Law enforcement officers boarded the yacht Monday at the Marina Real in Palma, the capital of Mallorca and the Balearic Islands. The United States, the European Union and the United Kingdom have seized several superyachts linked to some of Russia’s richest men to put pressure on oligarchs believed to be close to Putin following his invasion of Ukraine. The last to be stopped is the Tango, the 78-meter-long vessel connected to the Vekselberg, which flies the Cook Islands flag and is registered with a company in the British Virgin Islands. The yacht can accommodate 14 luxury guests in seven cabins, with a crew of 22 people, according to the website SuperYachtFan. Spanish police said in a statement that the yacht was confiscated as part of investigations into fraud, money laundering and forged documents that were allegedly used to hide the ownership of the boat to avoid sanctions. Documents and devices taken for examination were found in the raid. U.S. authorities identified the Tango as Vekselberg’s asset in March, valued at $ 90 million (70 70 million). The U.S. Office of Foreign Assets Control (Ofac) also said Vekselberg had a $ 90 million private jet, an Airbus A319 commonly used by airlines to carry up to 150 passengers. Vekselberg’s assets are estimated at $ 6 billion, Ofac said, with interests covering energy and other sectors through its Renova Group. He amassed his wealth mainly through the privatization of Russian oil and aluminum assets in the chaotic aftermath of the collapse of the Soviet Union. He was first sanctioned by the US in 2018 in response to “Russia’s malicious activity around the world”, including its invasion of Ukraine’s Crimea, which began in 2014, and its support for the dictatorial regime in Syria. Bashar al-Assad. Vekselberg insisted he had no involvement in activities related to Russia’s annexation of Crimea. In 2019 he told the Financial Times that he was targeted because: “I am Russian. I am rich. And yes, I know Putin. “Today, that’s enough.” Prior to the US sanctions, Wexelberg had relocated his family to the United States and sought to cultivate close ties with American politicians. He attended the inauguration of Donald Trump as President of the United States in January 2017 and was a member of the board of the Massachusetts Institute of Technology, one of the leading universities in the United States. Vekselberg has not been sanctioned by the EU, but was added to the UK sanctions list on 15 March. The UK government has chosen to impose sanctions on Vekselberg as part of an “urgent procedure”, a new tool introduced to allow assets frozen by allies sanctioned while the government collects data. Subscribe to the daily Business Today email or follow the Guardian Business on Twitter at @BusinessDesk He had previously sought to establish ties in the United Kingdom, where he was an honorary member of the prestigious Tate Foundation, a fundraising charity for acquisitions, exhibitions, training and capital projects. Tate last month severed ties with Vekselberg following pressure from Labor MP Chris Bryant. The Spanish Civil Guard confirmed that Spanish police and FBI officers were at the marina and were searching the boat Monday morning, and said further details would be released later. The FBI approached for comment. Vekselberg was approached for comment through the Renova Group.
