Only 6% of Russian oligarchs' yachts sailed across the Mediterranean after EU sanctions, the CEO of a ship-tracking data company says

The superyacht "Lena" belonging to Gennady Timchenko was seized in the port of San Remo, Italy.

ANDREA BERNARDI/AFP via Getty Images.

• Russian oligarchs' yachts crossing the Med fell from 19% in March-April in 2019 and 2020 to 6% this year, per data.
• Spire CEO John Lusk told Insider the yachts have avoided the Mediterranean after EU sanctions.
• Some of the yachts headed to the "safe haven" of Turkey will be limited to the Black Sea, he said.

The number of Russian oligarchs' superyachts crossing the Mediterranean after EU sanctions has dropped to 6%, according to a data analytics firm.

John Lusk, CEO of Spire, told Insider in an interview that his company's satellite data found that activity of Russian oligarchs' yachts in the Mediterranean Sea fell from 19% in March to April in 2019 and 2020 to 6% in the same period this year, when the West started imposing sanctions over the Ukraine war.

"Historically, we've seen a large percentage of these yachts playing in the Mediterranean Sea," Lusk said, adding that there's been a "really sharp decline" this year in this trend.

"Roughly a fifth of them were going into the Mediterranean Sea doing whatever they do — playing, partying, whatever happens on a superyacht," Lusk said.

The majority of yachts owned by Russian oligarchs have avoided heading to countries in the Mediterranean, including Italy, France, and Spain, as the European Union has cracked down on sanctions and tried to make it easier to seize luxury assets, Lusk said.

Since Russia invaded Ukraine on February 24, many Russian oligarchs' vessels have sailed to destinations such as Montenegro, Turkey, Dubai, and places in the Indian Ocean, according to data by Spire.

"They're avoiding the Mediterranean or they're briefly going right through it," Lusk said, referring to Spire's data. He said some yachts have traveled through the Suez Canal and headed for Turkey, which has proved to be a popular location for oligarchs' yachts because it's considered a "safe haven."

At least five luxury yachts owned by Russian oligarchs, including two belonging to Roman Abramovich, have docked in Turkish waters since the war began, Insider previously reported. Mooring in Turkey means the yachts are at less risk of being seized given that the Turkish government has previously criticized Western sanctions against Russia.

"Once they start going to Turkey, they're going to be limited to the Black Sea," Lusk said. "But there's just not a lot of options in the Black Sea to go and have fun."

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