russian oligarch yacht spain

Advertisement

Spain seizes another Russian yacht believed to belong to an oligarch.

The ship was impounded in the Spanish port of Tarragona pending an inspection to establish its exact ownership, Spain’s transport ministry said.

• Share full article

By Raphael Minder and Michael Forsythe

• March 16, 2022

MADRID — Spain, which has pledged to seize the suspected superyachts of Russian oligarchs targeted for sanctions imposed following Russia’s invasion of Ukraine, on Wednesday impounded the third such vessel, one of the world’s biggest superyachts, in Spanish territorial waters this week.

The ship was impounded in the Spanish port of Tarragona, pending an inspection to establish its exact ownership, Spain’s transport ministry said in a statement. The ship, called the Crescent, was registered in the Cayman Islands.

The Spanish authorities have taken similar measures against two other yachts, the Valerie, which was in a maintenance yard in Barcelona, and Lady Anastasia, a yacht that was moored in Port Adriano, on the Spanish island of Majorca.

Spain’s hunt for Russian-owned superyachts comes after Prime Minister Pedro Sánchez announced the seizure of the Valerie on Monday and warned that “there will be more.”

The transport ministry said on Wednesday that if the inspections confirmed that the yachts belonged to people on the sanctions list drawn up by the European Union, they would remain fully immobilized.

The Valerie is suspected of being indirectly owned by Sergei Chemezov, the head of Rostec, a Russian industrial conglomerate that also makes military technology and equipment. The vessel was one of four Russian-owned superyachts that had recently been undergoing work at MB92, a shipyard that has helped establish Barcelona as one of the main hubs for the extravagant yachts owned by the super wealthy.

The Crescent, valued by the SuperYachtFan website at $600 million, appears to be the sister ship of the slightly larger, slightly more expensive Scheherazade, a 459-foot superyacht that U.S. officials said could be associated with President Vladimir V. Putin of Russia.

Both were built at the same German shipyard, Lurssen, where the Crescent was given the project name “ Thunder ,” while the Scheherazade, put into service about two years later, was called “Lightning.” Both share the same interior and exterior designers and have been managed by a Monaco company, Imperial Yachts, which caters to Russian oligarchs.

The two yachts also share another, unusual characteristic: Photos of the Crescent taken on March 13 by a former Central Intelligence Agency officer, Alex Finley, in the Spanish port where it was impounded appear to show that the Crescent conceals its nameplate while in port, just like the Scheherazade .

Track information on the Crescent from MarineTraffic , a maritime data provider, shows that Crescent spends most of its time in the Mediterranean, cruising between Spain, Italy, France and Montenegro, a popular destination for the yachts of Russian oligarchs. The 445-foot long Crescent, one of the 20 largest superyachts , has been at the Tarragona marina since early November.

Last week Italian police said they were investigating the ownership of the Scheherazade, which is in dry dock at a port on the Tuscany coast.

The Lady Anastasia, which was impounded on the island of Mallorca, is believed to be owned by Alexander Mikheev, a Russian arms dealer. In late February, the police on Majorca detained a Ukrainian member of the yacht’s crew because he had been planning to sink the vessel, in retaliation for the Russian invasion of Ukraine. He was released on bail, pending an investigation.

In early March, the French authorities seized a yacht in a yard in La Ciotat, which they said was linked to Igor Sechin, the chief executive of the state oil company Rosneft and a former deputy prime minister of Russia. The French yard is owned by MB92, the Spanish company that owns the yard in Barcelona.

MB92 said at the time that it was cooperating with the French authorities and would respond in due course to any possible further sanctions against Russians. “We are continuously monitoring the decisions taken by the Spanish authorities, the European Union and the U.S. as they come into effect,” the company said.

Raphael Minder  covers Spain and Portugal, based in Madrid. He previously worked for Bloomberg News in Switzerland and for the Financial Times in Paris, Brussels, Sydney and finally Hong Kong. More about Raphael Minder

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

A day after securing a new term in a rubber-stamp presidential election, President Vladimir Putin of Russia said he would not back down in Russia’s war against Ukraine .

With additional American aid still in doubt, Lloyd Austin, the U.S. defense secretary, called for “creative, adaptable and sustainable ways” to continue arming Ukraine  and praised European allies who were trying to bolster Kyiv’s military.

Ukraine fired a volley of exploding drones  at Moscow and other targets on the final day of Russia’s presidential vote, the local authorities said, continuing a flurry of attacks timed for the election .

Elaborate Tales: As the Ukraine war grinds on, the Kremlin has created increasingly complex fabrications online  to discredit Ukraine’s leader, Volodymyr Zelensky, and undermine the country’s support in the West.

Targeting Russia’s Oil Industry: With its army short of ammunition and troops to break the deadlock on the battlefield, Kyiv has increasingly taken the fight beyond the Ukrainian border, attacking oil infrastructure deep in Russian territory .

Electronic Warfare: Drones have become a critical weapon for both Russia and Ukraine. But Moscow’s capability to overpower Ukrainian signals  by broadcasting on the same frequencies at higher power is putting Kyiv at a disadvantage.

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 .

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

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

Spain’s Civil Guard and U.S. federal agents descended on the yacht at the Marina Real in the port of Palma de Mallorca, the capital of Spain’s Balearic Islands in the Mediterranean Sea. Associated Press reporters at the scene saw police going in and out of the boat on Monday morning.

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

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

The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally of Russian President Vladimir Putin who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. All of Vekselberg’s assets in the U.S. are frozen and U.S. companies are forbidden from doing business with him and his entities.

The move is the first time the U.S. government has seized an oligarch’s yacht since Attorney General Merrick Garland and Treasury Secretary Janet Yellen assembled a task force known as REPO — short for Russian Elites, Proxies and Oligarchs — as an effort to enforce sanctions after Russia invaded Ukraine in late February.

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

Vekselberg was also questioned in special counsel Robert Mueller’s investigation into Russian interference in the 2016 U.S. presidential election and has worked closely with his American cousin, Andrew Intrater, who heads the New York investment management firm Columbus Nova.

Vekselberg and Intrater were thrust into the spotlight in the Mueller probe after the attorney for adult film star Stormy Daniels released a memo that claimed $500,000 in hush money was routed through Columbus Nova to a shell company set up by Donald Trump’s personal attorney, Michael Cohen. Columbus Nova denied that Vekselberg played any role in its payments to Cohen.

Vekselberg and Intrater met with Cohen at Trump Tower, one of several meetings between members of Trump’s inner circle and high-level Russians during the 2016 campaign and transition.

The 64-year-old mogul founded Renova Group more than three decades ago. The group holds the largest stake in United Co. Rusal, Russia’s biggest aluminum producer, among other investments.

Vekselberg was first sanctioned by the U.S. in 2018, and again in March of this year, shortly after the invasion of Ukraine began. Vekselberg has also been sanctioned by authorities in the United Kingdom.

The U.S. Justice Department has also launched a sanctions enforcement task force known as KleptoCapture , which also aims to enforce financial restrictions in the U.S. imposed on Russia and its billionaires, working with the FBI, Treasury and other federal agencies. That task force will also target financial institutions and entities that have helped oligarchs move money to dodge sanctions.

The White House has said that many allied countries, including German, the U.K, France, Italy and others are involved in trying to collect and share information against Russians targeted for sanctions. In his State of the Union address, President Joe Biden warned oligarch that the U.S. and European allies would “find and seize your yachts, your luxury apartments, your private jets.”

“We are coming for your ill-begotten gains,” he said.

Wednesday’s capture is not the first time Spanish authorities have been involved in the seizure of a Russian oligarch’s superyacht. Officials there said they had seized a vessel valued at over $140 million owned by the CEO of a state-owned defense conglomerate and a close Putin ally.

French authorities have also seized superyachts, including one believed to belong to Igor Sechin, a Putin ally who runs Russian oil giant Rosneft, which has been on the U.S. sanctions list since Russia annexed Crimea in 2014.

Italy has also seized several yachts and other assets.

