On Monday a federal judge signed a warrant authorizing the Department of Justice to seize two Jets worth $400 million from Russian Oligarch Roman Abramovich. Meanwhile the Commerce Department’s Bureau of Industry sought to secure penalties of up to twice the value of the aircrafts against Abramovich, in what was seen as a related move.
These moves are part of a broader effort by Western governments to apply pressure to Russian power players in retaliation for Russia’s military action in Ukraine.
The jets being seized are a Boeing 787-8 Dreamliner, and a Gulfstream G650ER, according to documents in the case,
Prosecutors alleged that the planes were flown into Russia after the US imposed export restrictions barring such flights absent a BIS license to export them.
The Boeing, worth $350 million, is presently in Dubai, while the Gulfstream is believed to be in Russia, according to court records.
Abramovich “owned and/or controlled the Gulfstream and the Boeing through a series of shell companies,” according to an affidavit filed by an FBI Agent.
Court papers feature a chart cataloging the ownership of the planes, showing Abramovich controls an entity in Cyprus named “The Europa Settlement Trust,” which controls an entity called Wotten Overseas Holdings Ltd. on the island country of Jersey. Wotton owns Jersey-based shell company called Clear Skies Flights Ltd., which owns the Gulfstream. Wotton also owns another shell company, Wenham Overseas Ltd., out of the British Virgin Islands, which owns the Boeing.
Authorities have already frozen assets valued at more than $7 billion, which they suspect are somehow connected to Abramovich.