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Fleeing sanctions, oligarchs seek safe ports for superyachts

Russia Ukraine War Oligarch Superyachts
Posted at 2:04 PM, Mar 06, 2022
and last updated 2022-03-06 16:04:29-05

WASHINGTON (AP) — President Joe Biden has warned Kremlin-aligned oligarchs that the U.S. and its European allies are coming for their superyachts. But actually seizing the behemoth vessels often worth hundreds of millions of dollars could prove challenging.

Many of the boats are flagged and registered in secretive banking havens used by the ultra-rich to shield their wealth from taxes or seizures.

The Associated Press has compiled a list of 56 superyachts believed to be owned by Kremlin-aligned oligarchs and plotted their last known locations.

More than a dozen were underway or had already arrived in remote ports where they might be beyond the reach of Western sanctions.