Italian financial police moved quickly seizing the superyacht “Lena” belonging to Gennady Timchenko, an oligarch close to Putin, in the port of San Remo; the 65-meter (215-foot) “Lady M” owned by Alexei Mordashov in nearby Imperia, featuring six suites and estimated to be worth 65 million euros; as well as villas in Tuscany and Como, according to government officials.

Para reported from Madrid and Balsamo reported from Washington.

• Skip to main content
• Keyboard shortcuts for audio player

National Security

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

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

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

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

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

"Today marks our taskforce's first seizure of an asset belonging to a sanctioned individual with close ties to the Russian regime. It will not be the last," said Attorney General Merrick Garland in a statement. "Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war."

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

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

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

• Justice Department

An official website of the United States government

Here's how you know

Official websites use .gov A .gov website belongs to an official government organization in the United States.

Secure .gov websites use HTTPS A lock ( Lock A locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

• The Attorney General
• Organizational Chart
• Budget & Performance
• Privacy Program
• Press Releases
• Photo Galleries
• Guidance Documents
• Publications
• Information for Victims in Large Cases
• Justice Manual
• Business and Contracts
• Why Justice ?
• DOJ Vacancies
• Legal Careers at DOJ
• Our Offices

Archived Press Releases

Archived News

Para Notícias en Español

$90 Million Yacht of Sanctioned Russian Oligarch Viktor Vekselberg Seized by Spain at Request of United States

Note:  Footage of the seizure is available  here . View the statement from the Attorney General on today's seizure  here .

Spanish law enforcement today executed a Spanish court order freezing the Motor Yacht (M/Y) Tango (the Tango), a 255-foot luxury yacht owned by sanctioned Russian oligarch Viktor Vekselberg. Spanish authorities acted pursuant to a request from the U.S. Department of Justice for assistance following the issuance of a seizure warrant, filed in the U.S. District Court for the District of Columbia, which alleged that the Tango was subject to forfeiture based on violation of U.S. bank fraud, money laundering, and sanction statutes. Separately, seizure warrants obtained in the U.S. District Court for the District of Columbia target approximately $625,000 associated with sanctioned parties held at nine U.S. financial institutions. Those seizures are based on sanctions violations by several Russian specially designated nationals.

According to documents filed in this case, the U.S. investigation alleges that Vekselberg bought the Tango in 2011 and has owned it continuously since that time. It further alleges that Vekselberg used shell companies to obfuscate his interest in the Tango to avoid bank oversight into U.S. dollar transactions related thereto. Additionally, after Vekselberg was sanctioned by the U.S. Treasury Department on April 6, 2018, the warrant alleges that Vekselberg and those working on his behalf continued to make U.S. dollar payments through U.S. banks for the support and maintenance of the Tango and its owners, including a payment for a December 2020 stay at a luxury water villa resort in the Maldives and mooring fees for the yacht. Vekselberg had an interest in these payments and therefore a license was required from the Treasury Department, which was not obtained.

“Today marks our taskforce’s first seizure of an asset belonging to a sanctioned individual with close ties to the Russian regime. It will not be the last,” said Attorney General Merrick B. Garland. “Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war.”

“Today’s action makes clear that corrupt Russian oligarchs cannot evade sanctions to live a life of luxury as innocent Ukrainians are suffering,” said Deputy Attorney General Lisa O. Monaco. “Today the Department of Justice delivers on our commitment to hold accountable those whose criminal activity strengthens the Russian government as it continues to wage its unjust war in Ukraine. That commitment is one we are not finished honoring.”

“Today we announce another example of the FBI using our worldwide presence and partnerships, as well as our expertise and experience, to track and seize illicit money and assets, to counter threats to our safety and national security,” said FBI Director Christopher Wray. “We will continue to use every lawful tool to go after designated Russian oligarchs' assets – however and wherever they hide them.”

The seizure was coordinated through the Justice Department’s Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export restrictions, and economic countermeasures that the United States has imposed, along with its allies and partners, 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 leverage all the Department’s tools and authorities against efforts to evade or undermine the economic actions taken by the U.S. government in response to Russian military aggression.

“The seizure of this luxury yacht demonstrates our determination to hold accountable those who support Vladimir Putin’s unwarranted invasion of another sovereign nation,” said U.S. Attorney Matthew M. Graves for the District of Columbia. “We will continue to use every tool to enforce the sanctions aimed at Putin’s regime and the oligarchs who support it.  Working with our federal and international partners, we will be unflagging in our efforts to bring to justice those who violate these sanctions, and to seize assets where appropriate and lawful.”

“Today’s seizure of Viktor Vekselberg’s yacht, the Tango, in Spain is the result of an unprecedented multinational effort to enforce U.S. sanctions targeting those elites who have enabled Russia’s unprovoked and illegal invasion of Ukraine,” said Director Andrew Adams of Task Force KleptoCapture. “For those who have tied their fortunes to a brutal and lawless regime, today’s action is a message that those nations dedicated to the rule of law are equally dedicated to separating the oligarchs from their tainted luxuries. This seizure is only the beginning of the Task Force’s work in this global effort to punish those who have and continue to support tyranny for financial gain.”

“The FBI will continue to work with its partners to protect the integrity of the banking system and support the enforcement of sanctions programs,” said Special Agent in Charge Michael F. Paul of the FBI’s Minneapolis Field Office. “FBI agents and analysts, regardless of where they are assigned around the world, will work tirelessly to ensure those who attempt to evade sanctions are held accountable.”

“The Russian invasion of Ukraine was an unprovoked act of aggression that has targeted the lives and well-being of millions of people and threatened international security,” said Acting Special Agent in Charge Ricky J. Patel of Homeland Security Investigations (HSI) New York.  “For decades, the Putin regime has been supported by a group of Russian oligarchs that abused their power for private gain to amass untold riches. As DHS’s investigative arm, HSI stands at the forefront of combatting global networks that seek to violate U.S. law and exploit our nation’s financial systems.  Working with our partners at the U.S. Department of Justice and the FBI, we will hold Putin’s oligarchs accountable and deny them the lavish lifestyles they cherish.”

Upon receipt of a request from the United States pursuant to a bi-lateral treaty for mutual legal assistance in criminal matters, the Spanish central authority for mutual legal assistance forwarded the request to a Spanish prosecutor, who obtained a freezing order from a Spanish court. The order was executed by Spain’s Guardia Civil on April 4.

The Tango, International Maritime Organization number 1010703, is believed to be worth approximately $90 million or more. The yacht is now in Mallorca.

The burden to prove forfeitability in a forfeiture proceeding is upon the government.

The matter of the Tango is being investigated by the FBI’s Minneapolis Field Office with assistance from the FBI Legal Attaché Office in Madrid and the HSI New York Field Office.

Assistant U.S. Attorney Karen P. Seifert for the District of Columbia and Paralegal Brian Rickers and Legal Assistant Jessica McCormick for the District of Columbia are handling the seizure. The Justice Department’s Office of International Affairs provided significant assistance in working with the Spanish authorities, as well as the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS).

Related Content

A federal grand jury in the Southern District of Florida returned an indictment today charging a former finance director of the Latin America division of Stericycle Inc., an international waste...

Gunvor S.A. (Gunvor), an international commodities trading company based in Switzerland, has pleaded guilty and will pay over $661 million to resolve an investigation by the U.S. Justice Department into...

