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.

Up Close With the Madame Gu

By . Kate Kelly Dec. 1, 2022

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In late October, I flew to Dubai to report on the Madame Gu , a 324-foot superyacht that maritime records suggested had been moored there for months, despite having turned off its radio signal in March. There was good reason to place it under the radar: It was linked to a sanctioned Russian oligarch, Andrei Skoch.

Here’s what I saw →

During the trip, I stayed on the Queen Elizabeth 2 , the famous trans-Atlantic cruise ship that is now a floating hotel. In addition to its historical curiosities, the ship had the benefit of being anchored right near the Madame Gu at the Mina Rashid Marina, a bustling commercial port in Dubai.

Any evidence that the Madame Gu’s maintenance is being paid for in U.S. dollars could help the United States make a legal case to seize the ship. One international service provider — the British company Aggreko, whose generator set was powering the ship at the time — made me curious.

One morning I spent an hour observing the vessel. Stationed next to other superyachts — two of which are also linked to prominent Russians — the Madame Gu shone in the sun. Scaffolding affixed to its port side and two figures I spotted walking the deck suggested it was being well maintained.

Some services, including security, were being handled by P&O Marinas , a division of the DP World, which is owned by Dubai’s royal family. (DP World later told us they comply with local and national laws in the U.A.E. Aggreko’s generator set was removed after The Times reached out to the company.)

There was one salient absence from the Madame Gu: a country flag. Unlike the superyachts around it, the shiny blue ship had no flag flying from its stern, suggesting something we later confirmed: that the ship is currently stateless, meaning its movements are extremely limited.

Read more about the Madame Gu.

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MADAME GU yacht interior

Similar to the outside, the inside of the MADAME GU yacht was also designed by Winch Designs. Winch Designs has planned out the interiors of over 60 yachts.

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It is pretty wild to think that a helicopter can fit on a ship, but that is just how big MADAME GU is.

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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.

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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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Sanctioned Russian's superyacht docked in Dubai

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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.

Biden And Allies Are Coming For Russian Billionaires’ Yachts: Forbes Tracked Down 63. Here’s Where To Find Them

Most of the yachts are registered through offshore vehicles and docked in far-flung locales..

Updated with new sanctions on September 14, 2023. The locations in this article were last updated on January 9, 2023 and the map has not been updated since this story was originally published in March 2022.

R ussian billionaires have been in the spotlight since Vladimir Putin invaded Ukraine on February 24. In his State of the Union address on March 1, President Joe Biden said his administration would work with European countries to target Russian oligarchs by seizing “their yachts, their luxury apartments, their private jets.”

The United Kingdom and the European Union imposed sanctions on three more Russian billionaires on March 9 and the U.K. sanctioned Roman Abramovich the next day; more sanctions were announced on March 15 and on March 24; new actions have since brought the total number of sanctioned Russian-born billionaires to 50. Several yachts owned by sanctioned billionaires or their family members and associates—Roman Abramovich, Farkhad Akhmedov, Vagit Alekperov, Andrei Guriev, Eduard Khudainatov, Andrei Kuzmichev, Igor Makarov, Andrey Melnichenko, Alexey Mordashov, Dmitry Pumpyansky, Arkady Rotenberg, Gennady Timchenko, Eugene Shvidler, Alisher Usmanov and Viktor Vekselberg—were last tracked in the U.S., EU or in the U.K. and their territories after the individuals were sanctioned, including France, Germany, Gibraltar, Italy, the Netherlands, Puerto Rico and Spain.

Their personal assets in the European Union, from private jets and superyachts to luxury real estate, may now be frozen. Italian authorities froze Mordashov’s Lady M yacht and Timchenko’s Lena yacht on March 4. On March 12, Italian police froze Melnichenko’s Sailing Yacht A in Trieste. On March 21, authorities in the British overseas territory of Gibraltar detained Dmitry Pumpyansky’s Axioma yacht, the same day French authorities froze a yacht owned by Alezei Kuzmichev. On April 4, Spain’s Guardia Civil and the FBI seized Vekselberg’s Tango yacht in Palma de Mallorca . On April 13, German authorities froze Dilbar , a yacht that was owned by Alisher Usmanov until he transferred ownership to his sister Gulbakhor Ismailova in 2020. On May 5, Fiji seized Suleiman Kerimov’s yacht Amadea at the request of U.S. authorities.

