Judge Approves Seizure Of Jets Belonging To Billionaire Russian Oligarch Abramovich

Topline

A federal judge signed off on the FBI’s request to seize two jets belonging to Russian billionaire oligarch Roman Abramovich on Monday, several outlets reported, the most significant punishment against Abramovich by the U.S. since Russia invaded Ukraine in February.

Key Facts

A judge in the Southern District of New York authorized an FBI request for a warrant to take away a Boeing 787-8 Dreamliner and Gulfstream G50ER jet, according to a court filing obtained by Axios reporter Zach Basu.

Worth $8.8 billion according to Forbes’ calculations, Abramovich made much of his fortune thanks to favorable business deals with the Russian government, and has been sanctioned by the European Union, United Kingdom and several other countries following Russia’s invasion.

The seizure would be on the grounds of export control violations, as the U.S. hasn’t personally sanctioned Abramovich.

Both planes are currently abroad—one in Russia and one in the United Arab Emirates—according to the affidavit, meaning any seizure will be extremely difficult.

The affidavit says the Boeing jet is worth an estimated $350 million, making it one of the most expensive private planes in the world, while Abramovich purchased the Gulfstream for $60 million in 2020.

Forbes has reached out to a representative for Abramovich for comment.

Key Background

The 55-year-old Abramovich was present at several rounds of early and unfruitful peace negotiations between Russian and Ukrainian as a mediator. Sources close to Abramovich told Forbes and the Wall Street Journal that the billionaire was poisoned while attending a March 3 round of negotiations in Kyiv. Plans to sanction Abramovich were scrapped after Ukrainian President Volodymr Zelensky asked President Joe Biden to wait on penalizing Abramovich due to his role in the negotiations, the Journal reported.

Tangent

Abramovich bought Chelsea FC of the English Premier League in 2003, but was forced to sell the team this spring after he was sanctioned by the British government. An American-led consortium of investors led by Todd Boehly bought Chelsea last month for a record $5.2 billion. Abramovich received no proceeds from the sale.

Further Reading

DOJ moves to seize 2 planes from Russian oligarch Roman Abramovich (CNBC)

Source Close To Roman Abramovich Confirms He Was Poisoned While Helping Negotiate In Ukraine (Forbes)