• Election 2024
• Entertainment
• Newsletters
• Photography
• AP Buyline Personal Finance
• Press Releases
• Israel-Hamas War
• Russia-Ukraine War
• Global elections
• Asia Pacific
• Latin America
• Middle East
• March Madness
• AP Top 25 Poll
• Movie reviews
• Book reviews
• Personal finance
• Financial Markets
• Business Highlights
• Financial wellness
• Artificial Intelligence
• Social Media

US seizes yacht owned by oligarch with close ties to Putin

A Civil Guard stands by the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. All of Vekselberg’s assets in the U.S. are frozen and U.S. companies are forbidden from doing business with him and his entities. (AP Photo/Francisco Ubilla)

Civil Guards accompany U.S. FBI agents and a U.S.Homeland Security agent from the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. (AP Photo/Francisco Ubilla)

A U.S. federal agent leaves the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. (AP Photo/Francisco Ubilla)

A Civil Guard officer accompanies a U.S.Homeland Security agent and an FBI agent from the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. (AP Photo/Francisco Ubilla)

A U.S. federal agent and two Civil Guards board the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. All of Vekselberg’s assets in the U.S. are frozen and U.S. companies are forbidden from doing business with him and his entities. (AP Photo/Francisco Ubilla)

Civil Guards stand by the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. All of Vekselberg’s assets in the U.S. are frozen and U.S. companies are forbidden from doing business with him and his entities. (AP Photo/Francisco Ubilla)

A U.S. federal agent walks past two Civil Guards on the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. All of Vekselberg’s assets in the U.S. are frozen and U.S. companies are forbidden from doing business with him and his entities. (AP Photo/Francisco Ubilla)

Civil Guards officers accompany identified people from the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. (AP Photo/Francisco Ubilla)

A Civil Guard and a police dog walk off the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain’s Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. All of Vekselberg’s assets in the U.S. are frozen and U.S. companies are forbidden from doing business with him and his entities. (AP Photo/Francisco Ubilla)

• Copy Link copied

PALMA DE MALLORCA, Spain (AP) — The U.S. government on Monday seized a 254-foot yacht in Spain owned by an oligarch with close ties to Russian President Vladimir Putin, a first by the Biden administration under sanctions imposed after the Kremlin’s invasion of Ukraine and targeting pricey assets of Russian elites .

Spain’s Civil Guard and U.S. federal agents descended on the Tango at the Marina Real in the port of Palma de Mallorca, the capital of Spain’s Balearic Islands in the Mediterranean Sea. Associated Press reporters at the scene saw police going in and out of the boat.

The U.S. Justice Department, which obtained a warrant from a federal judge in Washington, alleges the yacht should be forfeited for violating U.S. bank fraud, money laundering and sanctions statutes.

Superyachtfan.com, a specialized website that tracks the world’s largest and most exclusive recreational boats, values the 78-meter vessel, which carries the Cook Islands flag, at $120 million.

The yacht is among the assets linked to Viktor Vekselberg , a billionaire and close Putin ally who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents.

All of Vekselberg’s assets in the United States are frozen and American companies are barred from doing business with him and his entities. The Ukrainian-born businessman built his fortune by investing in the aluminum and oil industries in the post-Soviet era.

Prosecutors allege Vekselberg bought the Tango in 2011 and has owned it since then, though they believe he has used shell companies to try to obfuscate his ownership and to avoid financial oversight.

They contend Vekselberg and those working for him continued to make payments using U.S. banks to support and maintain the yacht, even after sanctions were imposed on him in 2018. Those payments included a stay in December 2020 at a luxury water villa resort in the Maldives and fees to moor the yacht.

It’s the first U.S. seizure of an oligarch’s yacht since U.S. Attorney General Merrick Garland and U.S. Treasury Secretary Janet Yellen assembled a task force known as REPO — short for Russian Elites, Proxies and Oligarchs — as an effort to enforce sanctions after Russia invaded Ukraine in late February.

“It will not be the last.” Garland said in a statement. “Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war.”

Vekselberg has long had ties to the U.S., including a green card he once held and homes in New York and Connecticut. He was also questioned in special counsel Robert Mueller’s investigation into Russian interference in the 2016 U.S. presidential election and has worked closely with his American cousin, Andrew Intrater, who heads the New York investment management firm Columbus Nova.

Vekselberg and Intrater were thrust into the spotlight in that investigation after the lawyer for adult film star Stormy Daniels released a memo that claimed $500,000 in hush money was routed through Columbus Nova to a shell company set up by Donald Trump’s personal attorney, Michael Cohen. Columbus Nova denied that Vekselberg played any role in its payments to Cohen.

Vekselberg and Intrater met with Cohen at Trump Tower, one of several meetings between members of Trump’s inner circle and high-level Russians during Trump’s 2016 campaign and the transition before his presidency.

The 64-year-old Vekselberg founded Renova Group more than three decades ago. The group holds the largest stake in United Co. Rusal, Russia’s biggest aluminum producer, among other investments.

Vekselberg was first sanctioned by the U.S. in 2018, and again in March of this year, shortly after the invasion of Ukraine began. Vekselberg has also been sanctioned by authorities in the United Kingdom.

The yacht sails under the Cook Islands flag and is owned by a company registered in the British Virgin Islands administered by different societies in Panama, the Civil Guard said, “following a complicated financial and societal web to conceal its truthful ownership.”

Agents confiscated documents and computers inside the yacht that will be analyzed to confirm he real identity of the owner, it said.

The U.S. Justice Department has also launched a sanctions enforcement task force known as KleptoCapture, which also aims to enforce financial restrictions in the U.S. imposed on Russia and its billionaires, working with the FBI, the U.S. Treasury and other federal agencies. That task force will also target financial institutions and entities that have helped oligarchs move money to dodge sanctions.

The White House has said that many allied countries, including German, the United Kingdom, France, Italy and others are involved in trying to collect and share information against Russians targeted for sanctions. In his State of the Union address on March 1, President Joe Biden warned oligarchs that the U.S. and European allies would “find and seize your yachts, your luxury apartments, your private jets.”

“We are coming for your ill-begotten gains,” he said.

Monday’s capture is not the first time Spanish authorities have been involved in the seizure of a Russian oligarch’s superyacht. Officials said they had seized a vessel valued at over $140 million owned by the CEO of a state-owned defense conglomerate and a close Putin ally.

French authorities have seized superyachts, including one believed to belong to Igor Sechin, a Putin ally who runs Russian oil giant Rosneft, which has been on the U.S. sanctions list since Russia annexed Crimea in 2014.

Italy has seized several yachts and other assets.

Italian financial police moved quickly seizing the superyacht Lena belonging to Gennady Timchenko, an oligarch close to Putin, in the port of San Remo; the 65-meter (215-foot) Lady M owned by Alexei Mordashov in nearby Imperia, featuring six suites and estimated to be worth 65 million euros; as well as villas in Tuscany and Como, according to government officials.

Parra reported from Madrid and Balsamo reported from Washington.

• Saudi Arabia
• Palestine-Israel
• Arab Showcase
• Australasia
• The Americas
• Environment
• Road to Net Zero
• Art & Design
• Film & TV
• Music & On-stage
• Pop Culture
• Fashion & Beauty
• Home & Garden
• Things to do
• Combat Sports
• Horse Racing
• Beyond the Headlines
• Trending Middle East
• Business Extra
• Culture Bites
• Year of Elections
• Pocketful of Dirhams
• Books of My Life
• Iraq: 20 Years On

US authorities seize Russian oligarch’s super yacht in Spain

President joe biden warned oligarchs that the us and european allies would 'find and seize your yachts, your luxury apartments, your private jets'.

A US Homeland Security Police agent climbs on board the 'Tango' superyacht, belonging to Russian oligarch Viktor Vekselberg, which was seized on behalf of US authorities, as it is docked in Mallorca, Spain. Reuters

Live updates: follow the latest news on Russia-Ukraine

The US government has seized a 78-metre yacht in Spain owned by an oligarch with close ties to Russian President Vladimir Putin.

It was a first by President Joe Biden's administration under sanctions imposed against luxury assets of Russian elites after the Kremlin’s invasion of Ukraine.

Spain’s Civil Guard and US federal agents descended on the Tango on Monday at the Marina Real in the port of Palma de Mallorca, the capital of Spain’s Balearic Islands in the Mediterranean Sea.

The US Justice Department, which obtained a warrant from a federal judge in Washington, alleges the yacht should be forfeited for breaching US bank fraud, money-laundering and sanctions statutes.

Superyachtfan.com , a website that tracks the world’s largest and most exclusive recreational boats, values the 78-metre vessel, which carries the Cook Islands flag, at $120 million.

The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close Putin ally who leads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, US Treasury Department documents show.

All of Mr Vekselberg’s assets in the US are frozen and American companies are barred from doing business with him and his entities.

The Ukrainian-born businessman built his fortune by investing in the aluminium and oil industries in the post-Soviet era.

Prosecutors allege Mr Vekselberg bought the Tango in 2011 and has owned it since, although they believe he has used shell companies to try to hide his ownership and avoid financial oversight.

