Spain Seizes Russian Oligarch's $90 Million Yacht at Request of US

A $90 million yacht owned by sanctioned Russian oligarch Viktor Vekselberg was seized by Spanish law enforcement at the behest of the U.S., DOJ announced April 4. The 255-foot luxury yacht, the Tango, was subject to forfeiture following the issuance of a seizure warrant filed in the U.S. District Court for the District of Columbia. The warrant alleged that the yacht was subject to forfeiture based on violations of U.S. bank fraud, money laundering and sanctions laws, DOJ said.

Vekselberg allegedly bought the vessel in 2011, using shell companies to cover his interest in the Tango to skirt oversight into U.S. dollar transactions relating to the ship. The seizure warrant alleges that after his placement under U.S. sanctions in 2018, Vekselberg continued to make payments in U.S. dollars through American banks for maintenance of the Tango. His interest in these payments required him to obtain a license from the Treasury Department, which he didn't do, DOJ said.

The yacht's seizure stems from the work of Task Force KleptoCapture -- the interagency task force established to enforce sanctions action against Russia relating to its invasion of Ukraine. The action is the task force's “first seizure of an asset belonging to a sanctioned individual with close ties to the Russian regime. It will not be the last,” Attorney General Merrick Garland said. “Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war.”