Tag: Alexei Mordashov

The recent arrival of a team of 24 FBI agents in Cyprus marks a critical step in the global enforcement of sanctions against Russian oligarchs and their enablers. This move underscores the island’s evolution into a significant financial center, attracting substantial Russian money and technology entrepreneurs from Israel. The agents are set to assist Cypriot police in unraveling the complex web of financial transactions and support provided to sanctioned Russians by local professionals.

The Guardian reports that Italian law enforcement has seized villas and yachts worth at least €140m from four Russian oligarchs, placed on an EU sanctions list after Russia invaded Ukraine. They forfeited a villa owned by the billionaire businessman Alisher Usmanov on Sardinia and a villa on Lake Como owned by Vladimir Soloviev. They also seized superyachts belonging to Russia's richest man, Alexei Mordashov and Gennady Timchenko. The hunting season against the Russian kleptocrats continues.

The U.S. and EU apparently want to increase pressure on Putin through the oligarchs. The assets are mainly in bank accounts or real estate abroad. Or in ports. U.S. President Joe Biden fired a warning shot at Russian oligarchs during his State of the Union address on Tuesday evening, saying that the U.S. will seize much of their wealth in the country. "We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets," Biden said in his address. "We are coming for your ill-begotten gains."