A small part of the Treasury is charged with regulating the spending of sanctioned individuals – but faces a mountain of paperwork and criticism that it is being too lenient
It is hurricane season in the Caribbean and the billionaire owner of Le Grand Bleu, one of the largest superyachts ever to sail the seven seas, is losing sleep over it.
The 113-metre-long vessel belongs to Eugene Shvidler, a Russian-born oil tycoon who was sanctioned by the UK last year, due in part to his long association with Roman Abramovich, himself accused of enjoying a cosy relationship with Vladimir Putin.
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