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6/2/2022
U.S. Treasury Severs More Networks Providing Support for Putin and Russia’s Elites | U.S. Department of the Treasury
U.S. Treasury Severs More Networks Providing Support for Putin
and Russia’s Elites
June 2, 2022
Targeting key nodes of Russian attempts to evade unprecedented U.S. sanctions
Kremlin elites, luxury assets, and Putinʼs favored yachts blocked
WASHINGTON – Today, the U.S. Department of the Treasuryʼs O ice of Foreign Assets Control
(OFAC) is taking further action to degrade the key networks used by Russiaʼs elites, including
President Vladimir Putin, to attempt to hide and move money and anonymously make use of
luxury assets around the globe. Todayʼs action targets a Kremlin-aligned yacht brokerage,
several prominent Russian government o icials, and a close Putin associate and moneymanager, Sergei Roldugin, who is a custodian of President Putinʼs o shore wealth. In order to
further tighten and enforce existing sanctions, this action further identifies yachts and aircra
in which sanctioned Russian elites maintain interests.
“Russiaʼs elites, up to and including President Putin, rely on complex support networks to hide,
move, and maintain their wealth and luxury assets,” said Under Secretary of the Treasury for
Terrorism and Financial Intelligence Brian Nelson. “Todayʼs action demonstrates that Treasury
can and will go a er those responsible for shielding and maintaining these ill-gotten interests.
We will continue to enforce our sanctions and expose the corrupt systems by which President
Putin and his elites enrich themselves.”
Todayʼs actions were taken pursuant to Executive Orders (E.O.) 14024, E.O. 13685, and E.O.
13661, and further align the United States with its international partners and allies. Todayʼs
designations were taken in tandem with the U.S. Department of State and the U.S.
Department of Commerce. The U.S. Department of State imposed sanctions on five of
Russiaʼs oligarchs and elites, including Maria Zakharova, the spokesperson of the Russian
Ministry of Foreign A airs; Alexey Mordashov, the leader of Severgroup and one of Russiaʼs
wealthiest billionaires; and family members and entities associated with the oligarchs and
elites. The U.S. Department of Commerce is adding 71 additional parties located in Russia and
Belarus to the Entity List, further restricting the Russian militaryʼs ability to obtain
technologies and other items it needs to sustain aggression and project power.
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PUT IN-LINKED YACHTS
Today, OFAC is identifying Russia-flagged Graceful and Cayman Islands-flagged Olympia, as
blocked property in which President Vladimir Putin has an interest. On February 25, 2022, OFAC
designated Vladimir Putin pursuant to E.O. 14024 for being or having been a leader, o icial,
senior executive o icer, or member of the board of directors of the Government of the
Russian Federation (GoR). While the leader of Russia, Putin has taken numerous trips on these
yachts, including a 2021 trip in the Black Sea where he was joined by Alyaksandr Lukashenka,
the OFAC-designated corrupt ruler of Belarus, who has supported Russiaʼs war against
Ukraine.
Olympia (Photo credit: Feadship)
OFAC also designated the following entities and an individual who were registered owners of
or involved in the management of either Graceful or Olympia. OFAC designated Russian
Federation state-owned, Cyprus-registered SCF Management Services Cyprus Ltd pursuant
to E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or
on behalf of, directly or indirectly, the GoR. OFAC designated Ironstone Marine Investments,
JSC Argument, and OʼNeill Assets Corporation pursuant to E.O. 14024 for having materially
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assisted, sponsored, or provided financial, material, or technological support for, or goods or
services to or in support of, Vladimir Putin. OFAC additionally designated JSC Argumentʼs sole
shareholder and former director, Andrei Valeryevich Gasilov, pursuant to E.O. 14024 for
being or having been a leader, o icial, senior executive o icer, or member of the board of
directors of JSC Argument.
OFAC also targeted two additional yachts linked to Putin, Shellest and Nega, which are
owned by the Russian company Non-Profit Partnership Revival of Maritime Traditions
(Revival of Maritime Traditions) and its Russian subsidiary Limited Liability Company Gelios
(LLC Gelios), respectively. OFAC designated Revival of Maritime Traditions pursuant to E.O.
