May 3, 2022 - World
Fiji court rules U.S. can seize $325 million Russian superyacht
A court in Fiji ruled Tuesday that the U.S. can seize a superyacht worth $325 million that American officials say is owned by sanctioned Russian oligarch Suleiman Kerimov, according to Bloomberg.
Why it matters: The U.S. Department of Justice created a task force in March to enforce sanctions, including asset seizures, placed on Russian officials for facilitating the Kremlin's unprovoked invasion of Ukraine.
- The ruling sets up a battle over who actually owns the Amadea. Lawyers for Millemarin Investments, the vessel's registered owner, have denied that Kerimov is the owner, Reuters reports.
- Kerimov, an official in the Russian government who controls the largest gold producer in the country, has been sanctioned by the U.S. and European Union for money laundering and tax evasion.
- If passed by Congress, a plan proposed by the Biden administration would liquidate assets seized from Russian oligarchs and use the proceeds for military and humanitarian aid to Ukraine.
Go deeper: How many Russian oligarchs' yachts have been seized so far