Nearly $5 million worth of artwork was seized from Russian oligarch Alisher Usmanov, as reported by German newspaper Suddeutsche Zeitung. German authorities confiscated 30 paintings, including one by Marc Chagall.
Usmanov, known as one of the world’s wealthiest men with an estimated fortune of more than $19.5 billion, was sanctioned by the E.U. after the Russian invasion of Ukraine, due to his close ties with Vladimir Putin.
The German police previously seized the oligarch’s 500-feet long yacht Dilbar, the world’s largest yacht with an estimated value of $735 million, in Hamburg in April.
Up until 2021, Usmanov’s art collection was displayed on the superyacht. German authorities found the collection in a storage facility near the Hamburg airport and in Usmanov’s villa on Lake Tegernsee in Bavaria.
Because of sanction enforcements passed by Germany after the invasion, Usmanov was supposedly required to report his assets in the country. Since Usmanov failed to do so, German authorities claim they are allowed to confiscate his artwork and yacht for the time being.
Representatives for Usmanov told the Suddeutsche Zeitung the assets were never owned by the Russian oligarch but by foundations over which he has no control, and that Usmanov therefore never had to report ownership of the art collection or vessel.