Russian Oligarchs Shift Yachts as the U.S. Tries to Ice Assets

The superpowers owned by Russian billionaires with ties to President Vladimir Putin are in motion. The U.S. and its allies are preparing further sanctions on their property following the invasion of Ukraine. At least four massive yachts owned by Russian business leaders are reportedly moving to Montenegro and the Maldives; Since then, world leaders have announced a wide range of sanctions in recent days, including targeting the U.S. Treasury at Russia’s central bank. According to Nomad Capitalist, the Maldives does not have an extradition treaty with the U.S.

The property of targeted Russian executives is likely to be another blow. The Biden administration recently announced the creation of a working group to target their profitable assets, including yachts and palaces. France is compiling a list of assets owned by Russian oligarchs, including boats and cars, that E.U. sanctions could seize. The White House tweet states that it plans to prepare a multilateral transatlantic working group next week to identify, search for and freeze the assets of sanctioned Russian companies and oligarchs; Their yachts, their palaces, as well as any other illegally obtained profits that can freeze.

At the same time, some of Russia’s wealthiest boats are moving to other places hoping that they will prevent the seizure of these items. Vagit Alekperov, reportedly the president of Russia-based Lukoil, is sailing to Montenegro on his yacht. He will arrive there in the coming days from Barcelona.

Russian Oligarchs and Sanctions

It is worth noting that Montenegro is a member of NATO. His foreign minister said Montenegro, which applied to join the E.U. in 2008, would join the E.U. in imposing sanctions on Russia. At least three yachts owned by other Russian billionaires are approaching the Maldives. The island country has been a hot spot for Russian tourists for years. The Maldives Tourism Minister said the Russian invasion would significantly impact tourism.

Oleg Deripaska’s, the billionaire yacht Clio, reportedly left Sri Lanka almost two weeks ago and will soon arrive in the Maldives. The U.S. imposed sanctions on Deripaska and related companies in 2018. He was one of the few Russian billionaires to oppose the conflict in Ukraine. Peace is a priority. Negotiations should begin as soon as possible, Deripaska said on Sunday.