It’s still unclear whether the EU, the U.S. or the U.K. will declare additional sanctions on other individuals. As recently as February 28, Forbes tracked the wealth of more than 100 Russian billionaires. Using data from yacht valuation experts VesselsValue, Forbes has compiled a list of every yacht owned by Russian-born billionaires and recent dropoffs—both those that have been sanctioned and those that have not. At least 12 Russian billionaires fell out of the three-comma-club on March 1.

According to VesselsValue’s head of superyachts, Sam Tucker, yacht “ownership is notoriously private.” The firm has 90% confidence in its data on these yachts, which are generally owned through offshore companies registered everywhere from the Isle of Man to the Cayman Islands. Collectively, the 63 yachts are worth at least $6.3 billion. The 53 yachts owned by sanctioned Russian billionaires are worth at least $4.7 billion.

“Technically speaking, these yachts are owned by a special purpose vehicle, often being in a different jurisdiction to the beneficial owner,” Tucker said. “There are also lease systems, which further distance the [owner] from the asset.” Lease systems are legal structures commonly used to purchase yachts, allowing individuals to own a yacht through a separate company—often registered in places such as Malta and Cyprus—that then leases the yacht to the individual.

While the Russian economy crashes under the weight of sanctions, yachts owned by the country’s billionaires have anchored in much sunnier climes: everywhere from Monaco and Barcelona to Dubai and the Seychelles.

Here is a list of all of the yachts owned by Russian billionaires and billionaires born in Russia tracked by Forbes and VesselsValue (Location data from VesselsValue, MarineTraffic and VesselFinder):

Alexander Abramov

Sanctioned by australia, u.k., yacht name: titan, length: 257 feet, last recorded location: dubai, united arab emirates on january 9, 2023, registered in: bermuda, value: $82 million.

Alexander Abramov's Titan yacht.

Roman Abramovich

Sanctioned by u.k., eu, canada, australia, switzerland, yacht name: eclipse*, length: 533 feet, last recorded location: bodrum, turkey on january 9, 2023, value: $438 million.

*Abramovich also owns eight small vessels “used to support the operations” of Eclipse, named Eclipse 1 through Eclipse 8.

Yacht name: Solaris

Length: 458 feet, last recorded location: marmaris, turkey on january 9, 2023, value: $474 million, yacht name: halo, length: 180 feet, last recorded location: göcek, turkey on december 16, 2022, registered in: cook islands, value: $38 million, yacht name: garcon, length: 220 feet, last recorded location: fethiye, turkey on august 8, 2022, value: $20 million, yacht name: kewpie, length: 80 feet, last recorded location: saint barthélemy on january 6, 2023, value: $3 million, yacht name: sussurro, length: 162 feet, last recorded location: la ciotat, france on january 9, 2023, value: $17 million, yacht name: umbra a, length: 40 feet, last recorded location: not available, registered in: not available, value: $1 million, yacht name: aquamarine*, length: 164 feet, last recorded location: vlissingen, netherlands on april 5, 2022, registered in: russia, value: $29.9 million.

* Aquamarine is owned by Jersey-based MHC Jersey Limited, which is owned by British Virgin Islands-based Norma Investments Limited. Prior to February 24, 2022, Norma’s beneficial owner was Abramovich; Norma’s ownership was transferred to David Davidovich, a business associate of Abramovich, on the same day, according to public filings. Davidovich was sanctioned by the U.K. on April 14 .

Roman Abramovich's Eclipse yacht.

Farkhad Akhmedov

Sanctioned by eu, u.k., canada, switzerland, yacht name: luna, length: 375 feet, last recorded location: hamburg, germany on july 4, 2022 ( frozen by german authorities on may 12, 2022), registered in: marshall islands, value: $196 million.

Farkhad Akhmedov's Luna yacht.

Vagit Alekperov

Sanctioned by u.k., australia, canada, yacht name: galactica super nova, length: 230 feet, last recorded location: off the coast of budva, montenegro on march 2, 2022 (departed tivat, montenegro on march 2), registered in: sierra leone, value: $67 million, yacht name: space, length: 114 feet, last recorded location: sevastopol, crimea on august 23, 2022, value: $8 million, yacht name: galactica, length: 263 feet, last recorded location: vladivostok, russia on october 1, 2022, value: not available.

Vagit Alekperov's Galactica Super Nova yacht.

