SANCTIONS have been placed on Russian oligarchs after their nation's invasion of Ukraine.
This has caused a growing number of oligarchs to move their assets – including their yachts.
Where are the Russian oligarchs' yachts?
Since Russia invaded Ukraine on February 24, 2022, western countries have rolled out sanctions designed to cripple President Vladimir Putin's economy.
But the most prosperous and influential Russians keep their assets far away from their homeland.
The Russian oligarchs' famous yachts are scattered throughout the world's seas.
As Europe and North America mull further sanctions, Marine Traffic data shows that four oligarch-owned yachts headed south.
They ditched EU-protected waters like the coast of Barcelona to dodge officials who could eventually seize their ships.
Embattled oligarch Roman Abramovich, who's caught up in the sale of Chelsea football team, will also be worried about his mega-yacht, "Eclipse".
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It's currently docked in the Dutch-Caribbean island of St. Maarten, according to Page Six.
A spokesman for Abramovich claimed he is not subject to sanctions anyway.
The Maldives became a yacht hot spot as Victor Rashnikov and Oleg Deripaska's luxury vessels dropped anchor there, according to Bloomberg.
Alexei Mordashov and Andrey Kostin choseto travel to the Seychelles in their respective boats.
Crucially, neither the Maldives nor the Seychelles has announced sanctions against Russia or its citizens.
Vagit Alekperov's yacht sailed from Barcelona to Montenegro, as reported by Balkan Insight, despite the country's ongoing attempts to keep billionaires from hiding assets on its shores.
Will the US seize the Russian oligarchs' yachts?
US President Joe Biden wants to hit Russian tycoons where it hurts: their bank accounts.
His country is "coming for [oligarchs'] ill-begotten gains," he warned in his 2022 State of the Union Address.
He said: "We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets."
The Russian billionaires are thought to be some of the only people who have Putin's ear.
Sanctions against the average citizen living in Russia might not move the superrich, but it's hoped that threats of seizing foreign assets could.
America's Department of Justice is forming a task force – called "KleptoCapture" – to do just that, says Biden.
UK Foreign Secretary Liz Truss had previously warned oligarchs "nothing's off the table" when it comes to plucking up their plush London assets.
Two days after Biden's speech, German authorities snatched Alisher Usmanov's mega-yacht in a Hamburg harbour, according to Maritime Executive, with more seizures expected.
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What other major sanctions have been placed on Russia?
Western countries started sanctioning Russian banks, billionaires and politicians the day Putin sent troops into Ukraine.
This means Russian entities can't access their bank accounts.
Perhaps the most crushing blow came when Russia was removed from the Swift network.
The Society for Worldwide Interbank Financial Telecom facilitates speedy exchanges between banks all over the globe. Without Swift, transacting with Russia becomes much more difficult.
Plus, private companies from Disney to Land Rover are racing to distance themselves from Russia as they stop trade with the state.
All the while, new technology blocks are keeping Russia from western social media and video services.
All you need to know about Russia’s invasion of Ukraine
Everything you need to know about Russia’s invasion of Ukraine…
- Why is Russia invading Ukraine?
- Will the UK go to war?
- How can I join the Ukraine foreign legion?
- What can I do to help Ukraine?
- Who is Ukraine's president Volodymyr Zelenskyy?
- How much gas does the UK get from Russia?
- Is Russia a part of Nato?
- Does Russia have nuclear weapons?
- Why is Ukraine not in Nato?
- How big is the Russian army?
- What is Article 5 of the Nato treaty?
- What is the Minsk agreement?
- Which countries were in the Soviet Union?
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