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US seeks to seize 2 luxury jets linked to Russian oligarch

The Arabnews reported, citing the Associated Press, the US authorities moved Monday (June 6) to seize two luxury jets — a $60 million Gulfstream and a $350 million aircraft believed to be one of the world’s most expensive private airplanes — after linking both to Russian oligarch Roman Abramovich.
A federal magistrate judge signed a warrant authorizing the seizure of the Gulfstream and a Boeing jet that authorities said was worth less than $100 million before a lavish customization.
The action takes place just days after the United States announced new sanctions and penalties on Russian oligarchs and elites, Kremlin officials, businessmen linked to President Vladimir Putin and their yachts, aircraft and firms that manage them.
President Joe Biden promised after Russia’s February invasion of Ukraine to pursue Russian elites’ “ill-gotten gains.”

A representative for Abramovich did not immediately return a message seeking comment.
US Attorney Damian Williams said in a release Monday that his office was using every legal tool available to respond to “Russian’s illegal war in Ukraine.”
He said: “Our international partners — nations devoted to the rule of law — far outnumber those jurisdictions where these aircraft can safely hide, and our investigation of illegal exports in violation of US law will continue unabated."
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Matthew S. Axelrod, assistant secretary of commerce for export enforcement, said the Commerce Department had made recent changes to keep its enforcement actions public regarding unprecedented export controls stemming from the invasion of Ukraine.
He said the action “provides notice to the world of our commitment to enforce those controls aggressively in a transparent way.”
Andrew Adams, a prosecutor who heads the unit pursuing the assets of Russian oligarchs, said the public nature of Monday’s action is meant to remind “members of the aviation, insurance, and financial industries that these aircraft constitute tainted property under active investigation by the United States.”
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Justice Department officials say they have received strong support from companies and organizations and from countries that in the past had been viewed as safe havens for parking illegal assets.
Abramovich, who recently sold his stake in Chelsea, a Premier League football club in London, is among the wealthier Russians whose assets are being watched for sanctions violations after the Ukraine invasion.
In explaining the move to seize the planes, an FBI agent wrote in an affidavit that the Boeing 787-8 Dreamliner aircraft and the Gulfstream G650ER plane are subject to seizure because they have been moved between March 4 and March 15 without licenses being obtained in violation of sanctions placed against Russia.
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According to the affidavit, Abramovich controlled the Gulfstream through a series of shell companies. The plane, it said, is believed to have been in Moscow since March 15.
The affidavit said, the Boeing, meanwhile, is believed to be in Dubai, United Arab Emirates, following a roundtrip March 4 flight from Dubai to Moscow.
Source: arabnews
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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