They says Mr Vekselberg and those working for him continued to make payments using US banks to support and maintain the yacht, even after sanctions were imposed on him in 2018.

Those payments included a stay in December 2020 at a luxury water villa resort in the Maldives and fees to moor the yacht.

It is the first US seizure of an oligarch’s yacht since US Attorney General Merrick Garland and US Treasury Secretary Janet Yellen assembled a task force known as Repo, short for Russian Elites, Proxies and Oligarchs, to enforce sanctions after Russia invaded Ukraine on February 24.

“It will not be the last.” Mr Garland said.

US seizes Russian oligarch's yacht in Spain

“Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war.”

Mr Vekselberg has long had ties to the US, including a green card he once held and homes in New York and Connecticut.

He was also questioned in special counsel Robert Mueller ’s investigation into Russian interference in the 2016 US presidential election, and has worked closely with his American cousin, Andrew Intrater, who leads the New York investment management firm Columbus Nova.

Mr Vekselberg and Mr Intrater were thrust into the spotlight in that investigation after the lawyer for adult film star Stormy Daniels released a memo that claimed $500,000 in hush money was routed through Columbus Nova to a shell company set up by Donald Trump’s personal attorney, Michael Cohen.

Columbus Nova denied that Mr Vekselberg played any role in its payments to Cohen.

Mr Vekselberg and Mr Intrater met with Cohen at Trump Tower, one of several meetings between members of Mr Trump’s inner circle and high-level Russians during his 2016 campaign, and the transition before his presidency.

Mr Vekselberg founded Renova Group more than three decades ago. The group holds the largest stake in United Rusal, Russia’s biggest aluminum producer, among other investments.

Superyacht 'Amore Vero', which French authorities say is linked to the chief executive of Rosneft, a Russian energy company, moored near Marseille, France. Reuters

Mr Vekselberg first had sanctions imposed by the US in 2018, and again in March this year. He has also had sanctions imposed by authorities in the UK.

Agents confiscated documents and computers inside the yacht that will be analysed to confirm the real identity of the owner.

The US Justice Department has also launched a sanctions enforcement task force known as KleptoCapture, which also aims to enforce financial restrictions in the US imposed on Russia and its billionaires, working with the FBI, the US Treasury and other federal agencies.

The task force will also focus on financial institutions and entities that have helped oligarchs move money to avoid sanctions.

The White House has said that many allied countries, including Germany, Britain, France, Italy and others, are involved in trying to collect and share information against Russians who are targets for sanctions.

In his State of the Union address on March 1, Mr Biden warned oligarchs that the US and European allies would “ find and seize your yachts, your luxury apartments, your private jets ".

“We are coming for your ill-begotten gains,” he said.

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

Officials said they had seized a vessel valued at over $140 million owned by the chief executive of a state-owned defence conglomerate and a close ally of Mr Putin.

French authorities have seized superyachts, including one believed to belong to Igor Sechin, a Putin ally who runs Russian oil giant Rosneft, which has been on the US sanctions list since Russia annexed Crimea in 2014.

Italy has seized several yachts and other assets.

Italian financial police moved quickly seizing the superyacht Lena belonging to Gennady Timchenko, an oligarch close to Mr Putin, in the port of San Remo.

View from DC

The inside scoop from The National’s Washington bureau

Home News Highlights Best of the Week Tip and teamwork deliver scoop on seizure of oligarch’s yacht

Best of the Week

Tip and teamwork deliver scoop on seizure of oligarch’s yacht

A Civil Guard stands by the yacht called Tango in Palma de Mallorca, Spain, Monday April 4, 2022. U.S. federal agents and Spain's Civil Guard are searching the yacht owned by a Russian oligarch. The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia's President Vladimir Putin, who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents. All of Vekselberg's assets in the U.S. are frozen and U.S. companies are forbidden from doing business with him and his entities. (AP Photo/Francisco Ubilla)

By Michael Balsamo, Aritz Parra and Francisco Ubilla

Lead Department of Justice reporter Michael Balsamo, Madrid chief correspondent Aritz Parra and freelance multiformat journalist Francisco Ubilla put the AP so far ahead on the seizure of a Russian oligarch’s yacht in Spain, competitors didn’t catch up until hours later — and they still had to use AP visuals to accompany their stories.

As part of AP’s broader coverage of the war in Ukraine, Balsamo had been examining what the federal government was doing to seize the assets of Russian oligarchs with ties to Russian President Vladimir Putin. Well-sourced Balsamo got his break when he was tipped that U.S. authorities were working with their counterparts in Spain to seize a $120 million yacht — almost as long as a football field — belonging to a billionaire friend of Putin.

Balsamo immediately alerted colleagues in Europe and eventually Spain. Parra joined in the hunt and confirmed more information on when the seizure would take place and which yacht was being targeted. That put Ubilla on the scene reporting and making images as authorities boarded the ship,giving AP a front row seat to the first U.S. seizure of an oligarch’s yacht since the U.S. assembled a task force known as REPO — short for Russian Elites,Proxies and Oligarchs — as an effort to enforce sanctions after Russia invaded Ukraine.

The all-formats piece was one of AP’s most-read stories of the day; it was hours before competitors could report the basics using the federal government’s press announcement. Even then they still had to rely on Ubilla’s images,which played widely in broadcast, print and online.

Submission Links

By The Associated Press

Apr. 15, 2022

Explore related services

Access the worlds stories at your fingertips

Related articles

A leaked trove of documents opens a rare window into Chinese hacking practices

Mar. 1, 2024

Cole captures Olympics’ impact on island life in Tahiti in stunning visuals

Persistence leads to riveting story on missing and murdered Indigenous people

• Breaking news
• Business and finance
• Entertainment
• Religion and faith
• AP Newsroom
• AP Stylebook
• AP StoryShare
• Live & location
• AP Productions
• Branded content and advertising
• Workflow Solutions
• AP’s local news AI initiative
• Metadata services
• AP Daybooks
• How AP counts the vote
• How we declare winners
• AP VoteCast: how we survey the electorate
• By industry
• Awards and recognition
• Media center
• News values
• Supporting AP
• Corporate Archives
• AP Customer Zone

US seizes yacht docked in Spain and owned by Russian oligarch

The United States says Viktor Vekselberg, a billionaire and close ally of Russian President Vladimir Putin, owns the mega-yacht Tango.

The United States government has seized a mega-yacht in Spain owned by an oligarch with close ties to the Russian president, the first in the government’s sanctions enforcement initiative to “seize and freeze” giant boats and other pricey assets of Russian elites.

Spain’s Civil Guard and US federal agents descended on the yacht Monday at the Marina Real in the port of Palma de Mallorca, the capital of Spain’s Balearic Islands in the Mediterranean Sea.

Keep reading

Where does russia sanctions policy go from here 
, russia sanctions redraw shipping routes, cleaving east from west, asian markets cautious amid talk of more russia sanctions.

The US had issued a seizure warrant for the vessel, named the Tango, alleging it “was subject to forfeiture based on violation of U.S. bank fraud, money laundering, and sanction statutes,” the US Department of Justice said in a statement.

Documents tied to the US investigation allege that Viktor Vekselberg bought the Tango in 2011 and used shell companies to hide his interest in the vessel, the Justice Department said.

Vekselberg, who had been sanctioned by the US in 2018, used US banks to make payments related to the Tango in violation of those sanctions, the department said.

US Attorney General Merrick Garland said it was the first seizure by the US of an asset belonging to a Russian sanctioned individual and “will not be the last”.

“Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war,” Garland said in the statement, referring to Russia’s ongoing invasion of Ukraine.

Associated Press reporters at the scene saw police entering and leaving the boat on Monday morning.

A Spanish Civil Guard spokesman confirmed that officers from the Spanish police body and from the FBI were at the marina searching the vessel Monday morning and said further details would be released later.

Tango, a 78-metre (255-foot) vessel, carries the Cook Islands flag. Superyachtfan.com, a specialised website that tracks the world’s largest and most exclusive recreational boats, has valued it at $120m.

