Russian oligarch Viktor Vekselberg's yacht seized in joint U.S.-Spain operation

The U.S. government seized on Monday in Spain the luxury yacht owned by Russian oligarch Viktor Vekselberg, who has close ties to Russian President Vladimir Putin.

U.S. federal agents and the Spanish Civil Guard entered the Royal Marina in the port of Palma de Mallorca, capital of Spain's Balearic Islands, in the Mediterranean Sea, the Associated Press (AP) reported.

A spokesman for the Guardia Civil confirmed that Spanish agents and the FBI were searching the ship. However, he added that details would be released later.

The yacht “Tango” is 254 feet long and has a Cook Islands flag. Superyatchfan.com, a specialized website that tracks the world's largest and most exclusive recreational boats, estimates its value at $120 million.

Vekserlberg heads the Renova Group, a Moscow-based conglomerate with interests in metals, mining, technology, and other sectors, according to U.S. Treasury Department documents. All of Vekselberg's U.S. assets were frozen and no U.S. company is allowed to do business with him.

This would be the first time the U.S. government has seized the yacht of a Russian oligarch since Attorney General Merrick Garland and Treasury Secretary Janet Yellen formed REPO, a task force to implement sanctions after Russia invaded Ukraine.

Vekselberg has long-standing ties to the United States, where he obtained permanent residence permits and has homes in New York and Connecticut, AP continues. The Ukrainian-born billionaire built his fortune in the aluminum and oil sectors after the fall of the Soviet Union.

The seizure of the yachts comes as a response to the sanctions of different governments and the initiative to "seize and freeze" giant ships and other expensive assets of Russian elites, as a consequence of the invasion of Ukraine.

In mid-March, Italian authorities confiscated the world's largest sailing yacht, owned by Russian tycoon Andrey Melnichenko, docked in the port of the city of Trieste.

Melnichenko, the founder of MDB bank and investor in the petrochemical sector, is on the European Union's (EU) list of oligarchs to be sanctioned for the Russian invasion that began last February 24.

Melnichenk's vessel was christened "SYA" (Sea Yacht Aleksandra), in honor of his wife, model Aleksandra Kokotovic.