
A French court on Wednesday ordered the country’s customs department to release an arrested yacht belonging to a Russian billionaire who fell under European sanctions due to procedural errors during the seizure of the vessel, Reuters writes.
Customs officials seized the 27-meter yacht “La Petite Ourse” on March 16 after its owner Oleksiy Kuzmichev, one of the main shareholders of Russia’s Alfa Bank, came under EU sanctions in March for his ties to President Vladimir Putin.
A Paris appeals court ruled that customs officials did not follow proper procedures when they boarded the vessel, which was anchored in the city of Antibes on the French Riviera.
The agents cited a fraud investigation when they notified authorities at the shipyard, which under French law allows customs to search the vessel.
The ruling highlights the challenges that European countries face when freezing the assets of Russian oligarchs.
Kuzmichev sued the French authorities in an attempt to regain access to two of his French-owned yachts, La Petite Ourse and La Petite Ourse II.
As a sanctioned person whose assets are frozen, Kuzmichev is still prohibited from taking La Petite Ourse out of French territorial waters, but is now allowed access to and use of the yacht in French waters, his lawyer said.
“Within [Franței]he is allowed to move around, whether on foot, horse, car or boat,” said lawyer Philippe Blanchetier.
The court also ordered French customs officials to pay the tycoon 10,000 euros in compensation.
The court in Rouen will rule on the second ship, La Petite Ourse II, docked in Cannes later.
- Putin’s superyacht was spotted off the coast of Estonia. Renamed “Orca”
Source: Hot News RO

Robert is an experienced journalist who has been covering the automobile industry for over a decade. He has a deep understanding of the latest technologies and trends in the industry and is known for his thorough and in-depth reporting.