Russia and Ukraine: Confiscation of luxury yachts for Russian oligarchs

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French authorities have confiscated Russian oligarch Igor Sechin’s yacht

Authorities in some European countries have begun confiscating luxury yachts belonging to Russian oligarchs – the wealthy elite – as part of sanctions imposed on Russia after its invasion of Ukraine.

Near Marseille, French customs confiscated a yacht from Igor Sechin, the boss of the Russian state oil company Rosneft.

German authorities have confiscated a yacht, valued at $600 million, belonging to mining giant Ali Sher Usmanov, according to reports.

These are the latest moves against Russia in light of mounting sanctions.

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