CLOUDBREAK

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Superyacht of Russian oligarch berthed in Cape Town despite international sacntions

On Dec 7, 2024, the 'Cloudbreak' has berthed at Cape Town’s V&A Waterfront Owned by Russian billionaire Alexander Alexandrovich Svetakov, the yacht has docked in the harbour despite the ongoing global sanctions placed on its owner. Svetakov, a Russian property tycoon with a reported net worth of $2.5 billion, is a key figure in Russia’s business landscape. However, following Russia’s invasion of Ukraine in 2022, Svetakov faced sanctions from the USA and the EU. These sanctions are designed to limit the influence of Russian oligarchs by seizing assets like luxury yachts, jets, and real estate, but the 'Cloudbreak' has still managed to make its way to South African waters, as Cape Town’s V&A Waterfront has no restrictions on the docking of Russian-owned vessels. South Africa, as a member of BRICS, has no national policy blocking Russian-owned yachts from entering local ports.