Topline
Spain detained a large yacht docked at a Catalonian port Wednesday that is reportedly linked to Russian oil baron Igor Sechin, who has been sanctioned by the European Union over his close ties to Russian President Vladimir Putin.
Key Facts
Spain’s Transport Ministry said the yacht, named Crescent, will be held while authorities determine the vessel’s owner and if they’ve been sanctioned by the European Union over Russia’s invasion of Ukraine.
The vessel — estimated to be worth $493 million by yacht valuation experts VesselsValue — is believed to belong to Sechin, who is the head of the Russian state oil company Rosneft, police sources told Reuters.
Crescent arrived in Tarragona, a port city about 60 miles down the Spanish coast from Barcelona on November 2, according to the transport ministry, and requested to depart on March 4 but did not set sail.
French authorities believed Sechin also owns a yacht seized off the coast of France earlier this month.
Tangent
Sechin has been close to Putin for decades, having served as his chief of staff when Putin was the deputy mayor of St. Petersburg in 1994, and he followed Putin to the Kremlin when he was elected president in 2000. Four years later, Putin tapped Sechin to lead Rosneft. The EU sanctioned Sechen in February, and the U.K. followed suit in March.
Key Background
Ukraine’s allies have targeted yachts with links to Russian oligarchs docked in Europe as part of their efforts to pressure Putin to pull back from Ukraine. A number have been detained by authorities in Italy, France and Spain.
Further Reading
Spain detains yacht thought owned by Rosneft CEO Igor Sechin - ministry, police source (Reuters)
French Government Seizes Yacht Linked To Rosneft Chief Igor Sechin (Forbes)
To Some In Russia, Oil Chief More Feared Than Putin (Forbes)
