Here are the superyachts seized from Russian oligarchs
As part of an international pressure campaign on Russia, authorities from around the world have seized more than a half-dozen superyachts belonging to billionaire oligarchs allied with Russian President Vladimir Putin.
The yacht seizures since the Feb. 24 invasion are "just the beginning," White House press secretary Jen Psaki told reporters in March, as an international task force worked to identify further assets that can be seized or frozen.
“The Justice Department will be relentless in our efforts to hold accountable those who facilitate the death and destruction we are witnessing in Ukraine,” U.S. Attorney General Merrick Garland said of the ongoing efforts in May.
Here are the superyachts government officials have seized since Russia invaded Ukraine last month.
![biggest russian yacht seized Image: The Amadea anchored at a pier in Pasatarlasi on Feb. 18, 2020 in Bodrum, Turkey.](https://media-cldnry.s-nbcnews.com/image/upload/t_fit-760w,f_auto,q_auto:best/rockcms/2022-05/220505-amadea-yacht-se-204p-7c6320.jpg)
The Justice Department announced May 5 that the Fijian government had seized billionaire oligarch Suleiman Kerimov 's 348-foot yacht Amadea. The vessel, which is valued at more than $300 million , arrived in Fiji last month. Kerimov, who's worth an estimated $14 billion and has ties to the Russian government, was sanctioned by the U.S. Treasury Department over alleged money laundering in 2018.
Special features on the sprawling yacht include a helipad, infinity pool, a jacuzzi and multiple bars, according to a report in Boat International . It can accommodate 16 overnight guests in addition to 36 crew members, the report said.
![biggest russian yacht seized Tango yacht in Marmaris, Turkey on April 19, 2014.](https://media-cldnry.s-nbcnews.com/image/upload/t_fit-760w,f_auto,q_auto:best/rockcms/2022-05/220505-tango-yacht-se-207p-9d1b95.jpg)
In April, Spanish law-enforcement officials seized a 255-foot yacht called the Tango, which Justice Department says is owned by oligarch Viktor Vekselberg. Vekselberg is an aluminum magnate who the Treasury Department says has close ties to Russian President Vladimir Putin.
The Tango is worth an estimated $90 million, prosecutors said , and Vekselberg allegedly purchased it through shell companies. The 11-year-old yacht has seven staterooms and reportedly includes amenities such as a pool, gym and beauty salon .
![biggest russian yacht seized Detained Superyachts Of Sanctioned Russian Billionaires](https://media-cldnry.s-nbcnews.com/image/upload/t_fit-760w,f_auto,q_auto:best/rockcms/2022-03/220316-Alexey-Mordashov-yacht-lady-m-ew-320p-61779a.jpg)
Authorities in Italy seized a 215-foot superyacht called the Lady M this month. It's owned by Alexei Mordashov, Russia's richest businessman, and it’s estimated to be worth $27 million . The vessel, which requires a crew of 14, has six guest cabins , a pool and a gym.
But it pales in comparison to another of Mordashov's yachts, the $500 million Nord . The 464-foot vessel, which has two helipads and a waterfall and can accommodate 36 guests, was anchored this month in the Seychelles, where the U.S. and European Union sanctions don’t apply.
![biggest russian yacht seized Image: The yacht "Lena", belonging to Gennady Timchenko, an oligarch close to Russian President, in the port of San Remo on on March 5, 2022 .](https://media-cldnry.s-nbcnews.com/image/upload/t_fit-760w,f_auto,q_auto:best/rockcms/2022-03/220316-Gennady-Timchenko-yacht-lena-ew-322p-f1c00c.jpg)
Italian officials also seized the 132-foot superyacht Lena, owned by the energy magnate Gennady Timchenko. Estimated to be worth $8 million, it has five cabins and can accommodate 10 guests.
![biggest russian yacht seized The "SY A" yacht, owned by Russian billionaire Andrey Melnichenko, seized by Italian authorities](https://media-cldnry.s-nbcnews.com/image/upload/t_fit-760w,f_auto,q_auto:best/rockcms/2022-03/220316-Andrey-Melnichenko-sy-a-yacht-ew-325p-850b29.jpg)
SY A — short for Sailing Yacht A — is one of the world's largest superyachts. Valued at over $440 million, the 469-foot vessel, owned by the fertilizer magnate Andrey Melnichenko, has eight decks, multiple elevators, an underwater observation area and the world's tallest masts . It was seized in the Italian port of Trieste.