Oleg Deripaska

Sanctioned by u.s., u.k., eu, canada, switzerland, australia, yacht name: clio, length: 238 feet, last recorded location: adler, russia on october 27, 2022, registered in: cayman islands, value: $58 million, yacht name: sputnik, length: 197 feet, last recorded location: göcek, turkey on november 9, 2022, registered in: antigua and barbuda, value: $19.75 million, yacht name: elden, length: 95 feet, last recorded location: volga river near sknyatino, russia on october 8, 2022, value: $1.9 million.

Oleg Deripaska.

Sergey Galitsky

Yacht name: quantum blue, length: 341 feet, last recorded location: off the coast of salalah, oman on march 22, 2022, value: $213 million.

Sergei Galitsky's Quantum Blue yacht.

Andrei Guriev

Sanctioned by u.s., u.k., yacht name: alfa nero, length: 267 feet, last recorded location: falmouth harbour, antigua and barbuda on november 3, 2022 ( blocked by the u.s. on august 2), value: $81 million.

Andrei Guriev's Alfa Nero yacht.

Dmitry Kamenshchik

Yacht name: flying fox, length: 446 feet, last recorded location: göcek, turkey on december 27, 2022 ( blocked by the u.s. on june 2), value: $455 million.

Dmitry Kamenshchik's Flying Fox yacht.

Suleiman Kerimov

Sanctioned by u.s., eu, u.k., canada, switzerland, australia, japan, yacht name: amadea, length: 348 feet, last recorded location: san diego, california on june 6 ( seized by u.s. authorities on may 5, 2022), registered in: united states, value: $300 million.

Suleiman Kerimov's Amadea yacht.

Igor Kesaev

Yacht name: my sky, length: 168 feet, last recorded location: crossroads superyacht marina, maldives on june 16, 2022, value: $30 million, yacht name: sky, length: 166 feet, last recorded location: limón bay, panama on january 9, 2023, value: $23 million.

Igor Kesaev.

Eduard Khudainatov

Sanctioned by eu, yacht name: divina barbara, length: 115 feet, last recorded location: rendsburg, germany on november 17, 2016, registered in: united kingdom, value: $9 million, alexey kuzmichev, sanctioned by u.s., eu, u.k., canada, switzerland, australia, yacht name: la petite ourse, length: 79 feet, last recorded location: antibes, france on august 11, 2022 ( frozen by french authorities on march 16, 2022; released after court decision on october 5, 2022), registered in: malta, value: $4.5 million, yacht name: la petite ourse ii, length: 54 feet, last recorded location: cannes, france on june 6, 2022 ( frozen by french authorities on march 21, 2022; released after court decision on december 9, 2022), value: $1.2 million, anatoly lomakin, yacht name: sea & us, length: 205 feet, igor makarov, sanctioned by canada, australia, yacht name: areti i, length: 128 feet, last recorded location: st. augustine, florida on october 24, 2022, value: $7 million.

Igor Makarov.

Iskander Makhmudov

Sanctioned by: u.s., u.k., yacht name: predator, length: 239 feet, last recorded location: kuşadası, turkey on january 4, 2023, registered in: st. kitts and nevis, value: $55 million, dmitry mazepin, sanctioned by: u.k., eu, switzerland, canada, australia, yacht name: aldabra, length: 97 feet, last recorded location: bodrum, turkey on october 7, 2022 (frozen by italian authorities), registered in: isle of man, length: 72 feet, last recorded location: n/a (frozen by italian authorities), registered in: n/a, andrey melnichenko, sanctioned by eu, u.k., u.s., switzerland, australia, yacht name: my a, length: 390 feet, last recorded location: ras al khaimah, united arab emirates on may 28, 2022, registered in: isle of man ( deregistered on march 16, 2022), value: $204 million, yacht name: sy a, length: 469 feet, last recorded location: trieste, italy on january 9, 2023 ( frozen by italian authorities on march 12, 2022), value: $578 million (valued by italian government).

Andrey Melnichenko's SY A sailing yacht.

