US To Seize Putin Ally's $25M-Boeing 737 Jet For Converting It Into 'Contraband'

The U.S. on Wednesday obtained a warrant to seize Vladimir Putin‘s ally’s over $25 million worth jet.

What Happened: The President Joe Biden-led administration will be seizing a Boeing owned by Russian oil company Rosneft, whose CEO Igor Sechin is a long-standing ally of the Russian president

The U.S. Justice Department said the District Court for the Eastern District of New York authorized the seizure based on violations of export controls and sanctions against the Kremlin. 

“By violating Commerce Department export controls, Rosneft has converted its jet into contraband,” Andrew Adams, a Justice Department official, said.

See Also: Putin’s Forces Putting World On ‘Brink Of Nuclear Catastrophe’ After Zaporizhzhia Strike

The collective West imposed sanctions against Russia after Putin invaded Ukraine last year to impede global trade and restrict the financing capabilities of Russian oil firms. According to the Justice Department, the U.S.-manufactured Boeing 737-7JU aircraft has left and reentered Russia at least seven times since the imposition of the sanctions. 

“Today’s enforcement action demonstrates there is a price to pay for Russian companies and oligarchs that flagrantly evade sanctions that the United States has imposed in response to the unjustified war against the people of the Ukraine,” U.S. Attorney Breon Peace said.

The aircraft jet was last in the U.S. in March 2014 and is believed to be in, traveling to, or from Russia. 

Check out more of Benzinga’s Europe and Asia coverage by following this link.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsPoliticsGlobalGeneralEurasiaJoe BidenRussia-Ukraine WarVladimir Putin
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!