![biggest russian yacht seized Image: The 85m long yacht "Valerie", linked to Rostec defense firm chief Sergei Chemezov, moored in the port of Barcelona, on March 15, 2022.](https://media-cldnry.s-nbcnews.com/image/upload/t_fit-760w,f_auto,q_auto:best/rockcms/2022-03/220315-oligarch-yacht-mb-1312-e6fd6d.jpg)
Authorities in Spain seized Sergei Chemezov's Valerie, a 279-foot superyacht that had been moored in Barcelona. Chemezov , a former KGB officer, heads the state conglomerate Rostec. Spanish Prime Minister Pedro Sanchez touted the seizure on La Sexta television. “We are talking about a yacht that we estimate is worth $140 million,” Sanchez said.
![biggest russian yacht seized Image: Amore Vero, a yacht owned by a company linked to Igor Sechin, chief executive of Russian energy giant Rosneft, in a shipyard in La Ciotat, near Marseille, southern France, on March 3, 2022.](https://media-cldnry.s-nbcnews.com/image/upload/t_fit-760w,f_auto,q_auto:best/rockcms/2022-03/220303-amore-vero-al-0944-69d0a7.jpg)
Officials in France announced this month that they had seized the 289-foot Amore Vero, which was undergoing repairs in a shipyard near Marseille. When they arrived, authorities said, they found the crew preparing for an urgent departure, even though the repair work was scheduled to last through April. The $120 million boat, which has seven cabins , is linked to Igor Sechin, described by the U.S. Treasury Department as a close ally of Putin's.
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Dareh Gregorian is a politics reporter for NBC News.
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Superyacht seized by U.S. from Russian billionaire arrives in San Diego Bay
June 27, 2022 / 3:40 PM EDT / CBS/AP
A $325 million superyacht seized by the United States from a sanctioned Russian oligarch arrived in San Diego Bay on Monday.
The 348-foot-long (106-meter-long) Amadea flew an American flag as it sailed past the retired aircraft carrier USS Midway and under the Coronado Bridge.
"After a transpacific journey of over 5,000 miles (8,047 kilometers), the Amadea has safely docked in a port within the United States, and will remain in the custody of the U.S. government, pending its anticipated forfeiture and sale," the Department of Justice said in a statement.
The FBI linked the Amadea to the Russian oligarch Suleiman Kerimov, and the vessel became a target of Task Force KleptoCapture, launched in March to seize the assets of Russian oligarchs to put pressure on Russia to end the war in Ukraine. The U.S. said Kerimov secretly bought the vessel last year through various shell companies.
But Justice Department officials had been stymied by a legal effort to contest the American seizure warrant and by a yacht crew that refused to sail for the U.S. American officials won a legal battle in Fiji to take the Cayman Islands-flagged superyacht earlier this month.
![biggest russian yacht seized US-UKRAINE-RUSSIA-CONFLICT](https://assets3.cbsnewsstatic.com/hub/i/r/2022/06/27/338b9e91-90a5-4d37-b2d8-b478a2d15837/thumbnail/620x413/45d24c257a4e18771aab0cc8e204b974/gettyimages-1241350947.jpg?v=5710b2ed1cee1bdfd30cb9c02455b43d#)
The Amadea made a stop in Honolulu Harbor en route to the U.S. mainland. The Amadea boasts luxury features such as a helipad, mosaic-tiled pool, lobster tank and a pizza oven, nestled in a décor of "delicate marble and stones" and "precious woods and delicate silk fabrics," according to court documents.
"The successful seizure and transport of Amadea would not have been possible without extraordinary cooperation from our foreign partners in the global effort to enforce U.S. sanctions imposed in response to Russia's unprovoked and unjustified war in Ukraine," the Justice Department said.
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Photos show the luxury mega yachts that belong to Russian oligarchs — some of whom have hidden their ships as the UK ramps up sanctions.
- Sanctions targeting Russian oligarchs threaten their luxury assets — including their mega yachts.
- Many countries have implemented sanctions targeting Putin and Russian oligarchs following Russia's attack on Ukraine.
- Insider compiled a photo list of some of the luxury vessels.
![biggest russian yacht seized Insider Today](https://www.businessinsider.com/public/assets/BI/US/logos/newsletters/insider-today-logo.png)
Russian billionaires' assets — including their megayachts — are in danger of being seized as countries continue to impose sanctions on Russian oligarchs in response to Russia's invasion of Ukraine.
US President Joe Biden announced that the US will make a substantial effort to seize Russian oligarchs' assets.
"We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets," Biden said in his State of The Union address on March 1. "We are coming for your ill-begotten gains."
Since the US is not in "armed conflict" with Russia it may be legally tricky to seize assets like yachts, Insider reported .
"The threshold for seizing assets under sanctions is that the US has to be in armed conflict with the owner of the assets," Brian O'Toole, an economic sanctions expert, tweeted last Friday. "The idea of turning Russian corruption into Ukrainian assistance is lovely but this idea is illegal, period."
It can also be difficult to find out who the owners of these yachts are.
