As the U.S and other nations stepped up sanctions against Russia in response to Moscow’s invasion of Ukraine, French officials recently confiscated four cargo ships and one luxury boat tied to Russian billionaires. The Russian vessels are anticipated to stay in the harbor where they were held. However, because the operators of the Russian yachts have been prohibited, they are unable to pay their staff or docking costs. According to Maltby, the conversation on superyacht Facebook pages implies that workers on these vessels are not certain they will be compensated and have left the ship, or will do so in the near future.
US President Joe Biden declared that the US will make a significant effort to take the assets of Russian billionaires. “We are collaborating with our European partners to locate and confiscate your boats, luxury homes, and private aircraft,” Biden declared in his State of the Union speech on March 1. “We’re on our way to take your ill-gotten wealth.”
According to the ministry of finance, the boat was held by a company with Sechin as the major stakeholder. The statement came as Hamburg officials disputed allegations that Usmanov’s boat had been confiscated in the German port city’s shipyards. “There have been no confiscations of boats,” stated a representative for Hamburg’s commercial department. “A handover is likewise not envisaged at this time.” No boat will leave the harbor if it is not permitted to do so.” Any order to take assets subject to penalties, according to the Hamburg municipal government, would have to come with higher federal customs officials.
The 280-foot yacht has been parked in southern France’s La Ciutat since early January and was scheduled to remain there until the end of March for maintenance, according to CNBC. However, the French Ministry of Finance stated that the boat was about to set a course when officials began their lengthy inspection. The yacht’s fate is unknown. Authorities in Hamburg have now rejected the allegation, with a representative for the country’s economic agency informing The Guardian that “no yachts have been seized.” Any decision to take possessions subject to penalties, they noted, would have to come from higher federal customs officers.