Authorities Have Seized Russian Mega-Collector and Former Tate Donor Viktor Vekselberg's $90 Million Superyacht in Spain | Artnet News

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Authorities Have Seized Russian Mega-Collector and Former Tate Donor Viktor Vekselberg's $90 Million Superyacht in Spain | Artnet News
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Spanish authorities have seized a $90 million superyacht belonging to sanctioned Russian oligarch and major art collector Viktor Vekselberg:

by the U.S. Department of Treasury last month as part of ongoing actions against Vladimir Putin and his allies over Russia’s invasion of Ukraine.

Documents filed in this case allege that Vekselberg, who acquired the superyacht in 2011, used shell companies to hide his property and “avoid bank oversight into U.S. dollar transactions related thereto.”“Today’s seizure of Viktor Vekselberg’s yacht, the Tango, in Spain is the result of an unprecedented multinational effort to enforce U.S.

The confiscation of Tango is the latest in more than a dozen seizures of superyachts owned by Russian billionaires in Europe over the past five weeks, according toIn addition to the boat, U.S. authorities also obtained seizure warrants targeting $625,000 held at nine U.S. financial institutions by several other sanctioned Russians.

Since the onset of the war in Ukraine, many Russian billionaires and art collectors that have alleged ties to Putin have stepped down from their roles with top international museums.Petr Aven, who has been sanctioned by the E.U., as trustee of the Royal Academy in London earlier last month, and the institution returned the donation he made to support the exhibition “Francis Bacon: Man and Beast” .

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