Leonid Mikhelson

Sanctioned by U.K., Canada, Australia

Yacht name: pacific, length: 280 feet, last recorded location: abu dhabi, united arab emirates on december 25, 2022, registered in: malaysia, value: $115 million, yuri milner, yacht name: andromeda, length: 352 feet, last recorded location: off the coast of nassau, bahamas on january 9, 2023, value: $129 million, andrei molchanov, yacht name: aurora, length: 243 feet, last recorded location: istanbul, turkey on august 21, 2022, value: $110 million, alexey mordashov, sanctioned by eu, u.k., u.s., switzerland, australia, japan, yacht name: lady m, length: 213 feet, last recorded location: imperia, italy on june 6, 2022 ( frozen by italian authorities on march 4, 2022), registered in : cayman islands, value: $27 million, yacht name: nord, length: 464 feet, last recorded location: malacca strait near kuala selangor, malaysia on october 24, 2022.

Alexey Mordashov's Nord yacht.

Alexander Nesis

Yacht name: romea, length: 268 feet, last recorded location: malé, maldives on january 9, 2023.

Alexander Nesis.

Vladimir Potanin

Sanctioned by u.s., u.k., canada, australia, yacht name: nirvana, length: 290 feet, last recorded location: dubai, united arab emirates on january 9, 2023 ( blocked by the u.s. on december 15), value: $120 million.

Vladimir Potanin's Nirvana yacht.

Mikhail Prokhorov

Yacht name: av (formerly palladium), length: 312 feet, last recorded location: fort lauderdale, florida on january 9, 2023, value: $157 million.

Mikhail Prokhorov's Palladium yacht.

Dmitry Pumpyansky

Sanctioned by eu, u.k., u.s., switzerland, canada, australia, yacht name: axioma, length: 236 feet, last recorded location: gibraltar on january 9, 2023 ( detained by gibraltarian authorities on march 21, 2022)*, value: $42 million.

*Axioma was auctioned in August 2022 and is no longer owned by Pumpyansky.

Dmitry Pumpyansky's Axioma yacht.

Viktor Rashnikov

Sanctioned by eu, u.k., u.s., canada, switzerland, australia, yacht name: ocean victory, length: 459 feet, last recorded location: malé, maldives on march 1, 2022, value: $294 million.

Viktor Rashnikov's Ocean Victory yacht.

Arkady Rotenberg

Sanctioned by eu, u.s., u.k., australia, canada, japan, switzerland, yacht name: rahil, last recorded location: sochi, russia on december 1, 2022.

Arkady Rotenberg's Russian-registered Rahil yacht.

Boris Rotenberg

Length: 157 feet, last recorded location: marseille, france on january 9, 2023, registered in: luxembourg ( deregistered in april 2022, frozen by french authorities), value: $15 million, dmitry rybolovlev, yacht name: anna, length: 361 feet, value: $250 million.

Dmitry Rybolovlev.

Anatoly Sedykh

Yacht name: hermitage, length: 225 feet, last recorded location: dubai, united arab emirates on december 16, 2022, value: $73 million.

Anatoly Sedykh's Hermitage yacht.

Eugene Shvidler

Sanctioned by u.k., australia (shvidler was born in the u.s.s.r. and is a citizen of the u.s. and the u.k.), yacht name: le grand bleu, length: 354 feet, last recorded location: ponce, puerto rico on june 6, 2022, registered in: palau, value: $109 million.

Eugene Shvidler's Le Grand Bleu yacht.

Andrei Skoch

Sanctioned by u.s., eu, u.k., australia, canada, japan, switzerland, yacht name: madame gu, length: 325 feet, last recorded location: dubai, united arab emirates on march 6, 2022 ( blocked by the u.s. on june 2), value: $156 million.

Andrei Skoch's Madame Gu yacht.

Alexander Svetakov

Yacht name: cloudbreak, length: 246 feet, last recorded location: singapore on january 9, 2023, value: $98 million.

Alexander Svetakov's Cloudbreak yacht.

Gennady Timchenko

Sanctioned by: eu, u.s., u.k., australia, canada, japan, switzerland, yacht name: lena, length: 126 feet, last recorded location: sanremo, italy on september 24, 2022 ( frozen by italian authorities on march 4, 2022), registered in: british virgin islands.

Gennady Timchenko.

Oleg Tinkov

Sanctioned by u.k., australia ( dropped off forbes real-time billionaires on march 1), yacht name: la datcha, length: 252 feet, last recorded location: cabo san lucas, mexico on january 9, 2023, registered in: panama, value: $121 million, yacht name: ycm 90, length: 90 feet, value: $2 million.

Oleg Tinkov's La Datcha yacht.

