PALMA DE MALLORCA, Spain (AP) — The U.S. government seized a mega yacht in Spain owned by an oligarch with close ties to the Russian president on Monday, the first in the government’s sanctions initiative to “seize and freeze” giant boats and other pricey assets of Russian elites.
Highlights
- The yacht is among the assets linked to Viktor Vekselberg, a billionaire and close ally with Russia’s President Vladimir Putin, who heads the Moscow-based Renova Group.
- All of his assets in the U.S.
- are frozen and companies are forbidden from doing business with him and his entities.
- The move is the first in the government’s sanctions initiative to “seize and freeze” giant boats and other pricey assets of Russian elites.
- The Tango yacht is a 78-meter (254-feet) vessel that carries Cook Islands flag and that Superyachtfan.com, a specialized website that tracks the world’s largest and most exclusive recreational boats, values at $120 million.