No home for oligarchs in the Pacific

Marshall Islands consider "exclusion" of Russian ships and yachts from shipping register

The Marshall Islands are considering removing Russian yachts or boats affected by the West's sanctions against Russia over its invasion of Ukraine from their shipping register, their Foreign Minister Casten Nemra said on Friday. The minister strongly condemned the Russian invasion. For the island state in the Pacific, the operation of a ship registry is a significant source of income, comparable to Panama and Liberia. It is not known how many ships could be affected.

As Western countries have confiscated luxury yachts linked to Russian oligarchs because of the Russian invasion of Ukraine, the registrants are also reacting. Some yachts have fled from Europe to the Maldives because there are said to be no extradition agreements there. The Marshall Islands are a close ally of the USA.

Source: Thomson Reuters, own research