German Authorities Said to Deny Seizing Usmanov Yacht
(Bloomberg) -- Alisher Usmanov's superyacht, the world's largest by volume, is docked in the northern German city of Hamburg but hasn't been seized by the government after the Russian billionaire was hit with European Union sanctions this week.
The Dilbar, Usmanov's 512-foot yacht, had been undergoing refitting in the northern German city. Forbes reported Wednesday that the German government had frozen the boat, which is estimated to be worth $594 million by the Bloomberg Billionaires Index.
The Ministry for Economy and Innovation in the German state of Hamburg said the country's authorities have not seized the Dilbar, Forbes reported Thursday. In a statement, the ministry said Germany's federal customs agency must issue an export waiver for the boat to depart and that “no yacht leaves port that is not allowed to do so.”
In France, customs officials blocked Rosneft Chief Executive Officer Igor Sechin's superyacht from an urgent departure from the Mediterranean port of La Ciotat, near Marseille, according to the French Finance Ministry. Sechin was also sanctioned on Monday.
The move underscores the fast-moving nature of the penalties levied by Europe on ultra-rich Russians seen as having close ties to Russian President Vladimir Putin. Under the sanctions, individuals are barred from moving their property.Â
The European Union adopted sanctions on six of Russia's wealthiest individuals on Monday, including Usmanov, who called the decision “unfair” and “defamatory.”
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 U.S. President Joe Biden's State of the Union address.
“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.Â
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.Â
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.Â
Russian President Vladimir Putin has also been sanctioned by U.S., EU and U.K. authorities. He has been linked by news organizations including Business Insider to the superyacht Graceful.Â
That boat left Hamburg Feb. 7, about two weeks before Russia invaded Ukraine. It's now in Kaliningrad, Russia.Â
©2022 Bloomberg L.P.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
