Oligarchs Begin Losing Their Luxury Yachts

 

by Pa Rock

Citizen Journalist

Not only is Russia suffering staggering losses of combat troops, military equipment, and international prestige through it's ill-conceived and poorly implemented war on Ukraine, it's people are suffering at home both through the traditional costs of war as well as through special hardships caused by international economic sanctions against their government.

It is always the poor and those without real power who endure the most indignities, pain, and death in any war.

But with the Russian invasion of Ukraine, some of Russia's wealthier citizens are also beginning to experience the personal pain of war - at least in their wallets.

The Russian oligarchs, a class of people who rushed in and stole their nation's wealth and resources when the Soviet Union collapsed nearly forty years ago, are now dealing with governments arbitrarily taking their assets, and, in particular, their big, luxury yachts.

Since the Russian war on Ukraine began on February 24th, at least seven enormous private vessels have been seized by European governments, and two more and stuck in ports and cannot return home.  Italy leads the field with the seizure of four yachts belonging to Russian olkgarhcs.  So far the Italians have taken the "Lady M" valued at $27 million, the "Lena" worth $8 million, the "Sy A" (Sailing Yacht A), a $440 million prize, and the "Gennady," which is worth somewhere between $8 million and $55 million.

Spain ranks second in the total number of boat seizures with two:  The "Valerie" with an estimated value of $140 million and the "Crescent," a true prize worth $600 million.

The French have so far grabbed only one:  the "Amore Vero" worth $120 million.

Germany has the ultra expensive "Dilbar," priced at $735 million, in one of its ports and is not allowing it to leave.  Although the German government is not officially claiming to have "seized" the "Dilbar," the impact is the same:  another rich Russian rogue has lost control of his boat.

This morning there is a news story circulating about a group of individuals who have also managed to "seize" the yacht of a Russian oligarch.  The "Ragnar," a super yacht worth $85 million and belonging to an associate of Putin and former US Commerce Secretary Wilbur Ross, is stuck in a port in northern Norway because no one will sell it fuel.  The fuel suppliers in the harbor are suggesting that the crew "row" their boat home!

"Row, row, row your boat gently 'cross the sea!"

That is nine very luxurious sailing vessels that are now beyond the control of their owners, and certainly there will be more to follow - all thanks to the war-mongering of Vladimir Putin.   The poor and downtrodden have little recourse as they are ground into the bloody horrors of war, but the ultra-rich oligarchs might just have some options in dealing with the man who cost them their big boats and put their wealth and lifestyles at risk.  

Money talks, and sometimes it bares it teeth and bites!

(Maybe the big boats should all be armed and given to Ukraine - or perhaps used to house Ukranian refugees.)