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U.S. Gets Authority To Seize 2 Jets Of Russian Oligarch Roman Abramovich
- By The Financial District
- Jun 8, 2022
- 2 min read
According to court records, a US court issued warrants for the seizure of two luxury planes owned by Russian billionaire Roman Abramovich on Monday (Tuesday, June 7, 2022, in Manila) as part of US sanctions imposed after Russia's invasion of Ukraine.
Photo Insert: The $350 million Boeing 787 Dreamliner and the $60 million Gulfstream G650 ER owned by Abramovich are not in US possession
However, the prospect of the US government acquiring custody of the almost $400 million aircraft was dubious.
The $350 million Boeing 787 Dreamliner and the $60 million Gulfstream G650 ER are not in US possession, according to a Department of Justice official, who also declined to clarify whether the US government knows where they are, Luc Cohen and Karen Freifeld reported for Reuters.
The warrants were issued by a federal judge in Manhattan on the grounds that recent flights had breached US export regulations set following Russia's invasion of Ukraine in February. Abramovich was charged with similar administrative offenses by the US Department of Commerce.
According to the department, the Gulfstream flew from Istanbul to Moscow on March 12, then to Tel Aviv the next day before returning to Istanbul on March 15. The Boeing landed in Moscow on March 4, according to the department.
Abramovich, a Russian national, would have needed a license from Commerce to fly the planes to Russia because they were made in the United States and the flights took place after export restrictions were imposed.
Although no licenses were requested, an administration official informed reporters that such requests are routinely denied. Among other penalties, the government may seek punishment of up to $328,121 per unlicensed flight, or nearly $1 million for the three flights.
Abramovich owns both planes through shell companies registered in Cyprus, Jersey, and the British Virgin Islands. He restructured the ownership structure in February, making his children the beneficiaries of a trust that owns both planes on paper.