Vekselberg, a billionaire and close ally of Russian President Vladimir Putin, heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to US Treasury Department documents.

All of Vekselberg’s assets in the US are frozen and US companies are forbidden from doing business with him and his entities.

The seizure of Tango is the first under the US  task force KleptoCapture , launched in early March to enforce sanctions on Russians connected to the leadership after the country invaded Ukraine on February 24.

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

Vekselberg was also questioned in US Special Counsel Robert Mueller’s investigation into Russian interference in the 2016 US presidential election and has worked closely with his American cousin, Andrew Intrater, who heads the New York investment management firm Columbus Nova.

Vekselberg and Intrater were thrust into the spotlight in the Mueller probe after the attorney for adult film star Stormy Daniels released a memo that claimed $500,000 in hush money was routed through Columbus Nova to a shell company set up by former US President Donald Trump’s personal attorney, Michael Cohen.

Columbus Nova denied that Vekselberg played any role in its payments to Cohen.

Vekselberg has also been sanctioned by authorities in the United Kingdom.

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

Officials there said they had seized a vessel valued at over $140m and owned by the CEO of a state-owned defence conglomerate and a close Putin ally.

French and Italian officials have also seized yachts and assets linked to Russian oligarchs.

Spain finds yacht and other assets of 15 sanctioned Russian oligarchs

The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.

Reporting by Corina Pons; editing by Barbara Lewis

Our Standards: The Thomson Reuters Trust Principles. , opens new tab

Thomson Reuters

Corina is a Madrid-based business reporter focusing on coverage of retail, infrastructure and tourism including some of Spain's biggest companies like Inditex and Ferrovial. She was previously a senior correspondent in Venezuela, where she reported the Chavez and later Maduro government's efforts to retain power and the effects on the economy.

Trump again conditions US help to NATO allies on their paying 'fair share'

Republican presidential candidate Donald Trump reiterated that the United States would only help protect NATO members from a future attack by Russia if its European members spent more on defense.

• Today's news
• Reviews and deals
• Climate change
• 2024 election
• Fall allergies
• Health news
• Mental health
• Sexual health
• Family health
• So mini ways
• Unapologetically
• Buying guides

Entertainment

• How to Watch
• My watchlist
• Stock market
• Biden economy
• Personal finance
• Stocks: most active
• Stocks: gainers
• Stocks: losers
• Trending tickers
• World indices
• US Treasury bonds
• Top mutual funds
• Highest open interest
• Highest implied volatility
• Currency converter
• Basic materials
• Communication services
• Consumer cyclical
• Consumer defensive
• Financial services
• Industrials
• Real estate
• Mutual funds
• Credit cards
• Credit card rates
• Balance transfer credit cards
• Business credit cards
• Cash back credit cards
• Rewards credit cards
• Travel credit cards
• Checking accounts
• Online checking accounts
• High-yield savings accounts
• Money market accounts
• Personal loans
• Student loans
• Car insurance
• Home buying
• Options pit
• Investment ideas
• Research reports
• Fantasy football
• Pro Pick 'Em
• College Pick 'Em
• Fantasy baseball
• Fantasy hockey
• Fantasy basketball
• Download the app
• Daily fantasy
• Scores and schedules
• GameChannel
• World Baseball Classic
• Premier League
• CONCACAF League
• Champions League
• Motorsports
• Horse racing
• Newsletters

New on Yahoo

• Privacy Dashboard

Spain seizes Russian oligarch's yacht in Barcelona

MADRID (Reuters) - Spain has temporarily seized a Russian oligarch's $140 million yacht in Barcelona, the country said on Monday, as two sources said the vessel belonged to the head of Russian state conglomerate Rostec, an ally of Russian President Vladimir Putin.

"Today we seized - the technical term is provisionally immobilised - a yacht belonging to one of the principal oligarchs," Spanish Prime Minister Pedro Sanchez said on La Sexta television. "We are talking about a yacht that we estimate is worth $140 million."

"There will be more," he added, without elaborating. Monitoring site Marine Traffic has said that yachts linked to two other oligarchs who are not yet sanctioned are also docked in Barcelona.

The 85-meter (279-foot) superyacht Valerie belongs to Sergei Chemezov, a former KGB officer who heads state conglomerate Rostec, two sources said.

Sailing under the flag of Saint Vincent and the Grenadines, the vessel is registered to Chemezov's stepdaughter, Anastasia Ignatova, through a British Virgin Islands company, according to a 2021 article published in the Pandora Papers information leak.

The West has sanctioned Russian billionaires, frozen state assets and cut off much of the Russian corporate sector from the global economy since Russia's invasion of Ukraine on Feb. 24.

Chemezov was sanctioned by the United States in 2014 and Britain in 2020 over Russia's annexation of Crimea and was named in sanctions lists this month by the United States and Australia. The U.S. sanctions also targeted Chemezov's stepdaughter as well as his wife and son.

He was not named in the latest European list of sanctioned Russian figures but the EU imposed measures against him in 2014. A fourth package of EU sanctions against Russia is due to be unveiled in the coming days.

The yacht has been in Barcelona since Feb 9, according to Marine Traffic, and was until Monday under repair at Barcelona's shipyard MB92.

The yacht will remain under detention while Spanish authorities confirm its ownership and whether they feature on any list of sanctions targets, a government source said.

Chemezov told staff in a message shared with Reuters this week that Russia, which describes its actions in Ukraine as a "special military operation" to safeguard domestic security, would emerge "victorious" despite the sanctions.

(Reporting by Belen Carreno, Joan Faus and Isla Binnie, additional reporting Catarina Demony; Editing by Aislinn Laing and Cynthia Osterman)

Recommended Stories

Nfl free agency good, bad and ugly: how has your favorite team done so far.

Which teams should be most excited after a week of NFL free agency?

March Madness: 5 teams that could bust your men's NCAA tournament bracket

Scott Pianowski identifies higher seeds you should avoid trusting to make a deep run in your bracket.

Pass or Fail: Houston Texans show off new road uniforms after Reddit leak

Texans CEO and Chairman Cal McNair took to Reddit to show off one of the team's new uniform combinations in response to a leak.

The CEO of Warren Buffett's favorite oil company thinks its stock is 'very undervalued'

Occidental Petroleum's CEO said the company will focus on paying off debt for the next couple of years as it puts a pause on aggressive share buybacks.

Dodgers vs. Padres: How to watch the 2024 MLB Seoul Series

Dodgers fans, Padres fans, are you ready for the 2024 MLB Seoul Series? Let's play ball!

Timberwolves star Anthony Edwards throws down ridiculous dunk of the year over John Collins in win vs. Jazz

John Collins got put on a wild poster on Monday night, and had to leave the game due to a head injury.

Iowa OT Kadyn Proctor reportedly leaving Hawkeyes after 2 months, likely returning to Alabama

The forrmer five-star recruit and freshman starter appears to be returning to Alabama.

Baker Mayfield gets called 'a 10 on the pr--- scale' by Bucs GM, then thanks him: 'I'll take that'

Baker took it as a compliment, even though it didn't really sound like one.

The best soundbars for 2024: My 7 top picks for theater-quality audio at home

A soundbar is one of the best TV upgrades you can buy. Here are the best models for every type of viewer.

2024 NFL free agency: Fantasy football winners and losers

With the massive wave of NFL free agency moves behind us, fantasy football analyst Matt Harmon shakes out who saw their fantasy value rise or fall for 2024.

Has Caitlin Clark locked up Naismith Player of the Year? Here are 5 contenders for the nation's top award

Clark's record-breaking season has transcended college basketball, but there are several deserving candidates this season.

Fantasy Baseball: Seven pieces of draft advice to ensure success in 2024

Fred Zinkie shares winning strategies to keep in mind when drafting your team this fantasy baseball season.

2024 Fantasy Baseball: Jackson Holliday leads 5 key draft sleepers from the infield

Dalton Del Don examines potential draft values with the upside to make a difference in fantasy baseball leagues.

Nearing a loaded 2024 NFL Draft, Justin Fields and the 2021 QB class remind us the position is a crapshoot

Why Fields wasn’t scooped by other teams largely centers on his one year of rookie contract control, which features a fifth-year option that will be set at $25.6 million.

