Originally Syndicated on August 29, 2023 @ 12:26 pm
Leonid Mikhelson‘s mega yacht went missing in the Caribbean Sea. This is a sign that Russian billionaires are under more pressure now that their country has invaded Ukraine. Mikhelson is the founder and chairman of the Russian energy giant Novatek. He is one of the richest people in Russia, and his boat, the Ocean Victory, is one of the largest and most luxurious in the world.
The $150 million mega yacht was last seen in the Caribbean Sea on March 8, just a few days after Mikhelson was hit with sanctions by the US. The boat is no longer visible to the public, and no one knows where it is now. Some experts think the boat might have turned off its transponders to avoid being found. Others think it may have been moved to a country where US sanctions don’t apply.
In this important and interesting investigation, we get to the bottom of the mystery surrounding the sudden disappearance of the Ocean Victory. We look at possible reasons and effects that go far beyond the clear Caribbean seas. The story of a missing mega yacht reveals many things about power, luxury, and the long-term effects of international sanctions on the lives of the very wealthy.
Table of Contents
Who is Leonid Mikhelson?
Leonid Mikhelson is a Russian-Israeli billionaire businessman. He is the founder and chairman of the Russian gas company Novatek and the chairman of the board of directors of the petrochemical company Sibur. He is also a major shareholder in both companies.
He was born into a Jewish family in Kaspiysk, Russia, in 1955. He graduated from the Samara Institute of Civil Engineering in 1977 with a degree in industrial civil engineering. He then worked as a foreman at a construction and assembly company in the Tyumen area of Siberia.
In 1991, he became the managing director of Nova, a company that was formed from the privatization of Kuibishevtruboprovodstroy. In 1994, he became the general director of Novafinivest, which later became known as Novatek.
He is a major art collector and philanthropist. He established the V-A-C Foundation, which promotes contemporary Russian art. The foundation has international ties with the New Museum in New York, the Tate Museum in the UK, and London’s Whitechapel Gallery.
He is married with two children. He lives in Moscow and also holds Israeli citizenship.
Here are some additional details about his career and achievements:
- In 2012, he was listed as the second-richest Russian in a number of articles, including Bloomberg.
- He is the recipient of the Russian Federation’s Order of the Badge of Honour.
- His daughter, Victoria, studied art history at New York University and London’s Courtauld Institute.
- His VAC Foundation Victoria, the Art of Being Contemporary, is named after her.
Victim of US Sanctions
In 2017, Leonid Mikhelson was named in the Countering America’s Adversaries Through Sanctions Act (CAATSA), which was signed into law by President Donald Trump. CAATSA is a law that imposes sanctions on individuals and entities that support the Russian government’s malign activities. Mikhelson is subject to a number of restrictions, including:
- He is prohibited from doing business with US citizens or companies.
- His assets in the United States are frozen.
- He is banned from entering the United States.
He has also been sanctioned by the UK government in relation to the Russo-Ukrainian War. The UK sanctions prohibit Mikhelson from travelling to the UK and from doing business with UK citizens or companies.
The sanctions that have been placed against him have had a substantial effect on the business interests that he has. As an illustration, he was compelled to dispose of his interest in the Nord Stream 2 gas pipeline construction project. Because of the sanctions, both travelling and conducting business with international partners have become more challenging for him.
It is far too soon to speculate on what the long-term results of the sanctions that have been imposed against him will be. On the other hand, it cannot be denied that they have made a considerable contribution to both the professional and personal aspects of his life.
Mikhelson has had to contend with the additional personal burden of being called a “Russian oligarch,” in addition to the financial and legal repercussions that the sanctions have brought about. Some people have used this moniker to portray him as a corrupt and powerful individual who is linked to the Russian government. They have done this by portraying him as close to the Russian government.
The mystery of Leonid Mikhelson’s yacht disappearance in the Caribbean amidst sanctions
The $150 million mega yacht belonging to Leonid Mikhelson, Russia’s second-richest person and head of a sanctioned gas business, stops sending its location.
The last known direction of the ship pointed to the Bahamas, which is known for working with other countries to seize ships. The ship, which was called the Pacific and had fancy features like two helicopters, disappeared from tracking systems in the Caribbean Sea, making it hard to know where it was and what it wanted.
Disappearance in Caribbean Waters: The Pacific, a huge mega yacht that is 85 metres (279 feet) long, was seen moving quickly in the Caribbean Sea. But its electronic trail disappeared all of a sudden after 9 p.m. local time on May 8, as the reports say.
Speculations and Alternate Destinations: Ian Ralby, CEO of the maritime law and security firm I.R. Consilium, points out how strange it is that Russian billionaires see the Bahamas as a safe place to do business because it is close to the United States. Instead of going into a place that could be dangerous, there is discussion that the boat could turn around and go to a place that is more friendly to Russian interests, like Cuba or Venezuela, to avoid the sanctions.
Conclusion
The Russian oligarch Leonid Mikhelson‘s mega yacht disappeared into the unknown, which is a symbol of the pressures on the wealthy elite in a time of geopolitical chaos and global sanctions.
With the disappearance of the Pacific, those who are sailing the high seas of international relations are leaving behind a trail of questions that give a glimpse into their secret moves. Even wealth is dwarfed by the complicated dance of global dynamics in this maritime puzzle, leaving us to wonder about the secret paths that power and wealth take in a world that is always changing.
