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Yachts, houses and bank accounts: France draws up list of Russian oligarchs’ property for seizure

France is drawing up a list of property owned by Russian oligarchs including luxury cars and yachts that can be seized under EU sanctions imposed following Russia's invasion of Ukraine.

Yachts, houses and bank accounts: France draws up list of Russian oligarchs' property for seizure
The French Riviera has long been a favoured playground for Russian oligarchs. Photo by Alberto PIZZOLI / AFP

The French Riviera has long been a playground for ultra-wealthy Russians, with many spending their summers on yachts or in their luxury villas on the Mediterranean coast.

“At the request of the president, we are continuing a full survey of the financial assets, real estate, yachts and luxury vehicles (in France) which belong to Russian personalities targeted by European sanctions,” Economy Minister Bruno Le Maire said Monday.

He added that France was also working on identifying the property of other Russians who might hit by further rounds of sanctions “because of their proximity with the Russian government.”

Foreign Minister Jean-Yves Le Drian, speaking beside Le Maire after a Monday morning meeting of France’s Defence Council, said measures would be taken “in a very short space of time” against “Russian propaganda organs” which were responsible for “disinformation” in Europe.

EU chief Ursula von der Leyen announced on Sunday that the European Union would ban Russian state media Russia Today – known as RT – and Sputnik. RT has a substantial operation in France, employing more than 100 people. 

French President Emmanuel Macron spearheaded diplomatic efforts to prevent a war in Ukraine and held more than six hours of talks with Russian leader Vladimir Putin in Moscow on February 7th.

After Putin informed him of his decision to officially recognise two Russian-backed separatist provinces in eastern Ukraine last week, a prelude to his invasion, Macron warned him of the reaction, the Journal du Dimanche newspaper reported on Sunday.

“You know there will be very severe consequences,” the French president reportedly said. “You shouldn’t underestimate them.”

READ ALSO Visas, flight bans and property seizure: How the EU’s sanctions will affect France

Member comments

  1. When a country starts seizing property because it might have been bought with so-called “dirty money” or they take issue with the person that bought it, that country has taken a very slippery path.

  2. Sanctions like this is a form of economic warfare I hope the EU knows what is doing by taking such aggressive actions, Putin’s Russia is a tough Nation and actions like these might only escalate tensions. Diplomacy the ultimate way of resolving this crisis.

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STRIKES

French unions announce new strike dates in battle against pension reform

After a second day in which more than a million people took to the streets of France to protest over planned pension reform, unions have announced further strike days.

French unions announce new strike dates in battle against pension reform

France’s eight main trades unions federations made a joint announcement on Tuesday night of fresh strike days – Tuesday, February 7th and Saturday, February 11th. 

Tuesday marks the day that the highly controversial pension reform – which includes raising the pension age from 62 to 64 – is presented to the French parliament for the first time.

Both days are likely to see significant disruption, particularly on public transport.

The mass strike on Tuesday saw trains and city public transport services heavily disrupted, while many schools closed as teachers walked out.

Demos held in towns and cities across France saw a huge turnout – more than 1.1 million people, an increase on the turnout on the first day of pension strikes.

READ ALSO ‘We won’t stop until Macron is defeated’ say French pension demonstrators

You can find all the latest news on strikes and service disruptions in our strike section HERE.

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