Facing sanctions for their ties to President Putin, Russian tycoons are squirrelling away their multimillion-dollar yachts in places where they are less likely to be seized
The French Riviera is looking slightly different this summer: the Russian superyachts that can usually be spotted gliding across its sparkling blue waters are nowhere to be seen.
A task force focused on Russian tycoons has blocked or frozen over $30bn worth of sanctioned assets, including yachts and luxury real estate in a little over 100 days, according to the US Treasury. The crackdown has left the superyacht owners with few destinations to pick from as they steer clear of some of the world’s most popular hangouts for the rich and famous.
The Eclipse, another yacht linked to Abramovich, has been in waters near the town of Gocek in southwestern Turkey since the end of April. It first arrived in Turkey at the end of March from the Caribbean island of St. Maarten.
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