Report: 2-time Cy Young winner Blake Snell agrees to 2-year, $62 million deal with Giants after 3 seasons with Padres

Blake Snell is leaving San Diego for San Francisco.

2024 Fantasy Baseball: Andy Behrens' potential 'league-winners' from recent Tout Wars draft

Fantasy baseball analyst Andy Behrens reveals his favorite picks from his recent Tout Wars draft while exposing the truth about league winners.

Aaron Rodgers says 'Sandy Hook was an absolute tragedy' in wake of report he believed in conspiracy theory

Rodgers' statement comes a day after a CNN story detailing comments Rodgers made about the shooting in 2013.

NFL Draft 2024: Top 50 big board is heavy on offense, starting with Drake Maye and Caleb Williams at the top

Yahoo Sports NFL Draft expert Nate Tice delivers his first top 50 of this draft cycle, with breakdowns of each prospect's strengths, weaknesses, projections and more.

Russell Wilson's hurried deal with Steelers may say a lot about his intentions, and Pittsburgh's

Wilson's announced deal with Pittsburgh went down before free agency even began. Why were both sides so quick to link up?

Kyrie Irving hits wild left-handed floater at the buzzer to lift Mavericks past Nuggets

Kyrie Irving lifted the Mavericks to a huge 107-105 win over the Nuggets on Sunday afternoon.

US seizes first oligarch yacht in Spain as Russia's elite continue to face sanctions

• Tuesday 5 April 2022 at 3:01pm

The US has seized a 254-foot yacht in Spain owned by an oligarch with close ties to Russian President Vladimir Putin.

It is the first Russian super yacht to be seized by Joe Biden's administration as the West continues to target the pricey assets of the country's elites in response to Moscow's invasion of Ukraine.

Spain's Civil Guard and US FBI agents descended on the yacht, named Tango and owned by billionaire Viktor Vekselberg, docked at the Marina Real in the port of Palma de Mallorca on Monday.

The US Justice Department, which obtained a warrant from a federal judge in Washington, alleges the yacht should be forfeited for violating US bank fraud, money laundering and sanctions statutes.

It came just days after the UK seized its first super yacht , owned by a Russian businessman, in east London as further sanctions on oligarchs take hold.

Superyachtfan.com, a specialised website that tracks the world’s largest and most exclusive recreational boats, values the 78-meter Tango vessel at $120 million (around £91.5 million).

The yacht sails under the Cook Islands flag and is owned by a company registered in the British Virgin Islands administered by different societies in Panama, the Civil Guard said, “following a complicated financial and societal web to conceal its truthful ownership.”

Agents confiscated documents and computers inside the yacht that will be analysed to confirm the real identity of the owner, it said.

The yacht is among the assets linked to 64-year-old Vekselberg, a close Putin ally who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to US Treasury Department documents.

The Ukrainian-born businessman built his fortune by investing in the aluminium and oil industries in the post-Soviet era and the Renova group holds the largest stake in United Co. Rusal, Russia’s biggest aluminium producer.

All of Vekselberg’s assets in the United States are frozen and American companies are barred from doing business with him and his entities.

Vekselberg was first sanctioned by the US in 2018, and again in March of this year, shortly after the invasion of Ukraine began. Vekselberg has also been sanctioned by authorities in the United Kingdom.

Prosecutors allege Vekselberg bought the Tango in 2011 and has owned it since then, though they believe he has used shell companies to try to obfuscate his ownership and to avoid financial oversight.

They contend Vekselberg and those working for him continued to make payments using US banks to support and maintain the yacht, even after sanctions were imposed on him in 2018.

Those payments included a stay in December 2020 at a luxury water villa resort in the Maldives and fees to moor the yacht.

It's the first US seizure of an oligarch’s yacht since Attorney General Merrick Garland and Treasury Secretary Janet Yellen assembled a task force known as REPO — short for Russian Elites, Proxies and Oligarchs — as an effort to enforce sanctions after Russia invaded Ukraine in late February.

"It will not be the last,” Garland said in a statement.

“Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war.”

Vekselberg has long had ties to the US, including a green card he once held and homes in New York and Connecticut. He was also questioned in special counsel Robert Mueller's investigation into Russian interference in the 2016 US presidential election and has worked closely with his American cousin, Andrew Intrater, who heads the New York investment management firm Columbus Nova.

Vekselberg and Intrater were thrust into the spotlight in that investigation after the lawyer for adult film star Stormy Daniels released a memo that claimed $500,000 in hush money was routed through Columbus Nova to a shell company set up by Donald Trump's personal attorney, Michael Cohen. Columbus Nova denied that Vekselberg played any role in its payments to Cohen.

The pair met with Cohen at Trump Tower, one of several meetings between members of Trump's inner circle and high-level Russians during Trump's 2016 campaign and the transition before his presidency.

Photos show the luxury mega yachts that belong to Russian oligarchs — some of whom have hidden their ships as the UK ramps up sanctions.

• Sanctions targeting Russian oligarchs threaten their luxury assets — including their mega yachts.
• Many countries have implemented sanctions targeting Putin and Russian oligarchs following Russia's attack on Ukraine.
• Insider compiled a photo list of some of the luxury vessels.

Russian billionaires' assets — including their megayachts — are in danger of being seized as countries continue to impose sanctions on Russian oligarchs in response to Russia's invasion of Ukraine.

US President Joe Biden announced that the US will make a substantial effort to seize Russian oligarchs' assets.

"We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets," Biden said in his State of The Union address on March 1. "We are coming for your ill-begotten gains."

Since the US is not in "armed conflict" with Russia it may be legally tricky to seize assets like yachts, Insider reported . 

"The threshold for seizing assets under sanctions is that the US has to be in armed conflict with the owner of the assets," Brian O'Toole, an economic sanctions expert, tweeted last Friday. "The idea of turning Russian corruption into Ukrainian assistance is lovely but this idea is illegal, period."

It can also be difficult to find out who the owners of these yachts are.

Offshore companies typically own the luxury vessels, but enough "public speculation" pointing to a Russian oligarch as an owner is likely "sufficient for a seizure," Insider reported . 

Many of the oligarchs moved their yachts to places where they can't be seized, such as the Maldives, which does not have an extradition treaty with the US.

Insider has compiled a list of photos with mega yachts linked to Russian oligarchs.

Galactica Super Nova

Amid sanctions and seizures targeting Russian billionaires, Galactica Super Nova — said to be linked to the CEO of Russian oil firm Lukoil — is no longer detectable via ship tracker site MarineTraffic , The Daily Beast reported Thursday. 

The superyacht — whose owner is named Vagit Alekperov — had just been in Montenegro last week, Insider reported .

Alekperov is not currently the target of any sanctions. 

The yacht is almost 230 feet long and can hold up to 12 guests and 16 crew members, according to the ship maker Heesen Yachts .

The ship also has a helicopter pad that can turn into an outdoor movie theatre, also according to the ship maker.

The Amore Vero

France seized Amore Vero, a 281-foot megayacht linked to oligarch and politician Igor Sechin, on March 3.

The yacht, Amore Vero, is estimated to have a value of $120 million . It has a swimming pool that doubles as a helicopter pad and a private deck for its owner, according to Oceana , the ship maker.

Per The Wall Street Journal , officials believe that Amore Vero is "owned by a company whose majority shareholder was Mr. Sechin," though the outlet does not provide the name of the company.

Sechin is the CEO of Rosneft, Russia's oil giant, and a former deputy prime minister. A known Putin ally , he was sanctioned by both the EU and the US before France seized his yacht last week .

Sechin was one of seven oligarchs sanctioned by the UK on Thursday. 

People in Russia have referred to Sechin as "Darth Vader" and "the scariest man on Earth," according to The Guardian .

Alisher Usmanov has been sanctioned by the EU, the US, the UK, and Switzerland. His boat remains in Germany, but the country says it hasn't seized it.

Usmanov's Dilbar is "is the largest motor yacht in the world by gross tonnage," according to Lürssen , the German ship's maker.