Offshore companies typically own the luxury vessels, but enough "public speculation" pointing to a Russian oligarch as an owner is likely "sufficient for a seizure," Insider reported .
Many of the oligarchs moved their yachts to places where they can't be seized, such as the Maldives, which does not have an extradition treaty with the US.
Insider has compiled a list of photos with mega yachts linked to Russian oligarchs.
Galactica Super Nova
Amid sanctions and seizures targeting Russian billionaires, Galactica Super Nova — said to be linked to the CEO of Russian oil firm Lukoil — is no longer detectable via ship tracker site MarineTraffic , The Daily Beast reported Thursday.
The superyacht — whose owner is named Vagit Alekperov — had just been in Montenegro last week, Insider reported .
Alekperov is not currently the target of any sanctions.
The yacht is almost 230 feet long and can hold up to 12 guests and 16 crew members, according to the ship maker Heesen Yachts .
The ship also has a helicopter pad that can turn into an outdoor movie theatre, also according to the ship maker.
The Amore Vero
France seized Amore Vero, a 281-foot megayacht linked to oligarch and politician Igor Sechin, on March 3.
The yacht, Amore Vero, is estimated to have a value of $120 million . It has a swimming pool that doubles as a helicopter pad and a private deck for its owner, according to Oceana , the ship maker.
Per The Wall Street Journal , officials believe that Amore Vero is "owned by a company whose majority shareholder was Mr. Sechin," though the outlet does not provide the name of the company.
Sechin is the CEO of Rosneft, Russia's oil giant, and a former deputy prime minister. A known Putin ally , he was sanctioned by both the EU and the US before France seized his yacht last week .
Sechin was one of seven oligarchs sanctioned by the UK on Thursday.
People in Russia have referred to Sechin as "Darth Vader" and "the scariest man on Earth," according to The Guardian .
Alisher Usmanov has been sanctioned by the EU, the US, the UK, and Switzerland. His boat remains in Germany, but the country says it hasn't seized it.
Usmanov's Dilbar is "is the largest motor yacht in the world by gross tonnage," according to Lürssen , the German ship's maker.
It's 512-foot long and weighs 15,917 tons. The ship has been docked in Germany for months undergoing a "refitting," but last week Forbes reported that it was unable to leave the dock.
Germany, however, has denied that it formally seized Dilbar.
Forbes said that "the German federal customs agency is the 'responsible enforcement authority' and would have to issue an export waiver for the yacht to leave, and that 'no yacht leaves port that is not allowed to do so.'"
Still, multiple outlets reported that Usmanov has fired the crew on the Dilbar.
The Uzbekistan-born oligarch is a supporter of Putin.
"I am proud that I know Putin, and the fact that everybody does not like him is not Putin's problem," Usmanov told Forbes in a 2010 interview.
Suleyman Kerimov was sanctioned by the US, and his son, Said Kerimov, owns ICE. The superyacht is worth is an estimated $170 million.
The Kerimov family owns the majority of Polyus Gold, Russia's biggest gold producer .
ICE was dubbed "Superyacht of the Year" in 2006 at the World Super Yacht Awards, according to Boat International . It is approximately 300 feet and has its own resident helicopter, according to Club Yacht .
Quantum Blue
Sergey Galitsky's ship, Quantum Blue, has an estimated value of $250 million and is last known to be docked in Monaco.
Galitsky is the founder of one of Russia's largest supermarket chains, Magnit.
His name is not currently on the list of sanctioned Russian oligarchs,
Though he also is not the target of any current sanctions, Vladimir Potanin's superyacht, Nirvana, is one of at least four ships docked in the Maldives .
Potanin is the Former First Deputy Prime Minister of Russia and was a longtime trustee for the Guggenheim museum before stepping down on March 2, according to The New York Times .
Nirvana is not Potanin's only superyacht, he also owns another named Barbara, according to Fortune .
Alexander Abramov's Titan, Alexei Mordashovis' Nord, and Oleg Deripaska's Clio are also located in the Maldives.
At 533 feet long, Roman Abramovich's Eclipse was the largest yacht on the globe until 2013 when the 590-foot Azzam overthrew it.
Abramovich, once Russia's richest man , is the departing owner of Chelsea FC soccer club. He was sanctioned by the UK on Thursday along with six other oligarchs, Insider reported .
The luxury boat has a host of amenities, including two helicopter pads, a missile detection system, and a swimming pool more than 50 feet long. It also has space for up to 36 guests and 70 crew members, according to Yacht Harbour .
Insider previously reported that it is currently docked in the Caribbean .
Another yacht named Solaris is linked to Abramovich. The vessel, worth approximately $600 million, left Spain Tuesday after having been under repair since late 2021, Insider reported.
