Seized Russian Superyachts Costs Taxpayers Millions to Maintain
, 2022-11-09 23:22:30,
Shortly after Russia invaded Ukraine, the United States and other countries around the world seized superyachts owned by Russian oligarchs. With the ties of the oligarchs to Vladimir Putin and the Russian government, the seizures of these massive luxury boats are part of economic sanctions to limit Russia’s ability to wage war against Ukraine. However, the confiscation of the superyachts now has an unfortunate consequence. They cost taxpayers millions of dollars to dock and maintain.
The US seized 7 superyachts from Russian oligarchs
Following the unprovoked invasion, the U.S. and other nations sympathetic to Ukraine sanctioned Russia in the effort to impede its war machine. This included limiting or blocking transactions with Russian banks, other financial institutions, and Russian state-owned enterprises. Also, in the private sector, many major corporations pulled out of Russia.
Additionally, the sanctions target Russian elites. This includes not only government and military officials and their families but also wealthy oligarchs connected to Putin and the government. And one of the easiest targets of all these entities is the oligarchs and their huge superyachts.
These luxury yachts, which are worth hundreds of millions of dollars, were seized at ports around the world — and impounded. The U.S. seized seven of them.
Initially, many people viewed these seizures as a big victory….
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