This is how Spain has dealt with Russian oligarchs so far

by Lorraine Williamson
Russian Oligarchs

MADRID – In response to the Russian invasion of Ukraine in March last year, the Spanish government implemented the sanctions imposed by the European Union. The resulting actions have deeply affected several influential billionaires linked to the Putin regime. 

Spanish authorities have taken drastic measures against Russian oligarchs associated with President Vladimir Putin’s regime. The Spanish government has, among other things, seized the assets of several influential billionaires. 

Also see: Spain blocks three Russian oligarchs’ superyachts in Mallorca and Barcelona 

According to official data collected by the Spanish radio station SER, 10 planes, 5 yachts, 357 homes, 22 luxury cars, and 65 funds, including bank accounts and shares, have already been frozen. The value of the seized yachts alone is estimated at more than €900 million. 

Cogesa Expats

Prominent oligarchs affected 

Those affected include prominent figures such as Serguéi Chémezov. A veteran of the KGB, Chémezov is also the owner of Rostec, one of Russia’s largest arms manufacturers. His yacht, the Valerie, worth €140 million, is one of the vessels seized. Also seized in Mallorca’s Marina Port Adriano was the Lady Anastasia, a 45-metre-long, $7 million ship linked to the oligarch Alexander Mijeev, owner of Rosoboronexport, one of Russia’s most powerful arms factories. 

Diplomats expelled from Spain 

In addition to the property seizure, Spain had also expelled 27 Russian diplomats by 2022, a coordinated move with the EU that has affected Russia’s ability to operate in Europe. 

Ukrainian refugees 

Spain has also taken steps to ensure the reception of displaced persons from Ukraine. Until April 17, there were 174,005 Ukrainian citizens who have received temporary protection in Spain. Measures have also been taken to improve the situation of Ukrainians in employment, education and health care. Until March 31, 2023, 15,745 people were registered in the labour file and 39,399 displaced Ukrainian students were enrolled in education. In addition, 79,705 people from Ukraine have gained access to the national health system. 

Also see: Spain officially seizes mega yachts from Russian oligarchs 

Baycrest Wealth

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