Solaris is 460 feet and can host a total of 36 guests, according to SuperYachtFan .
Tango, owned by the US-sanctioned Viktor Vekselberg, is currently located in Palma, Spain.
Tango can host up to 14 people and is 254 feet long, won the 2012 World Superyacht Awards, and has an estimated worth of $120 million, according to SuperYachtFan .
Vekselberg is a Ukrainian-born businessman who owns Renova, a Russian conglomerate, according to The Guardian .
He was one of nearly two dozen Russian oligarchs and officials that the US sanctioned on Friday.
The US Treasury Department claims that he has close ties with Putin, and has announced that assets such as his $90 million jet and his superyacht Tango have been frozen, Insider reported .
Graceful, a yacht reported to belong to Russian President Vladimir Putin, left Germany just before his invasion of Ukraine, Insider reported in early February.
—Manu Gómez (@GDarkconrad) February 9, 2022
Graceful is 270 feet long and has a saloon, gym, spa, library, and an indoor pool nearly 50 feet long that doubles as a dance floor.
Scheherazade
A mystery yacht remains untouched as the owner remains a mystery.
The owner of the 459-foot Scheherazade is suspected to be a Russian billionaire, though the owner was never publically identified, The New York Times reported .
Many people believe it belongs to Vladimir Putin, nicknaming the vessel "Putin's Yacht."
SuperYachtFan estimates the ship's value sits at $700 million.
Stella Maris
Stella Maris is linked to oil and gas tycoon Rashid Sardarov. It was last seen in Nice, France, according to The Washington Post .
The luxury vessel is priced at $75 million, is 237 feet long, and can hold up to 14 guests, per SuperYachtFan .
Sardarov is not being sanctioned.
Sailing Yacht A
Sailing Yacht A is believed to belong to Andrey Melnichenko. The boat was seized by Spanish officials Saturday, Reuters reported .
The ship is more than 465 feet long and can hold up to 20 guests, according to SuperYachtFan . The website says that Sailing Yacht A also features an underwater observation area and has a value of more than $500 million.
Melnichenko is an EU-sanctioned Russian billionaire who works in coal and fertilizers, according to Forbes . The magazine also reported that he owns a second yacht, Motor Yacht A, which is similar to a submarine.
Oligarch Gennady Timchenko's superyacht "Lena" was seized in the port of Sanremo, Italy on March 5, Reuters reported.
Timchenko is the owner of a private investment group, Volga Group and a shareholder of Bank Rossiya. The oligarch has been sanctioned by the EU, which describes him as a "long-time acquaintance of the President of the Russian Federation Vladimir Putin."
Timchenko was also sanctioned by the UK on February 22.
The superyacht is valued at around 50 million euros ($54 million), Reuters reported. It has fold-down terraces, as well as an "owner's suite" which opens out onto the sea with "gull-wing doors," according to its manufacturer, Sanlorenzo.
Italian authorities also seized a $71 million super-yacht belonging to one of the wealthiest men in Russia , Alexei Mordashov.
The 215-ft "Lady M" superyacht was seized in the Port of Imperia, northern Italy, a source confirmed to Reuters.
The yacht can accommodate up to six guests on and also has accommodation for four crew members, per the Superyacht Times .
The oligarch, who is the chairman of steel mining company, Severstal, has also been sanctioned by the EU, which says Mordashov is "benefiting from his links with Russian decision-makers." Mordashov has insisted he has "absolutely nothing to do" with Russia's attack on Ukraine.
The Oligarch moved $1.3 billion worth of shares in travel company, TUI, to an offshore tax haven on the day he was hit by sanctions, Insider's Huileng Tan previously reported.
He was also added to the UK government's sanctions list on March 15.
Some superyachts belonging to Russian billionaires are currently seeking refuge in the Maldives, including a yacht owned by billionaire Oleg Deripaska, Reuters reported.
The billionaire, who is also the founder of one of Russia's largest industrial groups, Basic Element, was added to the UK's sanctions list on March 10.
Also built by Lürssen, the superyacht - which is around 238 feet long - can accommodate 18 guests in nine cabins, per Superyacht Fan.
The superyacht Valerie - worth $140 million - was seized in Barcelona on Monday, Spanish Prime Minister, Pedro Sanchez, said on La Sexta television, per Reuters.
Sanchez did not confirm the owner of the yacht, but two sources confirmed to Reuters that it belonged to Sergei Chemezov, who is said to be a close ally of Putin.
The oligarch, who was previously a KGB spy with Putin in the former Soviet Union, recently said that Russia would emerge victorious from Western sanctions, Reuters previously reported .
Chemezov, who is the CEO of Russian defense conglomerate Rostec was added to the US sanctions list on March 3.
His yacht is 279 feet long and can accommodate 17 guests in eight suites, per Superyacht Fan.
