Overturned yacht (stock image)
Overturned yacht (stock image)iStock

The U.S. Treasury on Thursday announced additional sanctions on Russian citizens, yachts and jets, targeting President Vladimir Putin’s inner circle, Fox News reported.

The measures were put in place to "degrade the key networks used by Russia's elites, including President Vladimir Putin, to attempt to hide and move money and anonymously make use of luxury assets around the globe."

According to the Treasury’s Officer of Foreign Assets Control, the sanctions include "a Kremlin-aligned yacht brokerage, several prominent Russian government officials, and a close Putin associate and money manager, Sergei Roldugin, who is a custodian of President Putin's offshore wealth."

"Russia’s elites, up to and including President Putin, rely on complex support networks to hide, move, and maintain their wealth and luxury assets," Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said in a statement.

"Today’s action demonstrates that Treasury can and will go after those responsible for shielding and maintaining these ill-gotten interests."

The Treasury said that the sanctions target Russian owned luxury yachts, including the "Russia-flagged Graceful and Cayman Islands-flagged Olympia." The ships are "blocked property in which President Vladimir Putin has an interest" which the Russian leader has used for many past trips.

The sanctions will also go after Russian Ministry of Foreign Affairs spokesperson Maria Zakharova and oligarch Andrei Vladimirovich Skoch, by targeting a Cayman Islands registered yacht, Madame Gu and its helicopter, of which he has an ownership stake.

"The 324-foot Madame Gu, which is valued at $156 million, includes an elevator, beach club, gym, and requires significant maintenance and repair, including approximately $1 million for painting annually," it added.

"When not in use by their owners, superyachts can be offered for charter through businesses such as Imperial Yachts, generating income for the owners, who are in some cases Russia’s oligarchs," the Treasury said.

"As a result of today’s action, all property and interests in property of the designated persons above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC,” it added.

The move by the Treasury came only days after it was reported that Western nations were in talks about whether to allow Russian oligarchs to purchase their way out of sanctions, with the resulting money used to rebuild Ukraine, sources close to the discussions said.