US seizes yacht owned by oligarch with close ties to Putin

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US seizes yacht owned by oligarch with close ties to Putin
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The capture of the massive yacht is the first in the government’s sanctions enforcement initiative to “seize and freeze” giant boats and other assets of Russian elites.

has seized an oligarch’s yacht since Attorney General Merrick Garland and Treasury Secretary Janet Yellen assembled a task force known as REPO — short for Russian Elites, Proxies and Oligarchs — as an effort to enforce sanctions after Russia invaded Ukraine in late February.

Vekselberg was also questioned in special counsel Robert Mueller's investigation into Russian interference in the 2016 U.S. presidential election and has worked closely with his American cousin, Andrew Intrater, who heads the New York investment management firm Columbus Nova.

The 64-year-old mogul founded Renova Group more than three decades ago. The group holds the largest stake in United Co. Rusal, Russia’s biggest aluminum producer, among other investments. The yacht sails under Cook Islands flag and is owned by a company registered in the British Virgin Islands administered by different societies in Panama, the Civil Guard said, "following a complicated financial and societal web to conceal its truthful ownership."Agents confiscated documents and computers inside the yacht that will be analyzed to confirm he real identity of the owner, it said.

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