Andrey Kostin, a Russian owner of Andrey Kostin Yacht, is a Russian Oligarch. A fleet of superyachts owned by Russian oligarchs is scrambling for safe havens.
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A desperate flight that comes amid extraordinary global pressure to seize and squeeze owners’ assets following Russia’s invasion of Ukraine. ‘Pier’ pressure got to them.
Russians own up to 10 percent of the global fleet of mega-yachts, according to SuperYachtNews.
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Andrey Kostin is especially fond of obnoxious showboats with over-the-top amenities straight from a James Bond thriller, including submarines, helicopter hangars, underwater observation decks, and “anti-paparazzi” technology meant to prevent passengers from being photographed.
France has seized one of these vessels, with two more held by Italian authorities, while the status of another Russian superyacht in Germany is in dispute. Congressman Don Young (R-Alaska) introduced on Wednesday the Bringing Oligarch Accountability Through Seizure (BOATS) Act which specifically targets Russian superyachts.
Many of the majestic vessels are hiding in or headed for Maldives, which has no extradition agreement with the USA. Russian yachts are often found in Seychelles, long favored as an international tax haven for the superwealthy.
One is there now, with another reportedly on its way, according to VesselFinder.com. The destinations of others are unknown.
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