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Tycoon Abramov’s $100 Million Megayacht Likely Racing to Turkey’s Safe Waters

  • Russian tycoons are moving their yachts to thwart sanctions
  • U.S., allies seizing oligarchs’ boats and other luxury assets
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Biden Targets Yachts and Gains of Russian Oligarchs

The $100 million megayacht Titan tied to steel billionaire Alexander Abramov is racing near top speed to reach the Suez Canal, likely bound for the safe waters of Turkey favored by other sanctioned Russian moguls. 

The Titan, a $100 million yacht that can accommodate 14 guests and 19 crew, is headed toward the Suez Canal after long stays in Dubai and the Maldives, two destinations that are considered safe havens from sanctions and the seizure of Russian assets. Abramov, who is worth about $7.3 billion and co-founded Russia’s second-biggest steelmaker Evraz Plc, is on Australia’s sanctions list.