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☆ U.S. charges two men with facilitating sanctions evasion of Russian oligarch's yacht
▼ + stars: | 2023-01-20 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

[1/2] The yacht called "Tango" owned by Russian billionaire Viktor Vekselberg, who was sanctioned by the U.S. on March 11, is seen at Palma de Mallorca Yacht Club in the Spanish island of Mallorca, Spain March 15, 2022. REUTERS/Juan MedinaWASHINGTON, Jan 20 (Reuters) - The U.S. government said on Friday it charged two businessmen, one Russian and one British, with allegedly facilitating a sanctions evasion and money laundering scheme in relation to a $90 million yacht of billionaire Russian oligarch Viktor Vekselberg. Washington imposed sanctions on Vekselberg in 2018 over alleged Russian interference in the 2016 U.S. election, and in 2022 over his ties to Russian President Vladimir Putin after Russia's invasion of Ukraine. Osipov, an employee of Vekselberg, designed a complicated ownership structure of shell companies to hide Vekselberg’s ownership of the yacht, the Justice Department alleged. Vekselberg owned the Renova group of companies, which operate in Russia's energy sector, according to the U.S. Treasury Department, which enforces sanctions.

☆ An ultra-luxury Orient Express superyacht featuring a 15,000-square-foot presidential suite will set sail in 2026. Take a look.
▼ + stars: | 2023-01-15 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +2 min

The Orient Express brand is taking to the high seas with a 720-foot superyacht. The Orient Express Silenseas will have 54 suites as well as a huge presidential suite. The Accor Group, the hotel giant that also owns Sofitel, Mercure and Novotel, said the Orient Express Silenseas will be able to accommodate up to 120 guests. A rendering of the Orient Express Silenseas. Martin DarzacqThe superyacht, set to sail in 2026, is a partnership between Accor and Chantiers de l'Atlantique, a French shipbuilder.

☆ Roman Abramovich transferred superyachts and private jets worth $4 billion to his children just before the Ukraine invasion, report says
▼ + stars: | 2023-01-08 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Roman Abramovich transferred assets to his children before the Ukraine invasion, per The Guardian. Assets worth more than $4 billion were transferred to his seven children only three weeks before the start of the war, the report said. His children's beneficial interest in the trust's assets – including the Eclipse superyacht worth $700 million and shares in Russian companies – rose from 51% to 100%, per the report. Companies controlled by Abramovich's trusts had assets worth $2.5 billion at the end of 2021, per the reports. Abramovich seemingly reorganized other assets just weeks before the invasion of Ukraine.

☆ Inside the 'Fly Fleet': billionaire Google founder Sergey Brin's growing flotilla of megayachts, boats, and jet skis
▼ + stars: | 2023-01-06 | by ( Rob Price | Hugh Langley | ) www.businessinsider.com time to read: +3 min

In a quiet harbor in California's Redwood City, 30 miles south of San Francisco, there often sits a gleaming 40-meter yacht flying the flag of the Marshall Islands. Along with Butterfly, which often docks in Redwood City, California, Brin maintains a growing flotilla of yachts, jet skis, and skiffs. To maintain the fleet, Brin employs a 50-person team around the globe, led by the master mariner Mike Gregory. InsiderMany of Brin's smaller water-sports toys — as well as Page's — have been supplied by Kai Concepts, a startup that builds high-tech aquatic vehicles, including foilboards and a kite-propelled boat. While he spends much of his time at his collection of tropical islands around the world, he has sold his superyacht Senses and downsized to an assortment of smaller vessels.

☆ Qatar 2022: $480,000-per-week yacht plays host to super rich
▼ + stars: | 2022-12-12 | by ( Ben Church | ) edition.cnn.com time to read: +5 min

Doha, Qatar CNN —It’s been dubbed the ‘Arabian Riviera,’ where the streets are immaculate and are interspersed with luxury hotels offering shimmering views across the marina. Now in Doha, guests can organize limousines ferrying them to World Cup stadiums for the tournament’s games. Guests can also request to take the yacht out of the marina to view the city from afar. A superyacht World Cup stay offers something very different from some of the other accommodation available to guests in the city during the tournament. From tents in the desert to portacabins on the edge of Doha, World Cup organizers have had to be innovative in providing accommodation options to fans with the influx of an estimated 1.5 million people staying in a nation smaller than Connecticut.

