French police have arrested Russian billionaire Alexei Kuzmichev, one of the co-founders of the Alfa Group who is targeted by EU sanctions, on suspicion of tax fraud and violating sanctions. Two yachts worth more than five million euros ($5.3 million) owned by Kuzmichev, who claims to have family ties in France, were seized by the authorities in March 2022 as a result of the EU sanctions. The European Union placed Kuzmichev on a list of Russian nationals targeted by sanctions in March 2022, following Moscow’s invasion of Ukraine. According to the EU, Alfa BankĀ in which Kuzmichev holds a large stake is one of Russia’s biggest tax payers and the businessman himself counts among “the most influential people in Russia” with close links to President Vladimir Putin. Is Europe lacking a plan to stop Russia?