Crescent, most likely owned by Igor Sechin but also rumored to belong to Putin, was the third yacht Spain seized as the West ramps up sanctions, The Washington Post reported Thursday.
The superyacht is 443-feet long and costs an estimated $600 million, according to SuperyachtFan, which also says the vessel hosts a retractable helicopter hangar and a large pool with a glass bottom.
Lady Anastasia
Lady Anastasia is owned by Russian oligarch Alexander Mikheyev but was seized by Spain on Tuesday, according to Reuters .
The boat is almost 160 feet long and can hold up to 10 guests, according to Yacht Harbour .
Mikheyev, who was sanctioned by the EU, is the head of a helicopters division under Rostec, New York Mag reported .
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clock This article was published more than 2 years ago
World’s largest yacht, linked to Russian billionaire, seized by Germany
![biggest russian yacht seized](https://www.washingtonpost.com/wp-apps/imrs.php?src=https://s3.amazonaws.com/arc-authors/washpost/297a8d64-07e4-4020-96de-f7ec0228f029.png&h=196&w=196)
The shipbuilder behind the world’s largest yacht by tonnage describes it as “one of the most complex and challenging yachts ever built,” with “entertainment and recreation spaces never before seen on” such a vessel, and an interior of “rare and exclusive luxury materials.”
It has two helipads and the largest yacht pool ever built, and it can accommodate 36 guests and 96 staff. And this week, it was impounded by German authorities for its ties to a Russian oligarch.
Germany’s federal police said Tuesday that “through extensive investigations despite offshore concealment,” it found that the yacht is owned by Gulbakhor Ismailova, the sister of Russian billionaire Alisher Usmanov.
After police confirmed with Brussels that the vessel’s owner was sanctioned, the superyacht — named Dilbar, after Usmanov’s mother, according to the U.S. Treasury Department — was impounded. It is being held in the Port of Hamburg in Germany.
Meanwhile, in Fiji, police are reportedly investigating a superyacht, suspected of being owned by Russian oligarch Suleyman Kerimov , which docked in the Pacific island nation this week.
The Dilbar, the yacht impounded in Germany, is registered in the Cayman Islands, according to the Treasury Department, and worth between $600 million and $735 million, with an estimated annual running cost of $60 million.
There are larger yachts by length. But at 15,917 tons, the Dilbar is the world’s largest yacht by internal volume, according to the ship’s maker, Lürssen, which touts its “classic profile with a light ivory hull and bronze accents.”
Usmanov is “known to be close to [Russian President Vladimir] Putin as well as Dmitry Medvedev, the Deputy Chairman of the Security Council of Russia and former President and Prime Minister of Russia,” the Treasury Department said, alleging that his ties to the Kremlin “enrich him and enable his luxurious lifestyle.”
In the early days of the invasion, President Biden warned Russian oligarchs: “We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets.”
U.S. hunt for Russian oligarchs’ huge fortunes faces barriers offshore
The United States said on March 3 that it had sanctioned Usmanov, alleging he was among the “key elites” allowing Putin to wage his war on Ukraine. Experts from the Organization for Security and Cooperation in Europe determined in a fact-finding report published Wednesday that Russia broke international humanitarian law by deliberately targeting civilians during its invasion of Ukraine. The United States and other nations have accused Russia of committing war crimes there, and Biden on Tuesday said Putin was committing “ genocide ” in Ukraine.
Usmanov, 68, is the 86th-richest person in the world, with an estimated fortune of $19.1 billion, according to the Bloomberg Billionaires Index . He has “vast holdings across multiple sectors” of Russia’s economy and internationally, the Treasury Department said, including a 49 percent stake in USM, a holding company that controls Russia’s largest iron ore producer, according to Bloomberg.
A representative for Usmanov was not immediately available, and USM did not immediately respond to a request for comment.
In the Fiji case, an official at the National Police Command and Control Center told Reuters that the captain of the vessel, which arrived Tuesday, was being questioned about how it came to Fiji without customs clearance.
Kerimov has been sanctioned by the United States, Britain and the European Union, but questions about the ownership of the luxury vessel remain. Police have seized the superyacht, called the Amadea, a 348-foot vessel worth $325 million, according to the Sydney Morning Herald.
The U.S. Embassy in Suva told the Fiji Times it is “cooperating with Fijian authorities on the matter” and is “committed to finding and seizing the assets of the oligarchs who have supported the Russian Federation’s brutal, unprovoked war of choice against Ukraine.”
Adela Suliman in London contributed to this report.
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Insiders still have no idea what's going to happen to Russian oligarchs' seized superyachts
- It's been two years since Russia invaded Ukraine, leading to sanctions against Russian oligarchs.
