The collection includes a piece by Marc Chagall

Art collection of Russian oligarch Alisher Usmanov was seized by German Authorities. According to the German newspaper Suddeutsche Zeitung, German authorities confiscated 30 paintings owned by Alisher Usmanov, including one piece by Marc Chagall. His collection is estimated value of €5 million ($4.9 million).

Alisher Usmanov, 69-year-old billionaire, was sanctioned by the E.U. Due to his close ties with the Kremlin and Vladimir Putin after the Russian invasion of Ukraine. 

Until 2021, art collection of Usmanov was displayed on Dilbar, which was Usmanov’s Superyacht. However, when the yacht was being repaired in Hamburg, the artworks were moved to a storage facility near the Hamburg airport and in Usmanov’s villa on Lake Tegernsee in Bavaria.

But In April, after Russia’s invasion, the yacht was seized. Moreover, the German government declared Alisher Usmanov should have declared his assets in the country. Usmanov, however, did not report all his assets in Germany, including art collection. To add insult to serious injury, in September, German authorities found the collection in a storage and a villa along with other properties supposedly linked to Usmanov. It included four rare Russian Faberge eggs, worth over $30 million.

Since Usmanov didn’t report his assets, German authorities claim they are allowed to confiscate his artwork and yacht for the time being.

Sayart.net
Rachel Bae, sungmin.b.213@gmail.com