Legal Brief: International Campaign Against Russian Yachts, Other Assets Continues

By Leily Faridzadeh, Legal Writer

Russia has drawn widespread international censure and harsh economic sanctions from the U.S., EU, and other jurisdictions since Feb. 24, when the Kremlin-ordered invasion of Ukraine commenced. The initial volley of sanctions cratered the value of the ruble, which has since rebounded. Western nations then raised the ante even by announcing plans to target kleptocrats and corrupt actors linked to Russia's President Vladimir Putin. On March 2, a day after delivering his first State of the Union address, U.S. President Joseph Biden outlined his administration's plans to blacklist Russian oligarchs and seize their property, including yachts and real estate. The...