![]() ![]() Welcome, Alex!Īs sanctions fell on several of Russia’s vaunted oligarchs following Vladimir Putin’s invasion of Ukraine, eyes began to turn to their vast wealth. We wanted to start a bit later, but felt compelled to jumpstart the series as Russian oligarchs desperately try to relocate their floating palaces to safe havens amid efforts by Western countries to ratchet up the pressure on Putin and his cronies to stop the war on Ukraine. “However sad they are to let go of their Western assets, oligarchs have even more to lose if Putin is no longer there to protect them.Welcome to the inaugural column of Yacht Watch (Tagline: "We're going to need a bigger boat") from Whale Hunting Contributor Alex Finley, a novelist and former CIA officer with the insight to explore who runs the world through the prism of super yachts. “Sanctions are another example of the West doing what it does best, which is just throwing a lot of cash at the problem and hoping it gets solved,” Olga Chyzh, a professor of political science at the University of Toronto, told the Washington Post. Some are wondering whether seizing the oligarchs’ private yachts and jets will work. They are not only hard to trace, but actually seizing and selling them could present a legal quagmire that could take years to resolve. Ownership of many Russian yachts is often hidden by shell companies in tax havens like the Cayman Islands. The builder said Heesen is 100-percent Dutch-owned company and that Pavel Sukhoruchkin and Pavel Novoselov had nothing to do with its day-to-day operations. ![]() Heesen Yachts released a statement that two Russians sitting on its supervisory board of directors have resigned their positions. Italian yacht builders Sanlorenzo and Azimut both released statements that they have limited exposure to Russian clients, and none are on the sanctions list. The seizures have prompted the superyacht industry to distance itself from the oligarchs. The superyacht Scheherazade was impounded in Italy during an investigation to uncover whether it is owned by Russian President Vladimir Putin. The Italian Sea Group, which owns the shipyard where Scheherazade is dry docked, said that, based on “checks carried out by relevant authorities,” the yacht is “not attributable to the property of Russian President Vladimir Putin.” Bennett-Pearce said he would provide Italian police with documents that divulged the owner’s name. The yacht’s captain, Guy Bennett-Pearce, told the Times that Putin had no stake in the yacht, but declined to name the owner. The New York Times reported that the US government has made no definite conclusions about the yacht’s ownership, but believe it could be owned by the Russian president. ![]() US intelligence officials have also said they are trying to link the Scheherazade, a $700 million superyacht in dry dock in Italy, to Putin. He has no political affiliations,” said the statement. “He has no relation to the tragic events in Ukraine. A spokesperson said in a statement that Melnichenko has nothing to do with politics and that he has removed himself from the board of Eurochem and SUEK after the EU sanctioned him. Melnichenko owns the major fertilizer producer EuroChem Group and SUEK, a coal company. Porsche’s New EV Charging Station in Germany Includes a Luxe Lounge for Drivers This Stunning 1957 Ferrari 250 GT Tour de France Zagato Is up for Grabs at Monterey Car Week This 276-Foot Hybrid Superyacht Emits 90% Less Carbon Than Gas-Powered Vessels ![]()
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