14024 for operating or having operated in the marine sector of the Russian Federation
economy. OFAC designated LLC Gelios pursuant to E.O. 14024 for being owned or controlled
by, or for having acted or purported to act for or on behalf of, directly or indirectly, Revival of
Maritime Traditions. OFAC identified Shellest as blocked property in which Revival of Maritime
Traditions has an interest and identified Nega as blocked property in which LLC Gelios has an
interest. Shellest periodically travels to the coast where President Putinʼs infamous Black Sea
Palace is located, and President Putin uses Nega for travel in Russiaʼs North.
Shellest (Credit: Romeo United Yachts)
KREMLIN-ALIGNED YACHT B ROKERAGE
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Imperial Yachts SARL (Imperial Yachts) is a yacht brokerage that o ers a variety of services
relating to superyachts, including their design, order, charter, and management. In addition to
their head o ice in Monaco, Imperial Yachts maintains an o ice in Russiaʼs capital and provides
yacht-related services to Russiaʼs elites, including those in President Putinʼs inner circle. When
not in use by their owners, superyachts can be o ered for charter through businesses such as
Imperial Yachts, generating income for the owners, who are in some cases Russiaʼs oligarchs.
Imperial Yachts conducts business with U.S.-designated oligarchs, including through providing
management services to at least one yacht linked to an OFAC-designated individual.
OFAC designated Monaco-based Imperial Yachts and its Russian CEO, Evgeniy Borisovich
Kochman (Kochman), pursuant to E.O. 14024 for operating or having operated in the marine
sector of the Russian Federation economy. OFAC also designated Imperial Yachts pursuant to
E.O. 14024 for being owned or controlled by, or for having acted or purported to act for or on
behalf of, directly or indirectly, Kochman.
Additionally, OFAC identified the largest yacht currently available for charter through Imperial
Yachts, Flying Fox, as blocked property in which Imperial Yachts has an interest.
Flying Fox (credit: Tom Drust)
The entities OOO Nord Marine, OOO Yakht-Treid, OOO Bilding Management, and OOO Nord
Marin Inzhiniring were designated pursuant to E.O. 14024 for being owned or controlled by,
or for having acted or purported to act for or on behalf of, directly or indirectly, Kochman.
PUT INʼS MIDDLE-MAN
Sergei Pavlovich Roldugin (Roldugin) is a close friend and part of a system that manages
President Putinʼs o shore wealth. The two have known each other for over four decades, and
Roldugin is the godfather to one of Putinʼs daughters. Roldugin is a cellist, conductor, and the
artistic director of the St. Petersburg Music House, a state-owned cultural institution in
Russia. Elena Yuryevna Mirtova (Mirtova), Rolduginʼs wife, is a soprano opera singer and
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actress who has performed alongside her husband. Roldugin was previously designated by the
European Union, United Kingdom, Australia, and New Zealand.
Roldugin was designated today pursuant to E.O. 14024 for being or having been a leader,
o icial, senior executive o icer, or member of the board of directors of the GoR. Mirtova was
designated pursuant to E.O. 14024 for being a spouse or adult child of Roldugin.
ADDIT IONAL YACHTS AND AIRCRAF T
OFAC designated San Marino-based SRL Skyline Aviation (Skyline) pursuant to E.O. 13685 for
operating in the Crimea region of Ukraine and identified aircra T7-OKY as property in which
Skyline has an interest. As part of a scheme involving jets owned by VTB Bank and controlled
by the chief of sta of VTB Bankʼs CEO, Andrei Kostin (Kostin), the jets were transferred to an
anonymous o shore company. Kostinʼs chief of sta still manages these jets, which Skyline
operated. OFAC designated VTB Bank pursuant to E.O. 14024 for being owned or controlled
by, or for having acted or purported to act for or on behalf of, directly or indirectly, the GoR,
and for operating or having operated in the financial services sector of the Russian Federation
economy. OFAC designated Kostin in 2018 pursuant to E.O. 13661 for being an o icial of the
GoR.
As part of todayʼs action, OFAC also identified a yacht named Sea Rhapsody as property in
which Kostin has an interest. Priced at $65 million, Kostinʼs yacht Sea Rhapsody is flagged in
the Marshall Islands and has an International Maritime Organization (IMO) number of 1010648.
