More than a dozen yachts owned by sanctioned Russian oligarchs have been seized — or identified for seizure — since the invasion of Ukraine began, according to public reports reviewed by Axios.
Why it matters: The fleet of yachts impounded around the world so far is worth more than $2.5 billion. That's, ultimately, a drop in the bucket of sanctioned Russian assets, yet one that's garnered outsized publicity as a symbol of the plundered wealth enjoyed for so long by Vladimir Putin's cronies.
The big picture: The day after President Biden's State of the Union address last month, the Justice Department announced the formation of a special task force intent on using "every tool to freeze and seize" the assets of sanctioned Russian oligarchs.
- Task Force KleptoCapture's first trophy was secured last week. Spanish authorities acted at the request of the U.S. to seize a $90 million, 255-foot yacht owned by billionaire Viktor Vekselberg.
- Authorities have separately seized or moored Russian-owned yachts docked in Italy, France, Croatia, the U.K., the Dominican Republic, Germany, and Antigua and Barbuda.
- Desperate to find safe harbor, some oligarchs have set for international waters or countries that have not been enforcing Western sanctions.
What to watch: A community of online spectators has coalesced under the Twitter hashtag #YachtWatch.
- Some accounts like @SanctionsAhoy are providing automated updates that track the movement of select oligarch yachts.