It's 512-foot long and weighs 15,917 tons. The ship has been docked in Germany for months undergoing a "refitting," but last week Forbes reported that it was unable to leave the dock.

Germany, however, has denied that it formally seized Dilbar.

Forbes said that "the German federal customs agency is the 'responsible enforcement authority' and would have to issue an export waiver for the yacht to leave, and that 'no yacht leaves port that is not allowed to do so.'" 

Still, multiple outlets reported that Usmanov has fired the crew on the Dilbar.

The Uzbekistan-born oligarch is a supporter of Putin. 

"I am proud that I know Putin, and the fact that everybody does not like him is not Putin's problem," Usmanov told Forbes  in a 2010 interview. 

Suleyman Kerimov was sanctioned by the US, and his son, Said Kerimov, owns ICE. The superyacht is worth is an estimated $170 million.

The Kerimov family owns the majority of Polyus Gold, Russia's biggest gold producer .

ICE was dubbed "Superyacht of the Year" in 2006 at the World Super Yacht Awards, according to Boat International . It is approximately 300 feet and has its own resident helicopter, according to Club Yacht .

Quantum Blue

Sergey Galitsky's ship, Quantum Blue, has an estimated value of $250 million and is last known to be docked in Monaco.

Galitsky is the founder of one of Russia's largest supermarket chains, Magnit.

His name is not currently on the list of sanctioned Russian oligarchs,

Though he also is not the target of any current sanctions, Vladimir Potanin's superyacht, Nirvana, is one of at least four ships docked in the Maldives .

Potanin is the Former First Deputy Prime Minister of Russia and was a longtime trustee for the Guggenheim museum before stepping down on March 2, according to The New York Times . 

Nirvana is not Potanin's only superyacht, he also owns another named Barbara, according to Fortune .

Alexander Abramov's Titan, Alexei Mordashovis' Nord, and Oleg Deripaska's Clio are also located in the Maldives.

At 533 feet long, Roman Abramovich's Eclipse was the largest yacht on the globe until 2013 when the 590-foot Azzam overthrew it. 

Abramovich, once Russia's richest man , is the departing owner of Chelsea FC soccer club. He was sanctioned by the UK on Thursday along with six other oligarchs, Insider reported .

The luxury boat has a host of amenities, including two helicopter pads, a missile detection system, and a swimming pool more than 50 feet long. It also has space for up to 36 guests and 70 crew members, according to Yacht Harbour .

Insider previously reported that it is currently docked in the Caribbean .

Another yacht named Solaris is linked to Abramovich. The vessel, worth approximately $600 million, left Spain Tuesday after having been under repair since late 2021, Insider reported.

Solaris is 460 feet and can host a total of 36 guests, according to SuperYachtFan .

Tango, owned by the US-sanctioned Viktor Vekselberg, is currently located in Palma, Spain.

Tango can host up to 14 people and is 254 feet long, won the 2012 World Superyacht Awards, and has an estimated worth of $120 million, according to SuperYachtFan .

Vekselberg is a Ukrainian-born businessman who owns Renova, a Russian conglomerate, according to The Guardian .

He was one of nearly two dozen Russian oligarchs and officials that the US sanctioned on Friday.

The US Treasury Department claims that he has close ties with Putin, and has announced that assets such as his $90 million jet and his superyacht Tango have been frozen, Insider reported .

Graceful, a yacht reported to belong to Russian President Vladimir Putin, left Germany just before his invasion of Ukraine, Insider reported in early February.

—Manu Gómez (@GDarkconrad) February 9, 2022

Graceful is 270 feet long and has a saloon, gym, spa, library, and an indoor pool nearly 50 feet long that doubles as a dance floor.

Scheherazade

A mystery yacht remains untouched as the owner remains a mystery.

The owner of the 459-foot Scheherazade is suspected to be a Russian billionaire, though the owner was never publically identified, The New York Times reported .

Many people believe it belongs to Vladimir Putin, nicknaming the vessel "Putin's Yacht."

SuperYachtFan estimates the ship's value sits at $700 million.

Stella Maris

Stella Maris is linked to oil and gas tycoon Rashid Sardarov. It was last seen in Nice, France, according to The Washington Post .

The luxury vessel is priced at $75 million, is 237 feet long, and can hold up to 14 guests, per SuperYachtFan .

Sardarov is not being sanctioned. 

Sailing Yacht A

Sailing Yacht A is believed to belong to Andrey Melnichenko. The boat was seized by Spanish officials Saturday, Reuters reported .

The ship is more than 465 feet long and can hold up to 20 guests, according to SuperYachtFan . The website says that Sailing Yacht A also features an underwater observation area and has a value of more than $500 million.

Melnichenko is an EU-sanctioned Russian billionaire who works in coal and fertilizers, according to Forbes . The magazine also reported that he owns a second yacht, Motor Yacht A, which is similar to a submarine. 

Oligarch Gennady Timchenko's superyacht "Lena" was seized in the port of Sanremo, Italy on March 5, Reuters reported.

Timchenko is the owner of a private investment group, Volga Group and a shareholder of Bank Rossiya. The oligarch has been sanctioned by the EU, which describes him as a "long-time acquaintance of the President of the Russian Federation Vladimir Putin."

Timchenko was also sanctioned by the UK on February 22. 

The superyacht is valued at around 50 million euros ($54 million), Reuters reported. It has fold-down terraces, as well as an "owner's suite" which opens out onto the sea with "gull-wing doors," according to its manufacturer, Sanlorenzo.

Italian authorities also seized a $71 million super-yacht belonging to one of the wealthiest men in Russia , Alexei Mordashov. 

The 215-ft "Lady M" superyacht was seized in the Port of Imperia, northern Italy, a source confirmed to Reuters.

The yacht can accommodate up to six guests on and also has accommodation for four crew members, per the Superyacht Times .

The oligarch, who is the chairman of steel mining company, Severstal, has also been sanctioned by the EU, which says Mordashov is "benefiting from his links with Russian decision-makers." Mordashov has insisted he has "absolutely nothing to do" with Russia's attack on Ukraine. 

The Oligarch moved $1.3 billion worth of shares in travel company, TUI, to an offshore tax haven on the day he was hit by sanctions, Insider's Huileng Tan previously reported. 

He was also added to the UK government's sanctions list on March 15.

Some superyachts belonging to Russian billionaires are currently seeking refuge in the Maldives, including a yacht owned by billionaire Oleg Deripaska, Reuters reported.

The billionaire, who is also the founder of one of Russia's largest industrial groups, Basic Element, was added to the UK's sanctions list on March 10.

Also built by Lürssen, the superyacht - which is around 238 feet long - can accommodate 18 guests in nine cabins, per Superyacht Fan.

The superyacht Valerie - worth $140 million - was seized in Barcelona on Monday, Spanish Prime Minister, Pedro Sanchez, said on La Sexta television, per Reuters.  

Sanchez did not confirm the owner of the yacht, but two sources confirmed to Reuters that it belonged to Sergei Chemezov, who is said to be a close ally of Putin.

The oligarch, who was previously a KGB spy with Putin in the former Soviet Union, recently said that Russia would emerge victorious from Western sanctions, Reuters previously reported . 

Chemezov, who is the CEO of Russian defense conglomerate Rostec was added to the US sanctions list on March 3. 

His yacht is 279 feet long and can accommodate 17 guests in eight suites, per Superyacht Fan.

Crescent, most likely owned by Igor Sechin but also rumored to belong to Putin, was the third yacht Spain seized as the West ramps up sanctions, The Washington Post reported Thursday.

The superyacht is 443-feet long and costs an estimated $600 million, according to  SuperyachtFan, which also says the vessel hosts a retractable helicopter hangar and a large pool with a glass bottom.

Lady Anastasia

Lady Anastasia is owned by Russian oligarch Alexander Mikheyev but was seized by Spain on Tuesday, according to Reuters . 

The boat is almost 160 feet long and can hold up to 10 guests, according to Yacht Harbour .

Mikheyev, who was sanctioned by the EU, is the head of a helicopters division under Rostec, New York Mag reported .

