German authorities seize superyacht belonging to sister of Russian oligarch

German authorities say they have seized a massive superyacht in Hamburg after determining that it belongs to the sister of Russian oligarch Alisher Usmanov.The Federal Criminal Police Office said Wednesday that, after extensive investigations and despite offshore concealment, it had been able to determine that the owner is Gulbakhor Ismailova, Usmanovs sister.Superyacht Dilbar is flagged in the Cayman Islands and registered to a holding company in Malta, two banking havens where the global ultra-rich often park their wealth.

German authorities say they have seized a massive superyacht in Hamburg after determining that it belongs to the sister of Russian oligarch Alisher Usmanov.

The Federal Criminal Police Office said Wednesday that, after "extensive investigations" and despite "offshore concealment," it had been able to determine that the owner is Gulbakhor Ismailova, Usmanov's sister.

Superyacht Dilbar is flagged in the Cayman Islands and registered to a holding company in Malta, two banking havens where the global ultra-rich often park their wealth. It was launched in 2016 at a reported cost of more than $648 million.

The German police office said German authorities worked in Brussels to ensure that European Union sanctions applied to the owner. It says the yacht can no longer be sold, rented, or loaded.

The United States and EU last month announced economic sanctions against Usmanov, a metals magnate, over his ties to Russian President Vladimir Putin and in retaliation for the invasion of Ukraine.