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Business Daily: Superyachts and sanctions

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Superyachts and sanctions

09/03/2022 GMT

BBC World Service - Business Daily, Superyachts and sanctions

Oligarchs fear asset seizures in Russian sanctions clampdown

Oligarchs fear seizures of property and luxury yachts amidst the Russian sanctions clampdown.

A race is on to spot and catch some of the world's biggest and most dazzling yachts owned by Russian oligarchs with ties to President Vladimir Putin in retaliation for the Kremlin's invasion of Ukraine.
Several of these multi-million dollar floating assets have been seized by US and European governments. But it's proving difficult to track the vessels, and then there is the issue of what to do with them, often with crew of up to 60 personnel on board. Ed Butler talks to sanctions lawyer Nigel Kushner of WLegal, Alex Finley, writer, former CIA officer and superyacht watcher,  Graham Barrow a veteran money-laundering expert and journalist Jack Hogan of Superyacht News.

(Image:Luxury yachts and motor cruisers moored in Port Vell, Barcelona, Catalunya, Spain, Credit: Getty Images)

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