that’s a no-no

The U.S. Treasury has imposed sanctions on a Monaco-based yacht services company with ties to the Russian elite, part of its ongoing efforts to target assets connected to Russian President Vladimir Putin and his inner circle.

Imperial Yachts is a Russian-managed brokerage headquartered in Monaco, and it provides a full portfolio of megayacht services, from design and ordering to chartering and ship management. It maintains a Moscow office and – according to the Treasury – is a popular choice of Russia’s yacht-owning elite. The company serves at least one vessel linked to a U.S.-sanctioned individual.

The Treasury has listed Imperial Yachts and its CEO, Russian national Evgeniy Borisovich Kockman, for the offense of operating or having operated in the marine sector of the Russian economy. It also specifically identified one yacht connected to Imperial Yachts, the Flying Fox, as blocked property.  Read on.