• Main content

• International edition
• Australia edition
• Europe edition

Briton arrested in Spain for allegedly helping Russian oligarch evade sanctions

Richard Masters, wanted by US, is charged over scheme involving superyacht Tango owned by Viktor Vekselberg

A British man who is wanted by the US authorities for allegedly helping a Russian oligarch evade sanctions relating to his $90m (£73m) superyacht has been arrested in Spain.

The Briton, named by the US Department of Justice as Richard Masters, 52, has been charged with facilitating a sanctions-evasion and money-laundering scheme involving Tango, a 255ft luxury yacht belonging to Viktor Vekselberg , a Russian oligarch under US sanctions who is an associate of Vladimir Putin.

Another businessman, Vladislav Osipov, 51, a Russian national, has also been charged in the US but remains at large.

Vekselberg, the founder of a Russian energy conglomerate, has been the target of US sanctions since 2018.

Spain’s Guardia Civil police force said a British national had been arrested at Madrid’s Barajas airport in a joint operation with the FBI and Homeland Security Investigation. The US had asked Spain to arrest Masters with a view to extraditing him.

“The arrested British citizen is the owner and administrator of a trading company based in Mallorca that offers maintenance and administrative services to boats,” the Guardia Civil said.

“Among his clients is a Russian citizen who has been prohibited from operating in US markets and with US financial businesses. The yacht in question was used by the aforementioned Russian citizen and his family.”

The force added that the suspect and his company are thought to have earned as much as €800,000 (£707,000) for looking after the oligarch’s yacht.

“After Vekselberg was sanctioned in April 2018, Masters’s company took over the management of Tango, and conspired with others to evade the US sanctions,” the US Department of Justice said in a statement.

“According to the indictment, among other things, Masters devised a scheme to use a false name for the yacht, ‘the Fanta’, in order to hide from financial institutions that payments in US dollars were ultimately for the benefit of Tango and Vekselberg.”

As a result, the statement added, US financial institutions processed “hundreds of thousands of dollars of transactions” relating to the Tango that would not have been permitted had they known of Vekselberg’s involvement.

Matthew Graves, the US attorney for the District of Columbia, where the charges were filed, said those trying to circumvent sanctions against the oligarchs who support the Putin regime were flouting US law.

after newsletter promotion

“The United States will not allow its financial institutions and persons to be manipulated or defrauded for the purposes of benefiting those supporting an illegal war,” he added.

Andrew Adams, the director of the Department of Justice’s department KleptoCapture taskforce, said Masters had to face the “consequences” of his actions.

“Corporations and executives have a choice,” he said. “They can participate in the global effort to uproot corruption, sanctions violations and money laundering, and enjoy the benefits of prompt and fulsome cooperation; or they can, as Osipov and Masters are alleged to have done, attempt to shield themselves and their clients behind a veil of fraud.”

Adams added: “These men made their decisions, and now face the consequences of a failed attempt to profit through, rather than standing against, a sophisticated, transnational criminal enterprise.”

• International trade

More on this story

Roman Abramovich business associate loses appeal against UK sanctions

Germany to propose new sanctions against Russia after death of Alexei Navalny

French police detain Russian tycoon over alleged financial and sanctions violations

Virgin Media O2 to snap up Russian oligarch-backed broadband firm

Abramovich ally Eugene Shvidler fails in attempt to overturn UK sanctions

UK imposes sanctions on Russian judges for sentencing of Putin opponent

Abramovich ally begins high court challenge against UK sanctions

Sanctions regime put to legal test in UK as oligarch seeks release of assets

Unilever named ‘international sponsor of war’ by Ukraine

UK to change sanctions rules in move towards seizing Russian assets

Most viewed.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

latest in World News

Kate Middleton's medical records possibly breached, hospital...

Trump defends Kate Middleton over Mother's Day photo flap:...

Real estate agent accidentally burned down multimillion-dollar...

Real estate tycoons' sons arrested in Thailand after alleged...

At least 13 Russian miners trapped in collapsed gold mine:...

Netanyahu says Israel 'determined' to carry out ground operation...

Man who filmed 'passenger from hell' who allegedly shoved fellow...

Brazil's ex-president indicted for allegedly lying about COVID...

How monogrammed bathrobes led us to put a $1m bounty on russian yacht manager’s head.

• View Author Archive
• Email the Author
• Get author RSS feed

Contact The Author

Thanks for contacting us. We've received your submission.

You can’t cover up the truth — not even in a luxury robe.

The US government is offering a reward of up to $1 million for a businessman who allegedly helped a Russian oligarch’s yacht circumvent sanctions — until the scheme was revealed by an order for monogrammed bathrobes.

Swiss-based businessman Vladislav Osipov, 52, is wanted on charges including bank fraud, money laundering and conspiracy for his role as a high-level employee of billionaire Viktor Vekselberg, the Justice Department announced last month .

A few months after Vekselberg was sanctioned by the US government in April 2018, Osipov allegedly instructed a boat management firm in Spain to disguise his $90 million yacht, Tango, by referring to it as the Fanta, the federal indictment stated.

At Osipov’s instruction, yacht employees used the false name to buy thousands of dollars worth of goods and services that were processed by US companies and financial institutions that would otherwise have refused to do business with a sanctioned buyer, the document alleged.

In addition to navigation software, leather magazine holders and web services, the management company running the Tango shelled out over $180,000 to a US internet provider, the feds said.

But a smoking gun appeared on Sept. 3, 2020, with the purchase of $2,600 monogrammed luxury robes — that gave away the Fanta’s real name, Tango.

The company ordered a second set of robes the following year, which contained explicit instructions that the ship should be referred to as Fanta on the invoice, even though the robes themselves bore a different name, the indictment read.

The Tango was seized in the Mediterranean by the FBI and Spanish authorities shortly after Russia invaded Ukraine in February 2022, the Washington Post reported.

Osipov was initially indicted last year, documents showed. The owner of the Spanish management company, Richard Masters, was charged with conspiracy to defraud the US and violating federal sanctions, the Washington Post added .

As of late February, the Justice Department is offering up to $1 million for information leading to Osipov’s arrest.

The Swiss-based former Russian citizen may be in Herrliberg, Switzerland; Majorca, Spain; or Moscow, the feds warned.

The charges against Osipov are indicative of the government’s increased interest in expanding the reach of sanctions against Russian interests by targeting Western associates, the Washington Post suggested.

Just last month, the Justice Department announced charges against two stateside “facilitators” who supposedly helped Russian bank head Andrey Kostin conceal his ownership of a $12 million Aspen, Colo., property, the outlet noted.

The threat of criminal charges, the Washington Post said, is more concerning to Russians living and working in the West than the slew of Treasury Department sanctions.

“What you have seen through today’s public announcements are our efforts at really targeting the facilitators who possess the requisite skill set, access, connections that allow the Russian war machine [and] the Russian elites to continually have access to Western services and Western goods,” David Lim, co-director of the Justice Department’s KleptoCapture task force, said last month.

“It seems to me they have gone through a comprehensive list of the oligarchs, and you can debate whether or not it’s had a meaningful impact on the Russian war effort,” Thad McBride, an international trade partner at the law firm Bass Berry & Sims, told the Washington Post.

“Because they’re getting smarter about who’s who, they’re finding other people who play meaningful roles in these transactions, even though they’re not showing up in the headlines.”

Vekselberg, 66, has previously complained that he is unfairly targeted by US sanctions simply because he is Russian, wealthy, and connected with President Vladimir Putin, the newspaper said.

According to the documents, Osipov also helped Vekselberg use the shadow entities to circumvent the Treasury Department’s 50 percent ownership rule, which makes it illegal to do business with a firm if the sanctioned owner controls over 50 percent of the company.

Osipov’s attorney, Barry J. Pollack, argued that the Tango was not more than 50% owned by Vekselberg, and that the government’s application of the federal sanctions in this case was “unconstitutional.”

“The government points to no precedent that supports its extraordinary interpretation and cites no authority that allows the traditional rules of statutory construction to be turned on their head,” Pollack wrote in the opposition filing.

Pollack also insisted that his client is not a fugitive because he never engaged in illegal activity on US soil and never lived there.

Pollack did not immediately return The Post’s request for a comment.

Share this article:

Advertisement

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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