Russian oligarchs lose British appeal against sanctions on private jets and yachts

Russian oligarchs Yevgeny Shvidler and Sergei Naumenko have lost their appeals against the UK sanctions regime, which intensifies London’s pursuit of Russian assets.

Roman Abramovich’s partner Shvidler failed to lift the freeze on his private jet assets, while real estate developer Naumenko, who is not under sanctions, lost his appeal against the detention of his superyacht Phi, Bloomberg reported.

“I agree that these sanctions are severe and indefinite. For the sanctions to be effective, a serious price must be paid,” Judge Rabinder Singh said in his ruling.

Schwedler tried to prove that Grant Shapps, then Secretary of State for Transport and now Secretary of Defense, pressured the British Foreign Office to impose the restrictions on him.

He claimed that the government had rushed to impose sanctions against him because the department feared that they would have to let his plane out of a private airfield without formal restrictions.

The billionaire, who currently lives in the United States, plans to appeal the judges’ decision to the Supreme Court, according to his lawyers.

The judges criticized Shapps for wrongly accusing Naumenko of “ties to Putin” during the detention of the Phi superyacht, stating that it “should not have been said.”

Earlier, on February 22, the US Department of Justice announced a series of criminal and civil actions against sanctioned Russian oligarchs and others accused of supporting the Kremlin and its military.

Earlier, it was reported that the United States would transfer $500,000 of confiscated Russian assets to Estonia for supporting Ukraine.