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France Seizes M/Y Amore Vero Under EU Sanctions

4 March 2022By Staff Report
M/Y Amore Vero under previous name St Princess Olga
M/Y Amore Vero was launched and delivered in 2013 under the name St. Princess Olga.
Credit: Raphael Montigneaux

French authorities seized 86-meter M/Y Amore Vero after it was determined her owner fell under the European Union sanctions on Russian oligarchs. The French Ministry of Economy and Finance issued a statement on the seizure, claiming that Amore Vero belongs to a company whose main shareholder is Igor Sechin, a close ally of Vladimir Putin. Sechin is among the list of individuals sanctioned by the EU regulation 2022/336 on February 28.

The yacht was seized as it was trying to leave the port of La Ciotat on March 2, the French Ministry of Economy and Finance states. They report that the 86-meter yacht arrived in port on January 3 and planned to stay there until April 1 for repairs.

During a customs check, officers noticed the vessel was “taking steps to sail off urgently, without having completed the planned work,” the statement says. This attempt to leave French territorial waters was considered an offense against article 459 of the customs code, which is aimed at any person contravening “the measures restricting economic relations and financial resources provided for by community regulations.” This led to the officers deciding to seize the yacht after several hours on board.

“This yacht fell within the scope of the freezing measures decided against its owner,” the statement says. “Effective immediately, these measures required the immobilization of the vessel.”

French authorities have also seized cargo ships under the new Russian sanctions, Reuters reports.

Amore Vero was launched and delivered in 2013 under the name St. Princess Olga.

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