France seizes Russian oil chief’s superyacht as EU sanctions bite

PARIS — France says it has seized a superyacht owned by Russia’s oil czar Igor Sechin, following through on threats to target sanctioned oligarchs close to Russian leader Vladimir Putin.

The estimated $120-million vessel “Amore Vero” was seized while undergoing maintenance work at a shipyard at La Ciotat on the French Riviera, a popular summer playground for the super-rich.

“French customs carried out the seizure of the yacht Amore Vero in La Ciotat as part of the implementation of sanctions by the European Union against Russia,” a statement for the French finance ministry says.

The 85.6-meter (280-foot) vessel was owned by a company “in which Sechin is the main shareholder,” the statement adds.

Authorities moved after it “was preparing to cast off in a hurry, without the work on it having been finished,” junior budget minister Olivier Dussopt says.

Sechin, seen as part of Putin’s tightest inner circle and a former deputy prime minister, is chief executive of Russian oil giant Rosneft.

Another superyacht moored in the Mediterranean port of Monaco, the “Quantum Blue,” owned by Russian billionaire Sergei Galitsky, was also being checked by customs on Thursday, a source in the principality tells AFP.

German authorities deny a report in Forbes magazine that they seized the “Dilbar” yacht, belonging to billionaire businessman Alisher Usmanov, in the port of Hamburg.

Part of the challenge for European authorities is determining the ownership of vessels, which are usually registered in low-tax jurisdictions and sometimes owned by trusts or front companies.