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 U.S. government seized a 254-foot yacht in Spain owned by an oligarch with close ties to Russian President Vladimir Putin.

, a billionaire and close Putin ally who heads the Moscow-based Renova Group, a conglomerate encompassing metals, mining, tech and other assets, according to U.S. Treasury Department documents.

It's the first U.S. seizure of an oligarch’s yacht since U.S. Attorney General Merrick Garland and U.S. 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 first sanctioned by the U.S. in 2018, and again in March of this year, shortly after the invasion of Ukraine began. Vekselberg has also been sanctioned by authorities in the United Kingdom.

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