Billionaire Usmanov’s superyacht said to be seized

The boat is estimated to be worth $594 million, according to the Bloomberg Billionaires Index.
Image: Bloomberg

Russian billionaire Alisher Usmanov’s superyacht, the world’s largest by volume, was seized by German authorities in Hamburg, according to Forbes.

The German government has frozen the Dilbar, Usmanov’s 512-foot yacht, the publication said, citing three unidentified industry sources. Built in 2016 and named after his mother, the boat is estimated to be worth $594 million, according to the Bloomberg Billionaires Index.

The European Union adopted sanctions on six of Russia’s wealthiest individuals on Monday, including Usmanov, who called the decision “unfair” and “defamatory.” The Dilbar had been undergoing refitting in the northern German city.

Superyachts and other opulent displays of wealth among Russia’s elite have drawn intense scrutiny since the country’s invasion of Ukraine, even making it into US President Joe Biden’s State of the Union address.

Rosneft Chairman and Chief Executive Officer Igor Sechin’s superyacht was impounded by French customs officials on the Cote D’Azur.

“We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets,” Biden said during Tuesday’s address.

Five other individuals were named in the latest EU sanctions: Mikhail Fridman, Petr Aven, Alexey Mordashov, Gennady Timchenko and Alexander Ponomarenko. Mordashov owns two superyachts: the Nord, which is in the Seychelles, and Lady M, anchored in Imperia, Italy.

Some Russian tycoons also still have superyachts docked in Europe. Roman Abramovich’s Solaris is in Barcelona; Iskandar Makhmudov’s Predator is in Genoa, Italy; and Vagit Alekperov’s Galactic Super Nova is in Montenegro, among others, according to data tracked by Bloomberg.

Usmanov, 68, owns a major stake in USM, a Russian investment group with holdings in Metalloinvest, one of the world’s largest iron ore producers, and telecommunications company MegaFon. He’s the sixth-richest Russian with a fortune of $19.5 billion, according to Bloomberg’s wealth index, though that figure includes the Dilbar.

Russian President Vladimir Putin has also been sanctioned by US, EU and UK authorities. He has been linked by news organisations including Business Insider to the superyacht Graceful.

That boat left Hamburg February 7, about two weeks before Russia invaded Ukraine. It’s now in Kaliningrad, Russia.

© 2022 Bloomberg

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Yes!

Rule No1:- Always follow the money. And when the nouveau riche oligarchs find themselves stuck in a flat in Moscow with nowhere to go for the summer other than the bleak Black Sea, they may just decide to pay a few dubious characters to remove the source of their discomfort.

Read history …

Putin started carpet bombing today. Can’t fight a ground war …

The world needs to step up. Take some energy cost pains for a year. Breaking OPEC+ and stuffing Putin back into the Stone Age will be just reward. The individual OPEC countries need to decide whether they want implicit NATO protection in the future, or not.

We have at least 4 readers that love short-man-syndrome dictators! Who would have thought we are partly Napoleonic

soon Putin will be just another short, bald, former despot. He had his (honorary) 9th dan black belt stripped and been fired from head of judo world. Add the confiscated yachts and 80% drop in russian shares and this was a bad month all things considered. Hide the poodle, might get kicked

End of comments.

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