Topline

Two yachts moored in Antigua are confirmed to belong to Roman Abramovich and could possibly be seized, the Financial Times said on Friday, the latest assets to come under scrutiny as Western countries tighten sanctions against Russia’s most prominent and wealthy elites.

Key Facts

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The British High Commission to Barbados told Antiguan officials that two boats docked in the country’s Falmouth Harbor were beneficially owned by billionaire Abramovich, according to to a letter seen by the FT,

The letter confirms the paper’s report that Abramovich appeared to own the vessels earlier this week, the paper said.

It’s possible the boats could now be seized, as Antigua has previously said it will enforce US, EU and UK sanctions against Russian individuals and entities.

The vessels, Halo and Garçon, are respectively worth about $38 million and $20 million, the FT said, citing valuation service VesselsValue.

Abramovich, the owner of Chelsea Football Club, has been sanctioned by the UK and EU for his close ties to Russian President Vladimir Putin, though he has not been subject to US sanctions, reportedly after a request from Ukrainian President Volodymyr Zelensky.

If seized, the yachts will join a growing pile of assets from sanctioned Russian elites that have been seized or frozen following the country’s invasion of Ukraine, including two helicopters owned by Russian billionaire Alisher Usmanov on the French Riviera last week.