- Many of their superyachts were seized or frozen , leading industry insiders to question their fate.
- The yachts, some of which are worth hundreds of millions of dollars, remain in a state of limbo.
More than two years after Russia invaded Ukraine, the boating world still doesn't have many answers about what's going on with the very large, expensive elephants in the sea: oligarchs' superyachts .
The war prompted many governments to enact sanctions against Russia's richest , including seizing their superyachts worth hundreds of millions of dollars. But it's unclear whether they can be sold or who'd buy them, leaving ports peppered with massive boats stuck in a floating limbo.
"The Russian problem, it's becoming a bigger and bigger and bigger problem," one luxury yacht broker told Business Insider at the Palm Beach International Boat Show last week. Like many others, he requested not to be named, given the sensitive nature of the matter at hand and the generally discreet nature of the industry.
Russia has been a massive player in the massive boat market for a long time. In August 2021 — about six months before Russia's Ukraine invasion — Russians owned the second-largest share of yachts over 40 meters in length, according to a report from the industry publication SuperYacht Times.
They were responsible for 16% of new build superyacht purchases in the decade preceding the report and are known for splashing out on extravagant interiors and unique features. (One builder BI spoke to recalled a mandate from an oligarch for a large safe in the owner's cabin in which he could keep his rifles. The builder later learned he'd use them to skeet shoot on deck.)
But those sales have now screeched to a halt as oligarchs get hit by international sanctions. At least a dozen superyachts — worth well over $1 billion combined — have been affected.
And no one is quite sure what will happen to them.
Russia's sanctioned superyachts are hard to buy and sell
The first problem is that many of the yachts are "frozen" — not seized. That means that although the Russian owners can't operate or collect them, they don't technically belong to an overseas government, so they can't be sold without special permission.
Earlier this month, federal prosecutors petitioned a judge asking for consent to sell the Amadea, the 106-meter superyacht that has been docked in San Diego and costs the US as much as $922,000 a month to maintain.
"I've had some inquiries, but all you can tell them is we don't know the outcome yet" of the case, another superyacht broker told BI at the yacht show.
And despite the broker's claim of interest in yachts like Amadea , most ultrarich — or at least their brokers — don't want to go near the vessels with a ten-foot pole, even if the government does get legal permission to sell them.
"How does it look if you bought a Russian boat?" Julia Simpson, a broker at Thompson of Monaco, said. "Even if it's completely legal and normal, there are too many things on the line," she said, like how the original owner got their money and whether that could make the new buyer look bad.
There are also possible legal implications, as it's hard for the government to prove who actually owns the yachts.
"Oligarchs typically structure their ownership of these high-value assets through a web of offshore shell companies and trusts that is designed to conceal the true owner," Joshua Naftalis, a former federal prosecutor who now works for Pallas Partners, told BI.
And if the government does assume ownership, it's highly dependent on court orders. For example, a Russian whose yacht had been seized by the French government regained access to his boat after winning a legal battle in 2022.
"It's a very difficult process to buy them," Ralph Dazert, the head of intelligence at SuperYacht Times, told BI. "There is a high risk of the former (Russian) owner suing you to get the boat back."
He pointed to the Alfa Nero, the 82-meter yacht that Eric Schmidt planned to purchase for $67 million last year in an auction put on by Antigua and Barbuda. He backed out after various parties tried to block the sale, likely deeming it not worth the legal headache.
"When the reason for sanctioning goes away, which it may do," the Russian owners will try to get their boats back , Simpson said. After all, "the government's not going to pay them."'
That said, if sanctions are dropped, the yachts will be worth much less than when they were seized, as a boat not in use deteriorates much faster than one sailing the seas.
"Those yachts need to be used to be kept in shape, kept in condition," the second broker said. "Just having them sit at the dock with a temporary crew on board is not good for the boats."
And the sanctioned Russians who have managed to maintain control of their superyachts won't have an easy time offloading them in the future.
Americans who try to do business with sanctioned oligarchs would have a number of hoops to jump through — like finding a bank to process the purchase, which would be next to impossible. If somehow they did and the government caught wind, they'd face hefty penalties and the transaction would be void.
So Russia's richest have found themselves "stuck" sailing in a select few countries that will let them, like the Maldives, Montenegro, and Dubai.
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Who's Paying for Russian Oligarch's Seized Yacht in San Diego Bay?
The amadea, which superyachttimes.com called the 63rd largest yacht in the world, tied up monday at naval base san diego, in national city, by eric s. page and mari payton • published june 28, 2022 • updated on june 28, 2022 at 2:11 pm.
Many San Diegans who saw the news about the Amadea — the $325 million seized Russian oligarch's yacht that docked in San Diego on Monday — may be wondering: Who's paying for that?