☆ Larry Page, Sergey Brin Post-Google Lives: Investments, Yachts, Islands
▼ + stars: | 2022-12-11 | by ( Hugh Langley | Rob Price | ) www.businessinsider.com time to read: +33 min

Even before their retirement from Google, Page and Brin relied heavily on their respective family offices to bring order to their worlds. The Bay Area headquarters of Koop, Larry Page's family office, is nondescript and gives little indication of the billionaire's empire. Insider; Marianne Ayala/Insider Show less Bayshore Global Management, Sergey Brin's family office, is based in Palo Alto and has a bit more of a public face. Insider; Marianne Ayala/Insider Show lessThe difference in styles holds true for Brin's family office, Bayshore Global Management. The CEO of Page's family office is Wayne Osborne, a former elder in the Presbyterian Church who attended Princeton Theological Seminary.

☆ A $200m superyacht seized from Putin's apparent choice for a Ukrainian puppet leader is being sold at auction, with Ukraine keeping the proceeds
▼ + stars: | 2022-12-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The yacht of pro-Kremlin Ukrainian politician Viktor Medvedchuk is being sold by Ukraine. Medvedchuk was said to be Vladimir Putin's top choice for a puppet leader in Ukraine. He was also believed to be Vladimir Putin's top choice for a puppet leader to replace Volodymyr Zelenskyy in the event Russia successfully overthrew the Ukrainian government. While Croatia seized the yacht in March, police only searched it on November 19 after a search warrant from the US justice department was approved, according to the Croatian Jutarnji list. It added that it's also searching for a $540 million yacht, which is owned by an unnamed Russian oligarch.

☆ Crew on a 160-foot superyacht sleep in tiny hidden cabins and only get paid about $1,400 a month – but the tips can be big
▼ + stars: | 2022-11-27 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

It's important to get on well with your colleagues, the superyacht crew told Insider. For the crew, however, it's a rather different story: they must spend months working very long days before going to sleep in tiny cabins tucked away on the vessel. The crew cabins are hidden away at the rear of the main deck. Rijeka told Insider she's trying to save as possible to achieve her dream of opening a bar in Hawaii. GooletsThe captain's right-hand man Zoran Vidović, 39, told Insider that working on a superyacht can be very enjoyable but is often quite demanding.

☆ Superyacht chef shows life at sea serving the world's richest is far from glamorous — from grueling 18-hour days to a guest who asked to 'heat the Adriatic'
▼ + stars: | 2022-11-25 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Former yacht chef Melanie White revealed what it's like to work at sea in her new tell-all book. Melanie White working on a superyacht. Courtesy of Melanie WhiteIn the book, White details the often grueling experience, which included working 18-hour days cleaning bathrooms and guest quarters. In the book, White compared her role to that of a fairy, magically and nearly invisibly doing tasks to please guests. Courtesy of Melanie White"The success of a business or boat lives and dies with the compatibility of the employees," White wrote.

☆ Superyacht rentals, private jets and a soccer-themed hotel: Dubai is cashing in on the Qatar World Cup
▼ + stars: | 2022-11-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +6 min

A yacht that can be rented to watch the World Cup while sailing around Dubai is docked in Dubai harbor on November 1, 2022, ahead of the Qatar 2022 FIFA World Cup football tournament. Paul Griffiths, CEO of Dubai Airports, in August called Dubai "the major gateway" to the World Cup and predicted it would see more tourists than Qatar itself. Getty Images | A general view of the West Bay area ahead of the FIFA World Cup Qatar 2022 at on November 18, 2022 in Doha, Qatar. "Its tourism infrastructure and straightforward entry requirements make it a convenient base for World Cup fans." Dubai, meanwhile, as a city has more than 140,000 hotel rooms, according to hotel data firm STR.

☆ I spent a night on a superyacht and now I know why the superrich love them so much
▼ + stars: | 2022-11-13 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

I spent a night on a superyacht in Croatia that can accommodate up to 30 people. The superrich love them and the yachting industry is booming and I now know why. Miha Menegalija of charter broker Goolets says owning a superyacht is one way to showcase your wealth. GooletsBefore boarding the Ohana, I had never been on a boat, let alone on a superyacht. It may not come as a great surprise, but I certainly could get used to spending plenty of time on a superyacht.

