In the dark of night on March 4, Italian police encircled a 215-foot superyacht belonging to Russia’s fourth-richest person, Alexey Mordashov. The steel tycoon, however, had already made moves of his own.
As lawmakers worldwide ratchet up pressure on some of Russia’s elite as a way to pressure Vladimir Putin, they’ve pointed to blocked superyachts, luxury real estate and sports clubs as signs their efforts are working. The truth is murkier, with Russian billionaires shifting ownership stakes, ditching board roles and giving up control — all revealed in corporate filings that can take days before becoming public.
