Tycoon Boris Rotenberg loses private jet over US sanctions

MOSCOW, Jan 23 (PRIME) -- Russian tycoon Boris Rotenberg has lost his private jet due to the sanctions imposed by the U.S. Treasury, a Rotenberg representative told PRIME on Wednesday.

“After the introduction of sanctions, the bank unilaterally stopped accepting transactions from Damstone Limited (owner of the plane) and later sold the aircraft without notifying the borrower. The bank has set the sale price on its own and told nothing about it to the borrower,” the person said.

Earlier this week, Forbes reported quoting business aviation sources that Boris Rotenberg’s brother Arkady also lost his personal jet due to the sanctions. According to Forbes, Boris Rotenberg owned a U.S. $25 million Bombardier Global 5000 plane through Cyprus-registered Damstone Limited, while Arkady Rotenberg owned a $15 million plane through Cyprus-registered Olpon Investment Limited.

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