A nearly $600 million luxury yacht, which is owned by Russian billionaire Alisher Usmanov, has been seized by German authorities.
Usmanov has faced European Union sanctions over Russia’s invasion of Ukraine, said a Forbes report, citing sources in the yacht industry.
Dilbar, which is 512-foot yacht, was taken to the northern port of Hamburg, the report said.
The yacht was undergoing a refit in shipyards of Blohm + Voss, it said.
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The German government has frozen the asset and employees working on the vessel did not appear for work on Wednesday.
As per a decision published on the official journal, EU has imposed sanctions on the Russian tycoon and metals magnate and 25 other prominent people for the invasion in Ukraine.
Around five superyachts, which are owned by Russian billionaires, have been anchored or could be seen cruising on Wednesday in Maldives.
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The island nation in Indian Ocean does not have an extradition treaty with the United States, ship tracking data showed.
To put Russia on back foot, several countries have also imposed crippling sanctions on the financial sector of the country. It includes a block on its access to the global financial system, SWIFT.
(With inputs from agencies)
