The U.S. Justice Department under President Donald Trump is disbanding an effort started after Russia's 2022 invasion of Ukraine to enforce sanctions and target oligarchs close to the Kremlin. Among assets seized was the super-yacht, Tango, moored in Palma and owned by Russian oligarch Viktor Vekselberg.
The yacht was sized by U.S. Federal agents and Spanish police officers two years ago and remains moored in Palma. Up to 14 guests can be accommodated on board the superyacht, and she also has accommodation for 22 crew members, including the ship's captain. Tango has a steel hull and an aluminium superstructure. She is powered by 4 MTU engines, which give her a top speed of 21 knots. In the world rankings for largest yachts, the superyacht, Tango, is listed at number 216.
A memo from Attorney General Pam Bondi, issued on Wednesday during a wave of orders on her first day in office but not previously reported, said the effort, known as Task Force KleptoCapture, will end as part of a shift in focus and funding to combating drug cartels and international gangs.
"This policy requires a fundamental change in mindset and approach," Bondi wrote in the directive, adding that resources now devoted to enforcing sanctions and seizing the assets of oligarchs will be redirected to countering cartels. The effort, launched during Democratic President Joe Biden's administration, was designed to strain the finances of wealthy associates of Russian President Vladimir Putin and punish those facilitating sanctions and export control violations.
It was part of a broader push to freeze Russia out of global markets and enforce wide-ranging sanctions imposed on Moscow amid international condemnation of its war in Ukraine.
The task force brought indictments against aluminum magnate Oleg Deripaska and TV tycoon Konstantin Malofeyev for alleged sanctions busting, and seized yachts belonging to sanctioned oligarchs Suleiman Kerimov and Viktor Vekselberg.
Cases investigated by the task force are likely to continue, but the work will no longer be centralized at Justice Department headquarters. "Are we going to suddenly see a surge of sanctioned oligarch wealth flood into the United States? I don’t think so," said Andrew Adams, the first leader of the task force who is now at law firm Steptoe. "What you will see is a sharp decline in the pace of charges that target facilitators that are specific to Russia."
Prosecutors assigned to the task force will return to their previous posts. The changes will be in effect for at least 90 days and could be renewed or made permanent, according to the directive. Trump has spoken about improving relations with Moscow. He has previously vowed to end the war in Ukraine, though he has not released a detailed plan.
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