The UK Government announced today it has prohibited maintenance works on aircraft or ships belonging to Russian oligarchs sanctioned over ties with Putin.
Laid in Parliament today as a Statutory Instrument, the new legislation hit already Russian businessmen Eugene Shvidler, whose aircraft have been detained since last week, and TCS Group founder Oleg Tinkov.
Foreign secretary Liz Truss said the government will continue to ramp up pressure “so long as Russian troops are in Ukraine”, targeting oligarchs’ businesses but also their assets and lifestyle.
“Today’s legislation adds new routes at our disposal to deprive oligarchs’ access to their luxury toys,” added transport secretary Grant Shapps. “Our economic and transport sanctions are working to suffocate those most complicit in Putin’s regime ensuring that no one on UK soil can support Putin’s inhuman assault in Ukraine.”
The legislation – also extended to finance and trade – comes a day after officers from the National Crime Agency yesterday seized a £38m super yacht belonging to a unsanctioned businessman.
Renamed Phi, the yacht’s ownership was “deliberately well hidden” as it carried a Malta flag while the company owning it was based in St Kitts and Nevis, City A.M. reported.
“Today we’ve detained a £38m super yacht and turned an icon of Russia’s power and wealth into a clear and stark warning to Putin and his cronies,” said Shapps in a statement.
“Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from Russian connections.”
Even though the owner was not subject to UK sanctions, seizing the vessel was legal under a Department for Transport’s regulation established on 1 March which bans “ALL ships with ANY Russian connection whatsoever from entering British ports.”