Alisher Usmanov

Sanctioned by eu, u.k., u.s., australia, canada, japan, switzerland, yacht name: dilbar*, length: 512 feet, last recorded location: hamburg, germany on may 6, 2022 ( blocked by the u.s. on march 3, 2022 and frozen by german authorities on april 13, 2022), value: $588 million, yacht name: begham*, length: 131 feet, last recorded location: olbia, italy on october 25, 2021, value: $10.5 million.

* Dilbar is owned by Caymans-based Navis Marine Ltd. and Begham is owned by Caymans-based Highseas Yachting Ltd. Both Navis Marine Ltd. and Highseas Yachting Ltd. are owned by Cyprus-based Almenor Holdings Ltd. Almenor is in turn owned by Switzerland-based Pomerol Capital SA, which holds the shares "in trust for the benefit of" the Sister Trust, which a German Federal Police investigation found is held by Gulbakhor Ismailova, Usmanov’s sister. Ownership of Navis Marine Ltd. and Highseas Yachting Ltd. was transferred to Almenor in 2020.

Alisher Usmanov's Dilbar yacht.

Viktor Vekselberg

Sanctioned by: u.s., u.k., japan, canada, australia, yacht name: tango, length: 255 feet, last recorded location: palma de mallorca, spain on january 9, 2023 ( blocked by the u.s. on march 13, 2022 and seized by u.s. and spanish authorities on april 4, 2022), value: $90 million.

Viktor Vekselberg's Tango yacht.

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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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Madame Gu Yacht - A Majestic Superyacht

An award winning luxury superyacht, the Madame Gu was built by Feadship and was launched in the year 2013. The yacht showcases a contemporary design with a classical elegance. This luxurious superyacht was designed by renowned yacht designers Andrew Winch Designs. Find out more about this exquisite Dutch yacht, its features and specifications, and what makes it so unique.

Madame Gu owner – Who owns the superyacht?

Andrei Skoch is the proud owner of the Madame Gu yacht. According to Forbes, this Russian billionaire was among the top 100 richest billionaires in the world in 2012.

Skoch is a part owner of Lebedinsky Mining, a steelmaker based in Russia. Since 1999 Skoch has been a member of the (SDRF) State Duma of the Russian Federation. The Bloomberg report states that Andrei Skoch is known to have an estimated net worth of $8.8 billion as of 2021.

“Talk about the most beautiful luxury superyacht, and Madame Gu is surely on that list.”

According to reports, Andrei Skoch is still known to own the Madame Gu yacht as of March 2022. Being a private yacht, the Madame Gu is unavailable for charter by other individuals. Perhaps if you are keen on renting a private yacht that poses similar specs and features, make sure to our yacht rental in Dubai .

Madame Gu yacht price

This superyacht is currently registered in the Cayman Islands and is valued at an estimated $156 million. Being a one of a kind superyacht, the price gradually keeps increasing over the years. During its launch the Madame Gu was purchased by Andrei Skoch for a reported $100 million.

Current location and sanctions on the Madame Gu

The Madame Gu yacht was famously found in several different locations over the years. However, post the Russia-Ukraine war, the yacht was officially sanctioned by multiple nations. These include, the United States, UK, European Union, Canada, Switzerland, Japan and Australia.

This luxury superyacht was first found in the UAE on the 6th of March 2022, and continues to be docked at the Port of Dubai (coordinates 25.27035° / 55.27238°). It is currently docked next to ‘Dubai’ which is Sheikh Mohammed Bin Rashid Al Maktoum’s own private yacht.

When deemed a blocked property, the United States Department of Treasury made some notable observations regarding the yacht amenities. The superyacht is known to have an elevator, a full-equipped gym, an indoor club, and a private helicopter. A reported $1 million dollars was spent for the repainting, and servicing of the yacht before its arrival in Dubai.

Other locations where the Madame Gu was previously spotted are Antibes, Abu Dhabi, Monaco, and Capri.

“Madame Gu is the perfect superyacht that glorifies wealth and opulence.”

Features, specifications and other key highlights of the Madame Gu superyacht

The Madame Gu is a superyacht with a length of 324 ft. (99.0 meters). It has a beam length of 44.6 ft. (13.6 meters) and a draft of 15.0 ft. (4.6 meters). The Gross Tonnage (GT) of the Madame Gu is 2,991 GT.

