According to statistics, most superyacht customers and owners are from the U.S., while Russians are in second place. A lot of the Russian superyacht owners are oligarchs, wealthy people known for their connection to the state-controlled industry and to political circles. But these aren’t the best times for them, as several countries have announced or are leaning towards banning these vessels from their waters.
Russian oligarchs who are used to turning heads with their stunning luxury toys in some of the world’s most famous ports are now in danger of losing them. France’s Economy Minister Bruno Le Maire has recently announced that it’s conducting a “full survey” of all the financial assets, including luxury yachts and vehicles, in France, which are owned by Russian individuals who are targeted by the European sanctions. According to Le Maire, luxury properties or vehicles of Russians who have direct ties to the Kremlin could also be seized as a result of the sanctions.
In addition to the risk of being seized, these huge vessels could also be banned from accessing certain waters. UK Transport Secretary Grant Shapps had already announced that Russian flagged, owned, or operated vessels are forbidden to access any UK port, but there are also demands for seizing what is known as “pleasure crafts” owned by oligarchs.
As a result, superyachts belonging to Russian billionaires have started sailing towards places where they could be safer. According to The Daily Beast, Marine Traffic reports show that such well-known yachts are headed towards Montenegro or the Maldives (which doesn’t have an extradition agreement with the U.S.). At the risk of being banned or seized, these luxury vessels are now more like ticking bombs than toys for their controversial super-rich owners.
In addition to the risk of being seized, these huge vessels could also be banned from accessing certain waters. UK Transport Secretary Grant Shapps had already announced that Russian flagged, owned, or operated vessels are forbidden to access any UK port, but there are also demands for seizing what is known as “pleasure crafts” owned by oligarchs.
As a result, superyachts belonging to Russian billionaires have started sailing towards places where they could be safer. According to The Daily Beast, Marine Traffic reports show that such well-known yachts are headed towards Montenegro or the Maldives (which doesn’t have an extradition agreement with the U.S.). At the risk of being banned or seized, these luxury vessels are now more like ticking bombs than toys for their controversial super-rich owners.
J’ai demandé à la DGFIP et à TRACFIN d’identifier tous les comptes bancaires, biens immobilier ou bateaux des proches du pouvoir et oligarques russes sous sanctions afin de les priver de l’usage de ces biens. pic.twitter.com/zjQCgrL113
— Bruno Le Maire (@BrunoLeMaire) February 26, 2022
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