US Sanctions Putin-linked Yachts

To address Russian attempts to evade unprecedented U.S. sanctions, the Department of the Treasury imposed a fresh round of sanctions targeting key Russian government officials and business leaders with close ties to President Vladimir Putin.

In a statement, the treasury department said that it was sanctioning Monaco-based Imperial Yachts and its Russian CEO, Moscow-born Evgeniy Kochman.

Additionally, the Treasury’s Office of Foreign Assets Control identified the largest yacht currently available for charter through Imperial Yachts, Flying Fox.

Imperial Yachts SARL is a yacht brokerage that offers a variety of services relating to superyachts. In addition to their head office in Monaco, Imperial Yachts maintains an office in Russia’s capital and provides yacht-related services to the country’s elites, including those in President Vladimir Putin’s inner circle. Imperial Yachts conducts business with U.S.-designated oligarchs.

The Treasury identified four yachts in which Putin travelled: the Nega, the Graceful, the Olympia and the Shellest.

The U.S. Government also imposed sanctions against close Putin associate and money manager of Putin’s offshore wealth, Sergei Roldugin and his family members; Russian ministers overseeing key sectors integral to the Russian economy; and the President of United Aircraft Corporation, a state-owned company that plays a leading role in supporting the defense industry and supplying the military’s destructive activity in Ukraine.

The Department of State has targeted additional Russian oligarchs and elites close to Putin. This includes God Nisanov, a close associate of Russian officials; Maria Zakharova, spokesperson for the Russian Foreign Ministry; and Alexey Mordashov, one of Russia’s wealthiest billionaires, in addition to his family members and companies, including one of Russia’s leading domestic steel producers.

In a move to restrict the Russian military’s ability to obtain technologies to sustain its aggression against Ukraine, the Department of Commerce added 71 Russian and Belarusian entities to the Black List, effectively cutting them off from obtaining U.S.-origin items or foreign-made products derived from certain U.S. technology or software.

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