Dutch Govt. Stops Yacht Deliveries To Russian Buyers

The Dutch government mentioned on Wednesday that it is trying to make sure a dozen yachts ordered by wealthy Russians are not being delivered to any individual. The restriction has come as part of sanctions imposed due to the country’s invasion of Ukraine.

Wopke Hoekstra, the Dutch Foreign Minister, mentioned to the parliament via a letter that the oft-complicated and debatable ownership of the yachts are thoroughly investigated to make sure that no such vessels are allowed to leave the construction yard.

Several oligarchs of Russia who are a target by the EU sanctions now have looked toward the Netherlands, a conventional seafaring nation, for the super-luxury yachts that the world’s richest individuals often covet.

Representation Image

On Monday, the US government seized a 254-foot luxury yacht in Spain. It was owned by an oligarch who shared close ties with Putin. The move was the first of its kind by the Biden administration under sanctions that were introduced after Kremlin’s invasion of Ukraine and targeting luxury assets of Russia’s elites.

The authorities of Spain have seized a vessel worth more than $140 million owned by the chief executive of a Russia’s state-owned defense conglomerate who is also a close Putin ally. Italy has also managed to seize many luxury yachts.

The superyachts that were seized by France includes one that is believed to be Igor Sechin’s, who is a Putin ally who operates Russia’s oil giant dubbed Rosneft, which has been on the US sanctions list from the time Russia had reportedly annexed Crimea from Ukraine in 2014

Reference: nwaonline.com

Dutch Govt. Stops Yacht Deliveries To Russian Buyers appeared first on Marine Insight – The Maritime Industry Guide

Source: Maritime Shipping News