Where Are Russian Yachts Hiding?

Russian oligarchs’ yachts have been scattered across the world’s seas, with four of them heading south to avoid EU-protected waters like Barcelona. Some European countries have now seized yachts linked to sanctioned Russians. The US and Spanish authorities recently conducted a joint operation in Sint Maarten, a Dutch overseas territory linked to the EU. The Yachts for Ukraine Act, a bipartisan bill in Congress, would allow authorities to seize any property valued at more than 5 million held by Russians.

As part of an international pressure campaign on Russia, authorities from around the world have seized over a half-dozen superyachts belonging to billionaire oligarchs allied with Russian oil tycoons Evgeny Shvidler and Igor Sechin. At least five Russian billionaires have moved their yachts to the Maldives as the EU imposed sanctions, ship-tracking data has shown. French authorities have seized a super yacht owned by an oligarch as part of the sanctions against Russia. A mega yacht reportedly owned by a Russian oligarch sits in an UAE port to avoid legal wrangling.

At least four superyachts owned by Russian business leaders have set sail for Montenegro and the Maldives in recent days, according to data from various sources. Authorities have detained yachts and aircraft and ordered a freeze on homes that prevented sanctioned Russian oligarchs from sailing. Superyachts and multimillion-dollar properties have already been seized or frozen by authorities in Italy, France, Spain, the UK, and Gibraltar. The man spearheading the US hunt for the yachts, private jets, and cash stashes of sanctioned Russians warned they may struggle to hide their assets.