US Wants Forfeiture Of Sanctioned Russian Businessman's $300M Yacht

Facts

• The US has filed a complaint asking for a $300M yacht docked in San Diego, California that allegedly belongs to sanctioned Russian billionaire Suleiman Kerimov to be forfeited. However, another Russian businessman — the former president of Rosneft Oil, Eduard Khudainatov, who is not under sanction — filed a lawsuit against the US on Monday, claiming to be the owner of the yacht and requesting its release.¹
• As Washington stepped up sanctions enforcement against people close to Russian President Vladimir Putin in May 2022, Fiji authorities seized the 348-foot (106-meter) Amadea yacht as the US pressed its case against the Russian owner.²
• The Amadea, according to CharterWorld Luxury Yacht Charters, has features including a helicopter landing pad, a mosaic-lined pool, fire pits, and a theater.³
• The US Dept. of the Treasury first imposed sanctions on Kerimov in 2018 over charges of money laundering. Kerimov is connected to the Russian government and is reported to be worth $14B.⁴
• In court documents, the DoJ alleged Khudainatov was a 'straw owner' who couldn't even afford to maintain the Amadea and another superyacht he claimed to own.⁵
• In June 2022, Forbes estimated that Khudiainatov was worth at least $2B because of his 100% ownership of his Independent Petroleum Company and his Russian and Italian mansions.¹

Sources: ¹Forbes, ²Reuters, ³Business Insider, ⁴CNBC and ⁵NBC.

Narratives

• Establishment-critical narrative, as provided by Bloomberg. At best, the focus on seizing Russian billionaires' assets is a distraction from formulating a more realistic strategy to defeat Putin and restore Ukraine. At worst, it's evidence of clear hypocrisy, given the US wasn't sanctioned for invading Iraq for equally unjustified reasons. Either way, seizing superyachts doesn't help Ukraine.
• Pro-establishment narrative, as provided by Fortune. Seizing Russian assets, including those belonging to sanctioned individuals, is crucial for escalating economic pressure on the Kremlin. If the Western countries can navigate the legal complications, the assets should be transferred to Ukraine to help fund its defense and rebuild the nation.