Amid sanctions, Russian oligarchs scramble to seek safe havens for their superyachts
India Today
Russia-Ukraine war: As Russian oligarchs face sanctions over their ties to Russian President Vladimir Putin and in retaliation for the invasion of Ukraine, the centibillionaires are now looking for safe places to stow their superyachts.
The massive superyacht Dilbar stretches one-and-a-half football fields in length, about as long as a World War I dreadnought. It boasts two helipads, berths for more than 130 people and a 25-meter swimming pool long enough to accommodate another whole superyacht.
Dilbar was launched in 2016 at a reported cost of more than $648 million. Five years on, its purported owner, the Kremlin-aligned Russian oligarch Alisher Usmanov, was already dissatisfied and sent the vessel to a German shipyard last fall for a retrofit reportedly costing another couple hundred million dollars.
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That’s where she lay in drydock on Thursday when the United States and European Union announced economic sanctions against Usmanov — a metals magnate and early investor in Facebook — over his ties to Russian President Vladimir Putin and in retaliation for the invasion of Ukraine.
“We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets,” President Joe Biden said during his State of the Union speech Tuesday night, addressing the oligarchs. “We are coming for your ill-begotten gains.”
But actually seizing the behemoth boats could prove challenging. Russian billionaires have had decades to shield their money and assets in the West from governments that might try to tax or seize them.
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