May 5, 2022 - World
U.S. says superyacht owned by Russian oligarch seized in Fiji
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Fiji's government seized a $300 million yacht that American officials say belongs to sanctioned Russian oligarch Suleiman Kerimov, the Department of Justice announced Thursday.
Why it matters: Kerimov is an official in the Russian government who controls the largest gold producer in the country and has been sanctioned by the U.S. and European Union for money laundering and tax evasion.
- A Fijian court ruled earlier this week that the 348-foot luxury vessel could be seized at the request of the U.S. government.
The big picture: The 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.
- 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