☆ A petition calling for a sanctioned Russian oligarch's superyacht to be used as a hotel for Ukrainian refugees has gained almost 30,000 signatures
▼ + stars: | 2022-11-07 | by ( Stephen Jones | ) www.businessinsider.com time to read: +3 min

A petition is calling for a seized superyacht to become a hotel for Ukrainian refugees. A retired engineer set up the petition to reuse Amore Vero, which is linked to oligarch Igor Sechin. The 80-foot Amore Vero was seized by French authorities in March and is being held in the port of La Ciotat, east of the city of Marseille on France's southern coast. The owner of the Amore Vero is not publicly known, although it has been heavily linked to Igor Sechin, chief executive of the Russian oil giant PJSC Rosneft. In September, officials in Gibraltar completed the first sale of a seized superyacht since the beginning of the war.

☆ Take a look inside this $3 million superyacht that sails in Croatian waters and features a hot tub and jet ski
▼ + stars: | 2022-10-30 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: 1 min

The restaurant is on the main deck, which also has some guest cabins. It also features an outdoor seating area with access to the swimming platform.

☆ South Africa will allow a Russian oligarch to moor his superyacht in Cape Town as it continues on epic global cruise avoiding Western sanctions
▼ + stars: | 2022-10-26 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The yacht, owned by sanctioned billionaire Alexei Mordashov, is now headed to Cape Town, South Africa. Nord has now left the city state, and is sailing towards South Africa where it is expected to moor on November 9, Marine Traffic data shows. When it arrives in South Africa, it will be allowed to dock, despite outcry from some in the country. "South Africa has no legal obligation to abide by sanctions imposed by the US and EU," Vincent Magwenya, a spokesman for South African President Cyril Ramaphosa said, per the BBC. South Africa was among the 35 countries which abstained from a UN resolution in March which demanded the withdrawal of Russian troops from Ukraine.

South Africa will allow sanctioned Russian steel magnate Alexey Mordashov to pull his superyacht into Cape Town, making it the latest port stop on a controversy-laden voyage that shows the limits of Western sanctions. The journey of the 465-foot Nord—from the Seychelles to Vladivostok in Russia, Hong Kong and now en route to Cape Town—has become a closely watched barometer for the effectiveness of U.S. and European sanctions on its owner, Mr. Mordashov, one of Russia’s richest men and the largest shareholder of Severstal PAO, among the world’s biggest steelmakers.

☆ 20 crew members supply Roman Abramovich's $600 million superyacht with provisions, electricity, and water every day as the Ukraine war wages on, report says
▼ + stars: | 2022-10-24 | by ( Kate Duffy | ) www.businessinsider.com time to read: +2 min

A crew supplies Russian billionaire Roman Abramovich's yacht on a daily basis, a worker told the NYT. The yacht is docked in Turkey, a country that hasn't yet imposed sanctions on Russia over the war. The worker said that the crew came on a daily basis to supply the yacht with electricity, water, and provisions, as well as remove the waste onboard. His Solaris yacht has avoided sailing into EU territory since the Ukraine war broke out. Yalıkavak Marina told The Times in a statement that Solaris was kept outside of the marina's boundaries because of "international concerns."

☆ Yacht linked to sanctioned Russian tycoon leaves Hong Kong
▼ + stars: | 2022-10-21 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

HONG KONG — A superyacht linked to sanctioned Russian tycoon Alexey Mordashov left Hong Kong for South Africa on Thursday, nearly two weeks after the U.S. accused the city of operating as a safe haven for sanctioned individuals. The marine department confirmed that the $500 million superyacht Nord left Hong Kong on Thursday afternoon but did not elaborate. The Nord arrived in Hong Kong on Oct. 5 from Vladivostok, Russia, putting the Chinese territory in the crosshairs of U.S.-China tensions. The U.S. State Department said the presence in Hong Kong of assets belonging to sanctioned individuals called into question the “transparency of the business environment” in the city. Hong Kong leader John Lee later said that while Hong Kong complies with United Nations sanctions, authorities “cannot do anything that has no legal basis” when it comes to sanctions unilaterally imposed by other jurisdictions.

☆ Photos: Unfinished Superyacht From 2007 up for Auction for $1.5 Million
▼ + stars: | 2022-10-21 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

But to finish the project, its future owner will have to cough up at least $16 million for lower-end finishes, according to estimates from shipyards in Greece and Turkey, Jack Mahoney, a director at Boathouse Auctions, told Insider in an email.

