Photo: Bombardier
The list of sanctions against Russia for invading Ukraine is growing, with many of them directly targeting oligarchs with supposed ties to President Putin. One such oligarch, Eugene Shvidler, has just had his private jet impounded in the UK.
Eugene Shvidler is an oil tycoon worth an estimated $2 billion, and he’s also the chairman of UK-based company Millhouse Capital, which manages the assets of another Russian billionaire, Roman Abramovich. Shvidler himself has not been personally sanctioned by UK authorities, the BBC reports, but a private jet believed to be his has been impounded at Farnborough Airport in Hampshire.
According to the media outlet, the private jet, a Bombardier Global 6500 business jet, estimated at $44-56 million, touched down at the airport with Shvidler supposedly on board. It was then supposed to fly out to Dubai, but it was prevented from doing so by an order from Transport Secretary Grant Shapps.
Under current sanctions, it is a criminal offense for a private jet owned or chartered by a Russian oligarch to enter national airspace. This Bombardier is staying put for now until authorities determine its origin and/or ownership since it’s registered in Luxembourg.
For instance, if the investigation determines that the jet is permanently leased to Shvidler, it will fall under current sanctions and become a frozen asset. At the same time, the report adds, determining that a plane is Russian is “detective work” that goes beyond just tracking it by radar because many Russian oligarchs charter aircraft registered in third countries – as seems to be the case here.
“We will always work to deny [Russian President Vladimir] Putin and his cronies the right to continue as normal while innocent Ukrainians suffer,” Shapps says in a statement.
Days into the Ukraine invasion, several European countries and the United States have adopted economic sanctions against Russia, ranging from impounding mega- and superyachts, luxury villas, and other assets to altogether ceasing operations and business partnerships. The goal is to economically isolate Russia and thus cut funding for the war effort.
According to the media outlet, the private jet, a Bombardier Global 6500 business jet, estimated at $44-56 million, touched down at the airport with Shvidler supposedly on board. It was then supposed to fly out to Dubai, but it was prevented from doing so by an order from Transport Secretary Grant Shapps.
Under current sanctions, it is a criminal offense for a private jet owned or chartered by a Russian oligarch to enter national airspace. This Bombardier is staying put for now until authorities determine its origin and/or ownership since it’s registered in Luxembourg.
For instance, if the investigation determines that the jet is permanently leased to Shvidler, it will fall under current sanctions and become a frozen asset. At the same time, the report adds, determining that a plane is Russian is “detective work” that goes beyond just tracking it by radar because many Russian oligarchs charter aircraft registered in third countries – as seems to be the case here.
“We will always work to deny [Russian President Vladimir] Putin and his cronies the right to continue as normal while innocent Ukrainians suffer,” Shapps says in a statement.
Days into the Ukraine invasion, several European countries and the United States have adopted economic sanctions against Russia, ranging from impounding mega- and superyachts, luxury villas, and other assets to altogether ceasing operations and business partnerships. The goal is to economically isolate Russia and thus cut funding for the war effort.
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