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French Government Seizes Yacht Linked To Rosneft Chief Igor Sechin

Topline

French officials on Thursday seized a yacht they believe belongs to a company owned by Russian oil baron Igor Sechin, a close ally of Vladimir Putin, in the port of La Ciotat, a move that comes just a day after German authorities seized a mega yacht owned by Russian billionaire Alisher Usmanov.

Russian businessman, Rosneft's President Igor Sechin attends the annual meeting with members of Russian Geographic Society (RGO). Getty Images

Key Facts

Announcing the seizure on Twitter, French Finance Minister Bruno Le Maire thanked French customs officers for enforcing the European Union’s sanctions against Russian oligarchs closely linked to Putin.

Sechin is the CEO of Russian oil giant Rosneft. 

A French finance ministry statement shared by Le Maire stated that the yacht was owned by an entity of which Sechin had been identified as the main shareholder.

The statement noted that the yacht arrived in La Ciotat on January 3 and was expected to remain there until April 1 to carry out repairs.

At the time of the seizure, however, the vessel was making hasty arrangements to sail away urgently without the planned repair work being completed.

Key Background

According to Reuters, the seized superyacht was built by Dutch shipbuilder Oceanco in the Netherlands and delivered to its owner in 2013. The vessel reportedly sails under the flag of the Cayman islands.

Tangent

On Wednesday, Forbes first reported that German authorities had seized the 512-foot mega yacht belonging to Russian billionaire Alisher Usmanov. The vessel, called Dilbar, was docked in the Hamburg shipyards of German shipbuilding firm Blohm+Voss since late October for refitting and was seized as part of the European Union’s sanctions against Usmanov.

Section Title

Germans Seize Russian Billionaire Alisher Usmanov’s Mega-Yacht (Forbes)

Biden And Allies Are Coming For Russian Billionaires’ Yachts: Forbes Tracked Down 32. Here’s Where To Find Them (Forbes)

France seizes superyacht, says belongs to Rosneft boss (Reuters)

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