In Spain, six vessels were frozen following sanctions imposed after Russia's invasion of Ukraine in February. The "majority" of the owners are paying their maintenance, crew, docking and insurance fees, a source with knowledge of the matter said. In March, Spain's Prime Minister Pedro Sanchez vowed, when announcing the freezing of one yacht in Spain, to hit Putin's allies "decisively" and "hard". read more read moreProposals by the United States and European Union to sell seized Russian assets and give the proceeds to Ukraine have stalled. In France, five yachts have been frozen.

☆ A travel planner for the ultrawealthy shares what goes into organizing $800,000 trips to exclusive locations
▼ + stars: | 2022-10-13 | by ( Mark Ellwood | ) www.businessinsider.com time to read: +9 min

Jules Maury is the head of Scott Dunn Private, an ultraexclusive division of a luxury travel firm. She was raised in a wealthy family and learned how to plan luxury trips by taking them herself. Jules Maury was 12 when she made her first hotel booking. She handles trips for the world's wealthiest people along with a team of four travel advisors and six booking specialists. But even an expert travel planner lacks some knowledgeMaury still relishes the chance to travel, and she spends much of the year on the road, often attending luxury travel shows like ILTM in Cannes or Pure in Marrakech.

☆ Superyacht struggle: Is Hong Kong now safe harbor for sanctioned Russians?
▼ + stars: | 2022-10-12 | by ( Marie Brockling | ) www.nbcnews.com time to read: +5 min

A superyacht linked to a Russian oligarch has produced the latest ripple of tensions between the United States and China after it moored in Hong Kong’s harbor. Hong Kong said Tuesday it would not seize the superyacht, defying Washington and raising fears that the global financial hub could become a haven for individuals sanctioned over the war in Ukraine. “Secondary sanction is more a practical matter rather than a legal or moral matter as Hong Kong banks handling Russian transactions could be sanctioned,” Sun added. The Hong Kong Marine Department did not respond to a request for comment on the number of Russian yachts in its harbors. “We will have to see how much money eventually flocks to Hong Kong and how they are being handled in order to assess the impact on U.S.-China relations,” Sun said.

☆ Hong Kong says it won't seize the $500 million Russian oligarch yacht docked in its waters, as there is 'no legal basis' for the move
▼ + stars: | 2022-10-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

A $500 million superyacht believed to be owned by a sanctioned Russian oligarch is in Hong Kong. Hong Kong leader John Lee said there's "no legal basis" to seize the vessel. The US has warned Hong Kong against being a "safe haven" for sanctioned oligarchs. But Hong Kong has not taken any action against the yacht. "I'm not going to comment on the effects of such barbaric act because officials in Hong Kong do what is right to protect the interests of the country and the interests of Hong Kong.

The 465-foot superyacht "Nord", owned by the sanctioned Russian oligarch Alexey Mordashov is seen docked, in Hong Kong, China October 7, 2022. REUTERS/Tyrone SiuHONG KONG, Oct 11 (Reuters) - Hong Kong leader John Lee said on Tuesday there was "no legal basis" for the city to act on Western sanctions, when asked about a Russian yacht berthed in the financial centre that belongs to a sanctioned Russian oligarch. Hong Kong authorities were criticised by the U.S. State Department for allowing a luxury yacht belonging to sanctioned Russian oligarch Alexey Mordashov to dock in Hong Kong waters last week. Instead, Lee said Hong Kong would only abide by United Nations sanctions. Officials in Hong Kong do what is right to protect the interests of the country and the interests of Hong Kong.

☆ In Hong Kong, Sanctioned Russian Tycoon’s Superyacht Sparks U.S.-China Spat
▼ + stars: | 2022-10-10 | by ( Newley Purnell | ) www.wsj.com time to read: 1 min

The anchoring in Hong Kong waters of a sanctioned Russian oligarch’s superyacht is ramping up tensions between Beijing and Washington, which warned against the financial center being used as a safe haven. The 465-foot Nord, owned by steel magnate Alexey Mordashov , moored west of the Chinese territory’s Victoria Harbour last week after departing from the far-eastern Russian city of Vladivostok, according to website MarineTraffic.

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