historically severe sanctions , targeting Russian banks, airlines, Russian President Vladimir Putin, and many in his inner circle . Financial sanctions targeted at oligarchs had cost the Russian elite more than $80 billion as of last week.

Italy seized yachts and villas worth $156 million belonging to Russian oligarchs, The Associated Press reported Saturday. Days earlier France said it had seized a $120 million superyacht  belonging to a close Putin ally.

But some Russian billionaires have found refuge in places that have not imposed sanctions, or that do not extradite to the US.

In Dubai, for example, there is currently "incredible demand" from Russians for luxury apartments, like a $15,000 per month 3-bedroom on the water, one businessman in the United Arab Emirates told The New York Times .

A yacht owned by oligarch Andrei Skoch — a steel magnate and government official in Russia who was sanctioned by the US — has been camped in waters off Dubai, The Times reported. A jet belonging to another billionaire sanctioned by the US, Arkady Rotenberg, who has also known Putin since childhood, arrived to the city on Friday.

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Boats and planes belonging to other oligarchs who may face sanctions have been arriving in Dubai or appear to be en route, according to The Times. On March 1, three yachts belonging to Russian billionaires were already in UAE waters, Forbes reported.

The UAE was likely to attract sanctioned oligarchs, Reuters reported last week, due to its loose laws related to money laundering and its relatively neutral stance on Russia's assault of Ukraine.

During the first United Nations Security Council vote opposing the invasion on February 25, the UAE abstained. Though it supported a nonbinding resolution days later, the UAE has not come out in strong opposition to Russia.

An unnamed Russian businessman told The Times: "Having a Russian passport or Russian money now is very toxic — no one wants to accept you, except places like Dubai."

"There's no issue with being a Russian in Dubai," he continued.

Russian oligarchs and billionaires seeking to escape sanctions have also gone to the Maldives, a nation of islands in the Indian Ocean that does not have an extradition treaty with the US .

At least five superyachts owned by Russian billionaires were there as of last week, according to maritime data seen by Reuters. Bloomberg  reported last week that the four largest superyachts in the Maldives were owned by Russians.

Some Russian elites have tried to avoid sanctions in other ways, including scrambling to try and sell off their assets .

Watch: The rise and fall of Russian oligarchs

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United States Obtains Warrant for Seizure of Airplane of Sanctioned Russian Oligarch Andrei Skoch, Worth Over $90 Million

The United States of America has been authorized to seize an Airbus A319-100 (the Airbus) owned and controlled by sanctioned Russian oligarch Andrei Skoch, pursuant to a seizure warrant from the U.S. District Court for the Southern District of New York, which found that the airplane is subject to seizure and forfeiture based on probable cause of violation of the federal anti-money laundering laws.

According to the seizure warrant and affidavit sworn out today:

Pursuant to the International Emergency Economic Powers Act (IEEPA), the National Emergencies Act (NEA), and Executive Orders Issued by the President of the United States, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Andrei Skoch as a Specially Designated National (SDN) on or about April 6, 2018 “for being an official of the Government of the Russian Federation,” “a deputy of the Russian Federation’s State Duma,” and because of his “longstanding ties to Russian organized criminal groups, including time spent leading one such enterprise.” After Russia invaded Ukraine in 2022, OFAC issued further sanctions against Skoch and his assets. On or about March 24, 2022, OFAC designated Skoch and other members of the Duma for “support[ing] the Kremlin’s efforts to violate Ukraine’s sovereignty and territorial integrity.” On or about June 2, 2022, OFAC identified the Airbus as blocked property in which Skoch had an interest. 

Skoch is the beneficial owner of the Airbus through a series of shell companies and trusts tied to his romantic partner. After OFAC designated Skoch in or about April 2018 and continuing through in or about at least in or about 2021, U.S. dollar transactions were made to pay for the registration of the Airbus in Aruba and for aviation insurance premiums for the Airbus, each of which was a necessary expense to maintain and operate the Airbus. 

The Airbus (pictured below), bearing tail number P4-MGU and serial number 5445, is believed to be worth more than $90 million.

U.S. Attorney Williams praised the outstanding work of the FBI and U.S. Department of Commerce, Bureau of Industry and Security. The Justice Department’s National Security Division and Office of International Affairs and the U.S. Treasury Department’s Office of Foreign Assets Control provided valuable assistance in this investigation. 

Assistant U.S. Attorneys Joshua A. Naftalis and Nicholas S. Bradley for the Southern District of New York are in charge of the investigation. 

The investigation was coordinated through the Justice Department’s Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export controls, and economic countermeasures that the United States, along with its foreign allies and partners, has imposed in response to Russia’s unprovoked military invasion of Ukraine. Announced by the Attorney General on March 2 and run out of the Office of the Deputy Attorney General, the task force will continue to leverage all of the Department’s tools and authorities to combat efforts to evade or undermine the collective actions taken by the U.S. government in response to Russian military aggression.

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