Multinational Force Seizes $30 Billion Assets of Russian Oligarchs

According to a report on Wednesday (June 29th), a multinational task force assembled to seize Russian wealth announced that it had confiscated or blocked $30 billion in its first100 days. The items seized included yachts, homes and other property.

The details emerged as NATO leaders gathered in Madrid, Spain, to discuss further military action against President Vladimir Putin and as President Joe Biden announced the dispatch of warplanes and naval ships to Europe.

The Russia-Ukraine war has reached a critical moment as Russian troops have begun to gain the upper hand in a long-range war of attrition in the Donbas region of eastern Ukraine.

“‘After a transpacific journey of over 5,000 miles, the Amadea has safely docked in a port within the United States, and will remain in the custody of the U.S. government, pending its anticipated forfeiture and sale,” the Department of Justice said in a statement.
Spanish police and FBI agents seized the 255-foot, $90 million Tango yacht in Mallorca, which owned by Viktor Vekselberg who borned in Ukraine.

These are just some of the luxury goods seized under a plan to drain Russian’s resources as President Vladimir Putin continues to invade Ukraine, despite concerns from civil rights advocates about potential excesses.

Treasury Secretary Janet Yellen and Attorney General Merrick Garland had a meeting with the REPO task force along with several countries in March. They work together to investigate and prosecute Putin and his allies.

The European Commission has also set up its own Freeze and Seizure Working Group in cooperation with the REPO group.