Imagine how much the fuel costs to sail it more than 5,000 miles from Fiji, where it was seized earlier this month, to San Diego? A local marine fuel dock quoted the following prices, if you're wondering: $7.40 for gas, $7.35 for diesel. According to SuperYachtTimes.com, the Amadea has a 392,000-liter fuel tank. That works out to about 103,555 gallons, so it could cost $766,307 or so just to fill up.
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And then there are maintence costs on a 350-foot long yacht, which, you can be sure, are extensive and necessary — in fact, not undertaking such efforts can cause the vessel's value to decline if it deteriotes due to neglect.
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The Amadea carries a full complement of 36 crew, including the captain, according to SuperYachtTimes, but it won't need nearly that many once she tied up at Naval Base San Diego in National City. Nevertheless, someone will be monitoring the yacht and conducting the maintenance.
According to the U.S. Department of Justice, the yacht was bought with what it calls "dirty money," and, as such, some may be relieved to hear, will be sold to the highest bidder. Presumably, the associated post-seizure costs accrued after its seizure will be coming off the top of the sale price. Until then, the Amadea, which SuperYachtTimes called the 63rd larges yacht in the world, will resume in the custody of the U.S.
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Officials with the DOJ said the Amadea, which was seized in connection to the department's KleptoCapture campaign undertaken in the wake of the invasion of Ukraine by Russia, was owned by Suleiman Kerimov a Russian billionaire.
After the yacht arrived in San Diego, John Kirby, a former federal prosecutor, told NBC 7 that he thinks the U.S. government hopes moves like the Amadea's seizure are efforts to apply pressure to Russian president Vladimir Putin.
Earlier this month, Deputy U.S. Attorney General Lisa O. Monaco said, regarding the Amadea, “The department had its eyes on every yacht purchased with dirty money. This yacht seizure should tell every corrupt Russian oligarch that they cannot hide — not even in the remotest part of the world. We will use every means of enforcing the sanctions imposed in response to Russia’s unprovoked and unjustified war in Ukraine.”
The court ruling represented a significant victory for the U.S. as it encounters obstacles in its attempts to seize the assets of Russian oligarchs around the world. While those efforts are welcomed by many who oppose the war in Ukraine, some actions have tested the limits of American jurisdiction abroad.
The United States wasted no time in taking command of the after a Fiji court ruled in its favor and sailed the ship away from the South Pacific nation just hours after the ruling.
"If you could say or somehow prove that this boat … that the oligarch had the money for this boat because he bribed Vladimir Putin, that is public corruption," Kirby said. "It’s a crime even when it takes place outside the United States. The United States can still act upon it."
According the website, the Amadea is not currently for sale, but that may soon change. Until then, you can "shop" for other eye-popping, wallet-busting boats here .
The Associated Press contributed to this report — Ed.
This article tagged under:
Ukraine Says Russia's Last Naval Patrol Ship Leaving Crimea
Ukraine Says Russia's Last Naval Patrol Ship Leaving Crimea
(Reuters) - Ukraine's navy said on Monday that Moscow's last naval patrol ship had left Russian-occupied Crimea, "most likely" to rebase elsewhere after Kyiv's concerted military campaign to attack the Black Sea peninsula as it battles Russian invasion.
Though it has no major warships at its disposal, Ukraine has used missiles and naval drones to inflict significant damage to the Russian Black Sea Fleet, which has long been headquartered in Sevastopol on the peninsula seized by Moscow in 2014.
Vice-Admiral Oleksiy Neizhpapa, Ukraine's navy chief, told Reuters earlier this month that Russia had been forced to rebase nearly all its combat-ready warships from occupied Crimea.
"The last patrol ship of the Black Sea Fleet of the Russian Federation is bolting from our Crimea just now. Remember this day," Navy spokesman Dmytro Pletenchuk said on Facebook.
Asked to clarify whether this was a permanent move, Pletenchuk told Reuters: "Most likely, this is a transition between bases", adding that Moscow did not usually send ships to the open sea for no reason.
He said the vessel's designation was Project 1135.
Russian authorities have not responded to requests for comment in the past about Ukrainian claims of advances in the Black Sea.
Kyiv has destroyed or damaged 27 Russian naval vessels, Neizhpapa said. In May, Ukrainian authorities said they had destroyed the last Russian warship armed with cruise missiles that was stationed on the peninsula.
Moscow's setbacks in the Black Sea come at a time when Ukrainian ground troops are on the back foot across a sprawling front and in particular in the east.
President Vladimir Putin told navy chiefs last month that Russia's fleet had been replenished over recent years and that a major modernisation was under way, including steps to "increase the combat stability of the fleet" and strengthen it.
(Reporting by Yuliia Dysa; editing by Tom Balmforth; and Tomasz Janowski)
Copyright 2024 Thomson Reuters .
