Skoch is the latest Russian oligarch to have one of his luxury assets targeted by US authorities, who have launched a campaign to seize valuable assets of those close to the Kremlin in hopes of forcing an end to the war. In June, US authorities announced that a judge had approved a warrant to seize two of Roman Abramovich’s private jets, worth more than $400 million. In May, the US seized a $300 million superyacht called Amadea, owned by Suleiman Kerimov. And in April, authorities seized the $90 million Tango yacht owned by Viktor Vekselberg, a billionaire with close ties to Russian President Vladimir Putin, in a Spanish port. On Monday, a federal judge approved a seizure warrant from a special agent with the U.S. Department of Commerce, Bureau of Industry and Security, who traced the plane to Skoch through a series of shell companies allegedly intended to shield his ownership. Authorities allege Skoch violated U.S. sanctions by using U.S. dollars to pay the plane’s registration fees to Aruban authorities and to pay insurance premiums for the Airbus that went through U.S. financial institutions. The $113,180 in registration payments and $284,459 in premiums went through the US banking system without a license to allow payment to sanctioned entities. The seizure warrant notes that, in addition to the plane, Skoch owns a yacht named Madame Gu, a helicopter and a villa at the Four Seasons Hotel in the Seychelles. These assets are not subject to seizure. Authorities must prove the sanctions were violated, such as by moving money through the US banking system, to seize property. Prosecutors have creatively used insurance premiums and registration payments to identify assets to seize, since most yachts and airplanes cannot operate without insurance. Since the US, UK and European Union announced broad sanctions against Russian elites, several insurance companies have stopped doing business with sanctioned individuals.
