France seizes two Yachts owned by Russian Oligarch.

Written by on March 24, 2022

French authorities have confiscated two luxury yachts belonging to one of Russia’s most influential businessmen, the latest move by Western governments to seize the assets of associates of President Vladimir Putin over his invasion of Ukraine.

A government source told newsmen on Wednesday that the 17-metre vessel worth 22 million dollars belonging to Alexey Kuzmichev, a main shareholder of the Alfa conglomerate, was seized in the Mediterranean resort of Cannes on March 16.

While his 26-metre boat that was being serviced in nearby Antibes, reportedly worth 70 million euros, was seized on Monday.

The European Union said in a March 15 statement announcing sanctions against Russians suspected of being close to Putin, Kuzmichev, aged 59, has well-established ties to the Russian president.

Amen J Kantiyok

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