In recent days, with news of sanctions targeting Russian oligarchs, the incredible fleet in the world’s seas that belongs to the circle of businessmen close to Russian leader Vladimir Putin has emerged. A fleet with a total value of about $10 billion. Almost 50 percent of this amount is in the hands of only three oligarchs-Abramovich, Usmanov, Melnichenko. Yachts of Russian oligarchs are luxurious, equipped with every entertainment, communication, and also security system. Real floating cities that collectively employ an average of about 5,000 crew members.
These superyachts, owned by Russian oligarchs, are either forcibly moored as seized or sailing to safe harbors, especially after the United States and its allies prepared sanctions on their properties following the invasion of Ukraine.
Below we will look at some of the key players in the European sanctions, including those who suffered seizures in Italy.
The 9 superyachts of the Russian oligarchs
According to Financial Times, Russia holds about $800 billion in economic resources, half of it abroad. So the country, the citizens, can count on a state with assets of approximately $400 billion. Going to read the names of some of these “monstrous jewels of the sea” we understand how economic hegemony is concentrated in the hands of a few. The Russian oligarchs featured in this article alone (with the exception of Putin) have assets estimated by Forbes to be close to $150 billion.
These few are precisely men close to Putin who have been able to properly exploit the country’s main resources: raw materials and energy resources. After years of affluence, now these oligarchs could see their assets drastically reduced, precisely because of the sanctions that will be implemented by member states on the very assets, including superyachts. Some of them, following Russia’s invasion of Ukraine, are beginning to rebel and are clamoring for an end to hostilities.
Data reviewed by International Marine Traffic show that at least four superyachts owned by Russian business leaders have moved in recent hours to Montenegro and the Maldives. This came as a result of the announced and extensive series of sanctions.
The fleet was summarized in a graphic posted by the Twitter account @PutinIsAVirus. This account is meticulously updating the geographical positioning of the oligarchs’ superyachts. Among them some are also in Italy, since our country in addition to being famous for its coastline is also a leader in the construction maintenance of these yachts.
9 Russian oligarchs’ superyachts in sanctions crosshairs
LADY M – Superyacht by Alexei Mordashov
52-meter superyacht with an estimated value of $65 million
The yacht moored in Imperia is owned by Alexei Mordashov, president of Severstal and whose family is considered the richest in Russia and whose name appears on the European Union’s blacklist. Mordashov is a businessman and the main shareholder and chairman of Severstal, a Russian conglomerate with interests in metallurgical, energy and mining companies.
Lena – Superyacht by Gennady Timchenko
52-meter superyacht with an estimated value of $50 million
It is not ruled out that the same fate could befall this yacht moored at Portosole in San Remo, belonging to Gennady Timchenko, owner of Volga Group, a 30-year friend of Putin, and considered, according to a recent Forbes survey, the sixth richest man in Russia.
Dilbar – Superyacht by Alisher Usmanov
- 156-meter superyacht with an estimated value of $800 million
Alisher Burkhanovich Usmanov is a Uzbek-born entrepreneur in the metal industry who has a net worth of $19.5 billion, according to Bloomberg. His yacht DILBAR, the world’s largest by volume, was seized by German authorities in Hamburg harbor. The 512-foot yacht built in 2016 is one of the world’s largest superyachts. Usmanov issued a statement that the seizure decision is “unfair and defamatory.”
Eclipse / MY Solaris – Superyacht by Roman Abramovich
- ECLIPSE 162-meter yacht with an estimated value of $1.2 billion
- MY SOLARIS 139-meter yacht with an estimated value of $600 million
The oligarch, who has his permanent home in London, is most famous for being the chairman of the Chelsea soccer team, a club that was sold to the Chelsea Foundation just hours before European sanctions were triggered. Of Ukrainian descent, Abramovich is among the key players in the negotiations between Russia and Ukraine. The Jewish-born businessman has already declared that proceeds from the sale of Chelsea will go to families affected by the war.
His yacht MY SOLARIS, in recent days has been seen in the waters off the port of Barcelona, then heading in the direction of Port of Montenegro, where sanctions do not yet apply. In fact, the long process of joining the European Union, which began in 2011, will only complete its cycle in 2025. In contrast, the other yacht ECLPISE has been spotted in the Caribbean, but will most likely have another destination port soon.
Sailing Yacht A / Motor Yacht A – Superyacht by Andrey Igorevich Melnichenko
- SAILING YACHT A of 143 meters in length equipped with 3 masts worth an estimated 450 million
- YACHT A of 118 meters in length with an estimated value of 300 million
Melnishenko is a Russian billionaire, owner of the world’s largest fertilizer company called EuroChem Group and owner of the oil company SUEK. His yacht is probably more famous than he is in that he often sails in Italian waters.
It was in recent days at Fincantieri shipyards in Trieste for routine maintenance when it was stopped by Italian authorities for enforcement of European sanctions. He is said to have a personal wealth of more than $18b. In addition to the sailing yacht named A, he is also the owner of the $188 million motor yacht A.
Galactica Super Nova – Superyacht by Vagit Alekperov
- GALACTICA SUPER NOVA yacht with a length of 70 meters worth an estimated $80 million
Vagit Alekperov, president of Lukoil, the largest oil company based in Russia, is sailing his yacht from Barcelona to Montenegro, where he is expected to arrive in the next few days, according to sea traffic data. He is said to have lost in the last 7 days 40 percent of his personal wealth, estimated at $20 billion.
Clio – Superyacht by Oleg Deripaska
- CLIO 73-meter-long yacht with an estimated value of $65million
His yacht reportedly left Sri Lanka two weeks ago and is headed for the Maldives, where it is expected to dock soon. Deripaska is no stranger to sanctions, having been sanctioned back in 2018 by the United States. “Peace is the priority. Negotiations must begin as soon as possible,” Deripaska tweeted Sunday.
Outside this review is Vladimir Putin’s Gracefull superyacht, with an estimated value of $100 million.
- GRACEFULL 80-meter-long yacht with an estimated value of $100 million
And finally the yacht of the architect of this situation, Vladimir Putin. The Russian president has a yacht that is small in size compared to fellow oligarchs, but still equipped with all the security equipment that increases its value. Putin’s superyacht left Hamburg earlier this month before finishing maintenance work; according to German media reports, the Russian president did not stay in Germany because of his awareness of the impact of the war sanctions were about to unleash.
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