Madame Gu’s naval architecture was created by De Voogt Naval Architects. This massive superyacht is currently listed in the 75th position among the largest superyachts in the world. Feadship has stated that the Madame Gu is the 5th largest yacht they have built.

Read all about Dubai Yacht Party

To give you an insight into the features, specifications and other highlights of this luxurious superyacht, check out the tables mentioned below:

In order to ensure a seamless operation of the yacht, a team of 36 members continuously maintain the Madame Gu. Enroute international voyages the crew travel along with the passengers and are provided dedicated crew cabins within the yacht.

The Madame Gu packs in four massive diesel powered engines producing a total horsepower of 19,312 hp. Yet the speed of this superyacht still remains to max out at 24.0 knots. This is mainly due to the sheer size and weight of the superyacht. Perhaps considering the speed of superyachts in general, the Madame Gu is relatively faster.

All the above mentioned tables provide an insight into the features, performance and other specifications of the Madame Gu yacht.

Notable acclamation

In the year 2014, the Madame Gu yacht was awarded the title “Superyacht of the Year 2014.” It also received an award for the best Yacht Displacement Motor of 2,000 Gross Tonnage at the World Superyachts Award Gala held in Amsterdam.

“The Madame Gu is undoubtedly a stunning superyacht that showcases extravagance and elegance.”

Russian superyacht Madame Gu

Operated under the ownership of Andrei Skoch, Russian Oligarch and steel business tycoon, the Madame Gu is an exceptionally beautiful multi-million dollar superyacht.

What sets it apart from other superyachts, is its long hull, sleek stance, blue and white color scheme, and notable exterior feature, the helipad. For an extended period of time post Russia-Ukraine the yacht was known to be in hiding. However, the speculations came to an end, when the Madame Gu was finally spotted at Port Rashid in Dubai.

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Russian oligarch’s yacht in Dubai as pressure grows

By : Associated Press // June 27, 2022 //

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Privacy Overview

Putin's superyachts targeted in latest round of U.S. sanctions

The White House announced a new round of sanctions Thursday against Russia over its assault on Ukraine , which include targeting four yachts linked to Russian President Vladimir Putin.

The Treasury Department said Putin has taken numerous trips on two of the yachts, the Russia-flagged Graceful and the Cayman Islands-flagged Olympia, "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." (OFAC is the Treasury Department’s Office of Foreign Assets Control.) 

The Treasury Department also identified two other yachts it said are linked to Putin — the Shellest and the Nega. "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," the agency said in a news release.

The U.S. first sanctioned Putin in February. Some experts have  estimated  that his net worth is in the tens of billions; he has buried his wealth behind numerous shell companies, making it  difficult  to locate and freeze his assets. The Treasury Department said Thursday that the Olympia and the Graceful are owned by a company owned by the Russian government, while the Shellest and the Nega are owned by a Russian company.

Secretary of State Antony Blinken said the new sanctions were designed "to degrade the networks allowing Russia’s elites, including President Putin, to anonymously make use of luxury assets around the globe."

As part of the effort, the U.S. sanctioned Imperial Yachts SARL, a yacht brokerage it said is aligned with the Kremlin 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," the Treasury Department said.

In a statement Thursday, Imperial Yachts called the accusations "false" and said it "will pursue all available legal remedies to resolve this matter promptly."

"We are not involved in our clients’ financial affairs,” the company said.

The Treasury Department took aim at Putin allies, as well, including business leaders and government officials. Sergei Pavlovich Roldugin , whom the Treasury Department identified as a close friend of Putin's who helps manage his offshore wealth, was sanctioned, as was Yury Slyusar, the president of a state-owned company that is a major aircraft supplier for the Russian military.

The sanctions also targeted yachts and luxury aircraft belonging to other oligarchs, including a yacht called the Sea Rhapsody and a jet that have been linked to Andrei Kostin , the previously sanctioned head of Russia's VTB Bank.

Andrei Vladimirovich Skoch, a billionaire member of the Russian Duma who was also previously sanctioned , has been linked to a Cayman Islands-flagged yacht called the Madame Gu, a helicopter housed on the yacht and a private plane. The Treasury Department said that the 324-foot Madame Gu is valued at $156 million and that it "includes an elevator, beach club, gym, and requires significant maintenance and repair, including approximately $1 million for painting annually."

Dareh Gregorian is a politics reporter for NBC News.

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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