‘We’re coming for you’: Biden says US will seize Russian oligarchs’ ‘yachts, apartments, private jets’

Joe Biden has announced the formation of a special US task force to seize “yachts, luxury apartments and private jets” from Russian billionaires.

Joe Biden says the US will form a special task force to seize “yachts, luxury apartments and private jets” from Russian billionaires.

The US President made the announcement during his State of the Union address on Tuesday night, as he outlined the “powerful economic sanctions” being levied against Russia and its President Vladimir Putin over the invasion of Ukraine.

“The free world is holding him accountable, along with 27 members of the European Union including France, Germany, Italy as well as countries like the United Kingdom, Canada, Japan, Korea, Australia, New Zealand and many others, even Switzerland are inflicting pain on Russia and supporting the people of Ukraine,” Mr Biden said.

“Putin is now isolated from the world more than he has ever been. Together along with our allies, we’re right now enforcing powerful economic sanctions. We’re cutting off Russia’s largest banks (from the) international financial system. Preventing Russia’s Central Bank from defending the Russian rouble, making Putin’s $US630 billion war fund worthless. We’re choking Russia’s access to technology that will sap its economic strength and weaken it military for years to come.”

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The U.S. Department of Justice is assembling a dedicated task force to go after the crimes of Russian oligarchs.

We are joining with our European allies to find and seize their yachts, their luxury apartments, their private jets.

We are coming for their ill-begotten gains.

— President Biden (@POTUS) March 2, 2022

Mr Biden continued, “Tonight I say to the Russian oligarchs and corrupt leaders who built billions of dollars off this violent regime – no more. The United States Department of Justice is assembling a dedicated task force to go after the crimes of the Russian oligarchs. We’re finding and seizing their yachts and luxury apartments, their private jets. We’re coming for you ill-begotten gains.”

The President also announced that the US would be joining its allies in closing off American air space to all Russian flights, “further isolating Russia and adding additional squeeze on their economy”.

“He has no idea what’s coming,” he said.

“The rouble has already lost 30 per cent of its value. The Russian stock market has lost 40 per cent of its value, and trading remains suspended. The Russian economy is reeling and Putin alone is the one to blame.”

During the speech, Mr Biden also had an awkward slip of the tongue, referring to the “Iranian” rather than Ukrainian people.

“Putin may circle Kyiv with tanks, but he’ll never gain the hearts and souls of the Iranian people,” he said.

BIDEN AT #SOTU: "Putin may circle Kyiv with tanks, but he'll never gain the hearts and souls of the Iranian people." pic.twitter.com/T8nQOABpC3

— Breaking911 (@Breaking911) March 2, 2022

The announcement came amid reports Russian oligarch Roman Abramovich was being forced to consider offers to sell English football giant Chelsea.

Mr Abramovich, who bought the Premier League team in 2003, announced on Sunday he had handed over the stewardship of the club to the trustees of its charitable foundation.

English government officials have called for action to be taken against Russian billionaires who have dealings in the UK.

On Monday, the European Union announced targeted sanctions against 26 individuals, including some of Mr Putin’s closest confidantes.

The list included Igor Sechin, head of state-owned oil company Rosneft, and billionaire Alisher Usmanov, who also has ties with Premier League football club Everton.

The EU declaration said restrictive measures included “an asset freeze and a prohibition from making funds available to the listed individuals and entities”.

In addition, a travel ban would prevent those named from entering or travelling through EU territory.

Describing Mr Usmanov as someone with particularly close ties to Mr Putin, it added, “He has been referred to as one of Vladimir Putin’s favourite oligarchs. He is considered to be one of Russia’s businessmen-officials, who were entrusted with servicing financial flows, but their positions depend on the will of the President.”

— with AFP