Photo: Lurssen
If anyone thought that the hunt for Russian oligarch-owned superyachts was close to ending, they were wrong. Despite the controversy surrounding the legal implications and the financial consequences of seizing these particular assets, U.S. authorities have recently confirmed that the hunt is far from over. In fact, a new wave of seizures and arrests is on its way.
The targeting of luxury yachts allegedly owned by sanctioned oligarchs from Russia and the measures that were taken against them throughout this past summer are unprecedented and will leave a mark on history. The intricate saga of how the Amadea superyacht was eventually seized by U.S. authorities and taken from Fiji to Hawaii, then San Diego, could beat any action movie screenplay.
European authorities in various countries have taken action against such assets as well, starting as early as March this year, but Amadea became an example of how drastic those measures could get. The incredible $300 million 348-footer (106 meters) wasn’t simply frozen but literally chased down, seized, and moved to the U.S., where it’s currently waiting to be put up for sale.
It seems that this was just the beginning. Andrew Adams, director of the US KleptoCapture Task Force, recently confirmed for the BBC that the U.S. is gearing up to step up its efforts to seize more superyachts and other assets linked to oligarchs that support the Kremlin.
Adams identified “facilitators and money launderers” as the next target for authorities, adding that we can expect “to see handcuffs” in the coming months. The sale of Amadea (with proceeds from it to be donated to Ukraine) is supposed to become a message for the other sanctioned oligarchs, who have managed to protect their superyachts so far.
“Your assets are not safe. (…) You can try to move your boat across the ocean, but we’ll still come and grab it,” warned Adams.
The infamous Amadea was seized with the cooperation of Fijian authorities, but this type of support for U.S. actions isn’t available everywhere. Most recently, both Hong Kong and South Africa stated that they would refuse to reinforce U.S. sanctions against the alleged owner of Nord. The yacht docked briefly in Hong Kong and then was supposed to arrive in Cape Town but went dark instead. Whether it will end up like Amadea, only time will tell.
European authorities in various countries have taken action against such assets as well, starting as early as March this year, but Amadea became an example of how drastic those measures could get. The incredible $300 million 348-footer (106 meters) wasn’t simply frozen but literally chased down, seized, and moved to the U.S., where it’s currently waiting to be put up for sale.
It seems that this was just the beginning. Andrew Adams, director of the US KleptoCapture Task Force, recently confirmed for the BBC that the U.S. is gearing up to step up its efforts to seize more superyachts and other assets linked to oligarchs that support the Kremlin.
Adams identified “facilitators and money launderers” as the next target for authorities, adding that we can expect “to see handcuffs” in the coming months. The sale of Amadea (with proceeds from it to be donated to Ukraine) is supposed to become a message for the other sanctioned oligarchs, who have managed to protect their superyachts so far.
“Your assets are not safe. (…) You can try to move your boat across the ocean, but we’ll still come and grab it,” warned Adams.
The infamous Amadea was seized with the cooperation of Fijian authorities, but this type of support for U.S. actions isn’t available everywhere. Most recently, both Hong Kong and South Africa stated that they would refuse to reinforce U.S. sanctions against the alleged owner of Nord. The yacht docked briefly in Hong Kong and then was supposed to arrive in Cape Town but went dark instead. Whether it will end up like Amadea, only time will tell.
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