Since Russia‘s invasion of Ukraine in February 2022, Western countries have sanctioned a number of Russian oligarchs, including seizing their super yachts. These sanctions are intended to put pressure on the Russian government to end the war and hold those responsible accountable.
What is a Superyacht?
A superyacht is a luxury yacht that is typically over 24 meters (79 feet) long. Superyachts are often equipped with a variety of amenities, including swimming pools, helipads, and movie theaters. They can be worth millions or even billions of dollars.
Why are Russian oligarchs’ Super Yachts being sanctioned?
Russian oligarchs are wealthy individuals who have close ties to the Russian government. They have been accused of benefiting from corruption and helping to finance the Russian war machine. By sanctioning their superyachts, Western countries are hoping to put pressure on the oligarchs to use their influence to pressure the Russian government to end the war.
Executive Order 14024 of April 15 2021
The List So Far Of Sanctioned Super Yachts
|British Virgin Islands
|St. Vincent and the Grenadines
|Non-Profit Partnership Revival of Maritime Traditions
|Zig Zag Ocean (Formerly Flying Dragon)
What is EO14024 Russia sanctions?
Under Executive Order (E.O.) 14024, “Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation,” any person determined to operate or have operated in certain sectors of the Russian Federation economy may be blocked.
What Call Sign means?
A call sign is the letters and numbers which identify a person, vehicle, or organization that is broadcasting on the radio or sending messages by radio.
What does IMO mean in Vessel / Super Yachts?
The International Maritime Organization (IMO) number is a unique seven-digit number that identifies a vessel. The number is made up of the letters “IMO” followed by a seven-digit number. The pattern is “NNNNNNN”, where N is a single-digit number, for example, “1234567”.
The IMO number is assigned to each vessel for identification purposes and is permanently associated with the hull. The number stays with the vessel until it is scrapped and never changes, regardless of the ship’s owner, country of registration, or name.