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T7-OKY ("T7-OKY@ZRH;21.01.2020" by https://www.flickr.com/photos/46423105@N03 is
licensed under CC BY-NC-SA 2.0.)
OFAC identified Cayman Islands-flagged yacht, Madame Gu, helicopter 3A-MGU housed on
the yacht, and private plane P4-MGU as blocked property in which twice-designated Russian
Federation Duma member and billionaire Andrei Vladimirovich Skoch (Skoch) has an interest.
The 324-foot Madame Gu (IMO 1011331), 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. OFAC designated Skoch in 2022 pursuant to E.O. 14024 for being
or having been a leader, o icial, senior executive o icer, or member of the board of directors
of the GoR and in 2018 pursuant to E.O. 13661 for being an o icial of the GoR.
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3A-MGU taking o from the deck of Madame Gu (Dutch Yachting via Youtube)
P4-MGU ("Global Jet Luxembourg, P4-MGU, Airbus A319-115 CJ" by Anna Zvereva is licensed
under CC BY-SA 2.0.)
TOP RUSSIAN GOVERNMENT OF F ICIALS
Yury Slyusar (Slyusar) is the President of United Aircra Corporation (UAC), a Russian stateowned company and major supplier of aircra to Russiaʼs military, and one of the leading
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actors in Russiaʼs industry and defense sector with close ties to the GoR. UAC has supplied
aircra that have been used by Russiaʼs military to threaten and destabilize Ukraine. UAC is 88
percent owned by Rostec, a Russian stated-owned defense company subject to the debtrelated prohibitions of Directive 3 under E.O. 13662.
Slyusar was designated today pursuant to E.O. 14024 for having been a leader, o icial, senior
executive o icer, or member of the board of directors of the GoR and for operating or having
operated in the aerospace sector of the Russian Federation economy. Slyusar has previously
been designated by the European Union, Australia, Canada, New Zealand, and the United
Kingdom.
Vitaly Savelyev (Savelyev) is the Minister of Transport of the Russian Federation and a
member of the Board of Directors of Russian Railways; he also serves as the Chairman of the
Board of Directors of Aeroflot. Savelyev was designated today pursuant to E.O. 14024 for
being or having been a leader, o icial, senior executive o icer, or member of the board of
directors of the GoR. Savelyev has previously been designated by the European Union and the
United Kingdom.
Maxim Reshetnikov (Reshetnikov) is the Minister of Economic Development of the Russian
Federation. Reshetnikov serves on the board of sanctioned Russian entities, including VTB
Bank, VEB.RF, and Russian Railways. Reshetnikov was designated today pursuant to E.O.
14024 for being or having been a leader, o icial, senior executive o icer, or member of the
board of directors of the GoR. Reshetnikov has previously been designated by the European
Union, Australia, Canada, New Zealand and the United Kingdom.
Irek Envarovich Faizullin (Faizullin) is the Minister of Construction, Housing and Utilities of
Russia and is a member of the board of directors of Russian Railways. Faizullin was
designated today pursuant to E.O 14024 for being or having been a leader, o icial, senior
executive o icer, or member of the board of directors of the GoR. Faizullin has previously been
designated by the European Union and the United Kingdom.
Dmitriy Yuryevich Grigorenko (Grigorenko) is the Deputy Prime Minister and Chief of the
Government Sta of Russia. Grigorenko was designated today pursuant to E.O. 14024 for
being or having been a leader, o icial, senior executive o icer, or member of the board of
directors of the GoR. Grigorenko has previously been designated by the European Union,
Australia, Canada, New Zealand and the United Kingdom.
SANCT IONS IMPLICAT IONS
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As a result of todayʼs 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. In addition, any entities that are owned, directly or indirectly,
50 percent or more by one or more blocked persons are also blocked. All transactions by U.S.
persons or within (or transiting) the United States that involve any property or interests in
property of designated or otherwise blocked persons are prohibited, unless authorized by a
general or specific license issued by OFAC, or exempt. These prohibitions include the making of
any contribution or provision of funds, goods, or services by, to, or for the benefit of any
blocked person and the receipt of any contribution or provision of funds, goods, or services
from any such person.
For identifying information on the individuals and entities sanctioned today, click here.
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