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‘Putin-Linked’ Yachts, Russian Billionaires Are Hit With New US Sanctions

  • Treasury cites networks to ‘hide, move and maintain’ wealth
  • Billionaire Alexey Mordashov is sanctioned by State Department
The yacht 'Graceful' mooored at the port of Sochi, Russia, in 2015.

The yacht 'Graceful' mooored at the port of Sochi, Russia, in 2015.

Photographer: Marcus Brandt/dpa/AP Photo
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The US Treasury Department announced a new round of sanctions targeting what it said were yachts linked to President Vladimir Putin as well as allies of the Russian leader, in the latest set of penalties over the war in Ukraine. 

Billionaire Alexey Mordashov, the majority owner of Severstal PJSC, Russia’s fourth-biggest steelmaker, was also hit with State Department sanctions, Treasury said.