It was reported by international news agencies that a luxury yacht “belonging to a US-sanctioned Russian billionaire reached” the Maldives on Tuesday, 01st March 2022.
Meanwhile, it was reported by both international and local news outlets that more Russian-owned boats were heading to the island nation seeking a safe haven from possible asset seizures.
Reports also attest that multiple international sanctions have been imposed on Russia in the wake of its invasion of neighboring Ukraine. The situation has raised the stakes for businessmen allied with Russian President Vladimir Putin, who are currently facing international scrutiny and possible blockades on their businesses.
Meanwhile, the Maldives Ports Limited confirmed that the pleasure craft Clio, holding the International Maritime Organization (IMO) registration 9312535 anchored near the island nation’s capital Male’ City sometime on Monday.
According to Barron’s, the Cayman Islands-registered luxury yacht belongs to aluminum tycoon Oleg Deripaska, a US-sanctioned businessman.
On the other hand, CNBC reports that two other vessels owned by Russian oligarchs were heading to the Maldives, which has no extradition treaty with the United States.
Furthermore, Maldives Ports Limited further confirmed to AFP that the superyacht “Titan”, holding IMO number 1010478 owned by Russian steel magnate Alexander Abramov was anchored in Male’.
So far, the Maldives Ministry of Foreign Affairs has not provided any comment on Russian-owned yachts seeking ‘sanctuary’ in the island nation, while the government Spokesperson Mabrook Azeez was not available for an immediate comment on the matter.
However, a Maldivian official speaking with the AFP told the news agency about the popularity of the island nation as a holiday destination between both Russia and Ukraine.
“The Russian invasion of Ukraine is going to hit us badly because both countries are very important for our tourism,” the official told AFP via a phone conversation.
Russia remains as the strongest source market to the Maldives with 39,660 tourist arrivals from the country so far, which is a market share of 15.8% while Ukraine is ranked eighth with 7,818 arrivals so far in 2022.