. Germany Seizes Russian Oligarch’s $800 Million Yacht - News Times

Germany Seizes Russian Oligarch’s $800 Million Yacht

By News Here - 12:07

Russian oligarch Alisher Usmanov's yacht

Clive Brunskill/Getty Images

Germany seized Russian oligarch Alisher Usmanov’s $800 million yacht on Wednesday, reported Forbes.

On Monday, the European Union sanctioned Usmanov, who is reportedly worth $14.2 billion, in response to Russia‘s military invasion of Ukraine. His wealth comes from the iron and steel industry.

Usmanov reportedly paid $600 million for the custom-made motor yacht, which is one of world’s biggest, in 2016. It has the biggest swimming pool of any yacht. It also includes a beauty salon, a sauna, a gym and two helicopter pads. It has 12 suites that can fit a maximum of 24 people.

While the United States has announced sanctions against Russian elites, it has yet to sanction Usmanov, though it is reportedly expected to do so. During his state of the Union address on Tuesday, President Joe Biden called out Russian oligarchs and pledged U.S. action against them that included announcing a Department of Justice task force to target them and their assets.

“Tonight I say to the Russian oligarchs and corrupt leaders who bilked billions of dollars off this violent regime: No more,” he said. “I mean it.”

“We’re joining with our European allies to find and seize their yachts their luxury apartments your private jets,” he added. “We’re coming for your ill-begotten gains.”

Germany isn’t the only European country to seize a yacht of a Russian oligarch. France confiscated energy executive Igor Sechin’s yacht.

The post Germany Seizes Russian Oligarch’s $800 Million Yacht first appeared on Mediaite.

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