Connect with us

Hi, what are you looking for?


Russian billionaire Roman Abramovich’s superyachts flee to sea as sanctions hit

Roman Abramovich’s two superyachts fled to sea this week after the Russian billionaire was included in another round of sanctions against the country’s richest individuals following Russia’s invasion of Ukraine. The Abramovich-owned Solaris – a yacht with a $600 million price tag – was cruising off the coast of Italy as of Friday afternoon, according to the latest available tracking data from The Solaris, which sails under a Bermuda flag, left a port in Barcelona, Spain on Tuesday, without declaring a destination. The superyacht had been undergoing repairs and was based at the Barcelona shipyard since late 2021. Another of Abramovich’s yachts, the 533-foot, $700 million Eclipse, was last spotted sailing off the coast of Africa after departing from the Caribbean in late February, tracking data showed. The Eclipse set sail as international authorities began cracking down on Russia’s oligarchs by seizing their yachts and other prized property. On Thursday, the United Kingdom slapped Abramovich and several other Russian oligarchs with a host of sanctions, including asset freezes and travel bans. The sanctions were the latest effort by the UK and other Western governments to increase financial pressure on Russia’s most wealthy and powerful individuals in an effort to bring Russia’s war on Ukraine to an end. Get the latest updates in the Russia-Ukraine conflict with The Post’s live coverage. The sanctions blocked Abramovich from his hasty bid to sell off his ownership stake in Premier League soccer club Chelsea FC. The British government said it would allow the team to continue playing games, but bar the club from selling tickets and merchandise. Russian oligarchs have scrambled to move their yachts and sell or secure other assets during the crackdown. European authorities have already seized several vessels, including a $120 million yacht belonging to Russian oil magnate Igor Sechin. Abramovich is one of the world’s wealthiest individuals, with a personal fortune estimated at nearly $8 billion, according to Forbes. As The Post previously reported, Russia’s richest individuals have collectively lost tens of billions of dollars since Russian President Vladimir Putin ordered the invasion of Ukraine – with sanctions causing the value of the Russian ruble to reach record lows and forcing the closure of the Moscow Stock Exchange. With Post wires

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like


Activist investor Starboard Value has purchased a 6.5% stake in web services firm GoDaddy worth about $800 million, according to a regulatory filing with...


Contact The Author Female employees at CNN are furious that chief spokesperson Allison Gollust is keeping her job after lying about her affair with...


North Korean hackers managed to steal a fortune in cryptocurrency in 2021, according to the results of a recent study. Cybercriminals based in North...


Katie Couric dished on Jeff Zucker and Allison Gollust’s relationship in her tell-all memoir last fall, saying it struck staffers as “super strange” when...

Business Tribune