France Seizes Russian Assets

France Seizes Russian Superyacht

France has officially seized a massive superyacht belonging to a Russian oligarch who is the head of a state-run energy company.

The French government has seized a superyacht that belongs to Russian oligarch Igor Sechin, France’s finance ministry said. According to French customs authorities, the seizure was executed in accordance with European Union sanctions placed on Russia and oligarchs that are closely affiliated with President Vladimir Putin.

The United States and its allies around the world have come together to issue a series of sanctions against Russia following the country’s invasion of Ukraine.

Sechin’s 280-foot yacht, which he named the ‘Amore Vero,’ is estimated to be worth approximately $120 million, according to reporting by Business Insider. The superyacht has a swimming pool and a helicopter pad, and can house up to 14 guests in its seven suites.

According to Business Insider, Sechin previously served as Russia’s deputy prime minister, and is a close ally of Vladimir Putin. The Russian oligarch was named CEO of energy giant Rosneft in May of 2012.

Rosneft is Russia’s largest oil and gas company, as it has assets worth an estimated $207.5 billion, and accounts for roughly 6 percent of the world’s total oil production.

Sechin is just one of many Russian oligarchs targeted by sanctions in recent days.

The “Amore Vero” superyacht arrived in La Ciotat, a coastal city in southern France, on January 3rd and was due to stay there until April 1st for repairs. But, on Wednesday, March 2nd, customs officers noticed that the yacht “taking steps to sail off urgently, without the repair works being over,” according to a statement from the finance ministry, so the officers decided to seize it.

The French finance ministry says that the yacht’s attempted departure constituted an infraction of a customs code because it was an attempt to breach planned economic and financial restrictions.

“Thank you to the French customs officers who are enforcing the European Union’s sanctions against those close to the Russian government”, Finance Minister Bruno Le Maire said in a tweet.

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Article
Russia

Russia Shoots Own Soldiers as Discipline Breaks Over Shooting of Civilians

Next Article
donors

Convoy Donors Permanently Marked for Life...

Related Posts