- Alexei Kuzmichev, a sanctioned Russian banker, has sued French authorities, per Bloomberg.
- He claimed they had no right to board and immobilize two of his yachts, the report said.
A Russian billionaire who was sanctioned by the European Union has sued French authorities after they boarded his two luxury yachts as part of the sanctions against him, Bloomberg first reported.
Two superyachts owned by Alexei Kuzmichev, cofounder of Russia's largest private bank Alfa-Bank, were seized by French authorities in March as the West cracked down on Russian assets. The EU placed Kuzmichev on its sanctions list on March 15, meaning his assets were frozen.
Kuzmichev has now claimed that French customs authorities had no right to enter and immobilize the two vessels docked in the French Riviera, according to Bloomberg.
Kuzmichev's 17-meter yacht, "Little Bear I," worth $22 million, was confiscated in Cannes, while his other yacht "Little Bear II," valued at $76 million, was impounded in Antibes, a government source told AFP.
Philippe Blanchetier, Kuzmichev's lawyer, told the Paris court of appeals on Wednesday that authorities investigated both of the yachts over sanctions violations, but failed to discover anything wrong, Bloomberg reported.
"None of the inspection reports even hints at the possibility of an infringement," Blanchetier claimed, per Bloomberg. "Being Russian and rich doesn't make you necessarily a thug."
The captains of both yachts weren't read their rights, Blanchetier added, per the report.
Blanchetier claimed that immobilizing Kuzmichev's yachts was a "legal heresy" from authorities, adding that was more like a seizure than an asset freeze and went beyond EU sanctions, Bloomberg reported.
Blanchetier didn't immediately respond to Insider's request for comment. The Paris court of appeals declined to share documentation relating to the case with Insider.
Marie-Anne Josrolland, a customs official, told Bloomberg: "Freezing measures are immediately applicable and customs have to ensure compliance."
She told the publication that authorities were entitled to board the yachts to investigate whether they had evaded EU sanctions or not.
Kuzmichev stepped down from the $22 billion investment firm LetterOne in early March. The EU said in a report announcing the sanctions, that Kuzmichev had "well-established ties" to Russian President Vladimir Putin and was "one of the most influential persons in Russia."
In June, Kuzmichev lost a lawsuit over the French government's decision to reveal the locations of his house in Paris and a villa on the Riviera, Bloomberg reported.
Dozens of yachts were seized from oligarchs in the months following Russia's invasion of Ukraine. French authorities seized a $120 million yacht belonging to Igor Sechin, CEO of Russian state-controlled oil giant Rosneft, while Italy impounded Andrey Melnichenko's $578 million yacht under EU sanctions.