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Date Published: 01/03/2022

ARCHIVED - Russian super yachts at risk of heavy sanctions and Ukrainian vigilantes in Spain

ARCHIVED ARTICLE

Penalties could leave Russian oligarchs without staff to service or supply their lavish ships

<span style='color:#780948'>ARCHIVED</span> - Russian super yachts at risk of heavy sanctions and Ukrainian vigilantes in Spain

Coastal resorts in Spain are no strangers to the luxury vessels of the rich and famous, but a select few super yachts docked in the historic port of Barcelona are attracting more attention than usual. This is because they belong to three Russian oligarchs, and the question still remains if the wealthy owners will be hit by the barrage of sanctions levelled against Putin in retaliation for his invasion of Ukraine.

All three ships are currently in port for refurbishments in the MB92 shipyard, but if Europe and the United States take Russia’s punishment further, Spain may be forced to stop supplying or servicing them.

The largest of the super yachts belongs to shareholder of both the Evraz mining company and Chelsea football club, Roman Abramovich. Next up is the 74-metre Aurora, owned by Andrey Molchanov, who is a controlling shareholder in Russia’s largest building materials supplier. Last but not least, coming in at a colossal 70 metres is the Galactica Super Nova. This luxury craft is owned by Vagit Alekperov, president and chief executive of Lukoil, an energy giant which the EU considers vital to the Russian economy.

Although none of the three are on any formal sanction list at the moment, both President Biden and Prime Minister Boris Johnson have threatened heavier action against individuals and companies that are seen to be contributing to the war against Ukraine. This would include the energy, mining and construction industries, placing all three oligarchs in the firing line.

If this were to happen, sanctions expert Stacy Keen explains that the assets of the men would be frozen rather than seized.

“If the EU were to make a designation equivalent to that made by the UK, no Spanish or other EU business would be allowed to supply services, from fuel to crew, for the use of the yacht. In effect, the yacht wouldn’t be able to function,” she added.

Tensions over the invasion of Ukraine are already running high in Spain, and over the weekend a sailor was arrested in Mallorca for attempting to sink a yacht owned by Alexander Mikheev, the CEO of the Russian arms exporter Rosoboronexport. The Ukrainian man was apparently tipped over the edge when he witnessed a block of flats being destroyed in his home city of Kyiv.

“The owner of this yacht is a criminal who makes his living selling arms that are now being used to kill Ukrainians,” he told police upon his arrest. He has since been released pending charges.

Image: Archive

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