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Latvian Radio in Ukraine: Companies, luxury yachts and homes – Ukraine confiscates assets of Russian war supporters
“Here it is – “Royal Romance”! The TSN film crew managed to get on the yacht. It is one of the largest in the world. The yacht of the traitor and Putin’s ally!” a journalist says excitedly.
It is the end of February when the joint delegation of Ukrainian law enforcement officers, officials and journalists arrived in Croatia. The goal is to see in person the yacht of the pro-Russian oligarch, a close ally of Putin and a former member of the Verkhovna Rada of Ukraine, who was arrested in favor of Ukraine before the sale.
Ukrainian officials raided the property, which was temporarily owned by Medvedchuk’s wife, after the full-scale invasion began.
By the decision of the Croatian court, the yacht was arrested and handed over to the National State Assets Search and Management Agency of Ukraine, but in reality it was parked in a ship repair company in Croatia, on the coast of the Adriatic Sea.
The yacht continued to be serviced by the oligarch’s crew all this time, and it was not easy for the Ukrainian delegation to get on board. Medvedchuk’s lawyers are waiting for them there.
“Very well prepared lawyers. They had prepared. But we did not sleep either – we had prepared,” said the representative of the National Agency for Search and Management of Assets of Ukraine (ARMA).
After the involvement of the local police and the court, the representatives of the General Prosecutor’s Office of Ukraine, the State Property Management Agency and journalists still manage to get on board. However, before looking at the watercraft, everyone should take off their shoes so as not to damage the delicate deck.
“We are allowed to film only one guest cabin. Mahogany is used in its decoration. On the wall is a reproduction of the work of the French painter Paul Gauguin, the original of which is in the Hermitage in Russia,” said the journalist. “And the most exclusive place on this yacht is the pool on deck! It is the largest pool that the builder of this yacht has installed on board.”
Putin’s ally Viktor Medvedchuk’s 92.5-meter superyacht “Royal Romance”
Photo: imago images / Peter Seyfferth, Peter Seyfferth
Ukrainian politician Medvedchuk bought this 92-meter long superyacht shortly after the Euromaidan revolution in 2014. The value of the yacht is estimated by the media at around 200 million US dollars or 187.5 million euros.
Medvechuk is described as one of the biggest lobbyists of the “Russian world” in Ukraine. His daughter’s godfather is Vladimir Putin. The two have not hidden their relationship in public, and this opened many doors for Medvedchuk. He was a member of the Ukrainian parliament from the later banned party “Opposition platform – for life”.
“I do not consider Russia an aggressor in this situation,” Medvedchuk once described Russia’s activities in Ukraine.
Several years ago, he was charged with treason and the politician’s wealth came to light – exclusive properties, pots of gold, a private train carriage and many other things.
After the full-scale invasion began, Medvedchuk tried to flee Ukraine, but was captured and later traded to Russia for 200 prisoners of war. Now Medvedchuk lives in Moscow, and from there he is trying to get favorable decisions in the Ukrainian courts regarding the lifting of sanctions, the recovery of the mandate of a member of parliament and the restoration of Ukrainian citizenship.
In parallel, he is active in Russia in the political formation “Other Ukraine”, whose members repeat the narratives of Russian propaganda.
Ownership of Medvedchuk’s superyacht was initially hidden in offshore companies, but the tracks were eventually cleared, and Ukraine is preparing to sell the yacht this spring.
Olena Duma, head of Ukraine’s National Asset Search and Management Agency, or ARMA
Photo: Indra Sprance / Latvijas Radio
“For the first time in the history of Ukraine and in the practice of ARMA, the asset search and management agency announces that it is starting the realization of assets seized abroad – with Medvedchuk’s yacht “Royal Romance”,
said Olena Duma, head of Ukraine’s National Agency for Asset Search and Management, or ARMA.
“We are already receiving applications from auction houses around the world. The winner will hold a public tender and go down in history as an ally in the fight against evil. But the one who buys Medvedchuk’s yacht will give a political blow to the Putin regime and go down in world history. The money from the sale of the yacht will be used for the defense capabilities of Ukraine for strengthening,” she continued.
ARMA has also put Medvedchuk’s exclusive cars, watches up for sale and plans to sell more than 260 of his paintings.
But Medvedchuk is not the only one whose assets in Ukraine are being confiscated in favor of the state.
Latvijas Radio turned to the Ministry of Justice of Ukraine to find out how many sanctioned properties of Russian oligarchs have already been confiscated in Ukraine.
Although the officials did not find time for a face-to-face interview, detailed written answers to these questions were received.
“Currently, the Ministry of Justice has submitted 40 claims to the Supreme Anti-Corruption Court for the confiscation of the assets of sanctioned persons. Currently, eight applications are pending in the court – including the appeal instance. 32 decisions have entered into force,” according to the information provided by the ministry.
Decisions on the confiscation of property of sanctioned persons are made at the request of the Ministry with a court decision. It is a wartime regulation and is valid from May 24, 2022 until martial law is lifted.
A motion to confiscate the assets of sanctioned persons is prepared if the person finances aggression against Ukraine, including by paying taxes in Russia. Likewise, if a person contributes to the material and technical provision of Russian aggression against Ukraine or, for example, was involved in the adoption of a decision on armed aggression against Ukraine, the ministry explained.
Similarly, property confiscation is required of sanctioned persons who glorified Russian aggression, participated in holding so-called “referendums” in the occupied parts of Ukraine and other activities.
“In total, according to the decisions of the State Administrative Court, which have entered into force, approximately 160 million hryvnias or 3.78 million euros, 148 real estate objects – plots of land, production premises, houses, apartments, workshops, corporate rights in 41 companies, 308 movable properties have been confiscated – vehicles, ships, aircraft spare parts, equipment, 537 historical and cultural values,” explained the ministry.
The first court decision to confiscate the assets of a sanctioned person for the benefit of Ukraine was made in relation to one of the richest Russian oligarchs, Vladimir Yevtushenkov.
The company he owns in Russia produces military radio electronics, control and communication equipment, as well as military drones. In Ukraine, by a court decision, 17 real estates and ownership rights in 5 companies, which Yevtushenko partially owned, were confiscated from him.
The properties of a number of other oligarchs were confiscated.
“We can point to the variety of confiscated assets – from vehicles, real estate, valuable art objects to corporate rights in companies that are not directly owned by the sanctioned parties, but indirectly. The main biggest cases are the Russian oligarch Oleg Deripaska, the Rotenberg brothers, Mikhail Shelkov, The cases of Yevtushenkov and former President of Ukraine Viktor Yanukovych,” the ministry explained.
The above-mentioned Russian oligarch Oleg Deripaskas has had his shares in the Zaporizhzhya Aluminum Production Combine and two other large production plants confiscated in Ukraine.
On the other hand, the Rotenberg brothers, whose construction company built a bridge to Crimea, had their parts in the Kyiv shopping center “Ocean Plaza” confiscated in Ukraine.
The work on identifying the assets of the sanctioned persons and confiscating their properties continues and it is not easy.
The application filed this spring by the company of Russian oligarch Mikhail Fridman and Latvian citizen Pyotr Aven against Ukraine in the international court for the nationalization of their “Alfa Bank” in Ukraine is also suggestive of this. The oligarchs demand a billion dollars from Ukraine, but Ukrainians believe that the case will fail in court.
Counselor of the Office of the President of Ukraine Mihailo Podolyak
Photo: Indra Sprance / Latvijas Radio
“In today’s democratic world, there are opportunities to defend one’s interests in the judicial system. Accordingly, the Russian Federation uses it very often. Including the representatives of the Russian Federation – Russian oligarchs – use the tools of our democratic states and try to protect their authoritarian needs. Will this claim be successful? Most likely not , because both Friedman and many other oligarchs directly or indirectly participate in the financing of the repressive regime in Russia, which violates many international law norms, rights, etc. Therefore – as a procedure – they have such a right.
From a moral point of view – I understand that it looks disgusting. But democracy is also strong because it gives the opportunity, excuse me, to the last scoundrels to defend their rights,” said Mykhailo Podolyak, advisor to the Office of the President of Ukraine.
In an interview with Latvijas Radio, he also expressed the opinion that the world family of democratic countries should finally agree on the decision to transfer to Ukraine the frozen Russian state assets in Europe and elsewhere in the amount of 300 billion US dollars (281.4 billion euros). Ukraine needs money now more than ever.
“It seems to me that it would be absolutely fair and objective and would not lead to the destruction of the existing rules of the global financial and banking market. Why? The Russian Federation has unequivocally violated international law. To the full extent. It is waging an aggressive, unprovoked war of occupation. That means it violates international law, international humanitarian law and so on. It has to be paid for here and now. Not sometime, but here and now,” he said.