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Ukraine-Russia war latest: Russia's advance on Kharkiv 'halted'
Volodymyr Zelensky told leaders at his address at Blenheim Palace that Ukraine had halted Moscow's forces completely in northern Kharkiv.
Thursday 18 July 2024 15:32, UK
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- Russia's Kharkiv advance halted, Zelenskyy says
- Germany to halve military funding for Ukraine
- Crimea and Russian Black Sea ports targeted by Ukraine
- Trial of Evan Gershkovich continues
- Zelenskyy in UK for EPC summit
- Orban's Moscow visit was 'an appeasement mission'
- Big picture: What you need to know this week
- Your questions answered: Could internal dissent lead to Putin's removal from power? | Has the West been honest about Ukraine's failures?
- Live reporting by Ollie Cooper
Thanks for tuning in to our live coverage, that's all for today.
Here are the key events from the day:
- President Zelenskyy said Ukraine had halted Moscow's forces completely in the Kharkiv region;
- Germany looks set to halve its military funding for Ukraine next year;
- Crimea and Russian Black Sea ports were targeted by Ukraine overnight;
- The EU's president dubbed Viktor Orban's visit to Moscow an "appeasement tour";
- Mr Zelenskyy appealed for European unity, defence systems and diplomacy during a visit to Blenheim Palace in the UK.
Five people have been killed and three injured in Russian attacks on the Donetsk region, prosecutors have said.
A woman and her husband were killed in artillery shelling in the village of Pleshchiivka, the general prosecutor's office said.
Another three women were killed in a strike on private buildings in the village of Hrodivka, it added.
Separately, the Russian military dropped two guided bombs on the village of Velyka Novosilka, injuring a man and his wife inside their house, while another man was wounded in an artillery strike in the town of Zalizne.
In April this year, the US finally approved a long-awaited aid package worth some $60.8bn (£49bn) in aid to Ukraine.
Included were vast quantities of much-needed weapons and ammunition meant for the frontlines - which Kyiv had been desperately calling for for months.
So how have they impacted the war?
Nichita Gurcov, Eurasia analyst for Armed Conflict Location & Event Data Project (ACLED) told Sky News it may actually have pushed Moscow to act quickly and launch fresh attacks.
"It may have prodded Russia to step up its offensive to claim as much ground as possible, before the arriving weapons make it harder," he says.
Russia resumed its offensive in October last year after fending off the latest Ukrainian attempt to cut the land corridor to Crimea, Gurcov explains.
"By mid-February [this year] Russia secured the Avdiivka stronghold and has been since pressing toward Ukrainian logistical hub in Pokrovsk," he said.
ACLED has counted the number of settlements gained by Russia in each month of the conflict.
Five were taken in February, but just two in March.
In April (the month the US aid package was announced), seven settlements were captured, followed by nine in May and 11 in June - highlighting a clear increase in Russian offensive action.
"The sharp increase in the number of claimed settlements in May is due to the Russian re-invasion of the northern Kharkiv region," Gurcov explains.
"It could have pursued - diverting Ukrainian forces from elsewhere - but so far has been contained," he adds (see 11.40am post).
Another indicator of increased fighting is the number of reported battles, according to ACLED:
"The sharp increase in fighting in April and the subsequent near-50% increase in May is an all-time high since the invasion," Gurcov notes.
"The spike is only partially due to the re-invasion of the Kharkiv region as we are recording steadily intensifying offensive in the Donetsk region," he adds.
Closing arguments in the trial of Wall Street Journal reporter Evan Gershkovich will be heard in a Russian court tomorrow.
Mr Gershkovich attended a trial session for a second day behind closed doors today - more in our 8.10am post on that.
The 32-year-old was arrested in March last year while on a reporting trip. Authorities claimed, without offering any evidence, that he was gathering secret information for the US - which he, his employer and his government all vehemently deny.
Russia will not rule out new deployments of nuclear missiles in response to the planned US stationing of long-range conventional weapons in Germany, Moscow's deputy foreign minister Sergei Ryabkov has said.
Russia regularly threatens Europe and the US with the nuclear option in public.
"I am not ruling out any options," the Interfax news agency said he told reporters in the Russian capital when asked to comment on the US deployment plans.
Washington said last week it would start deployment in Germany from 2026 of weapons that will include SM-6, Tomahawk and new hypersonic missiles in order to demonstrate its commitment to NATO and European defence.
Interfax cited Mr Ryabkov as saying that the defence of Russia's Kaliningrad region, which is wedged between NATO members Poland and Lithuania, was a particular focus.
"Kaliningrad is no exception in terms of our 100% determination to do everything necessary to push back those who may harbour aggressive plans and who try to provoke us to take certain steps that are undesirable for anyone and are fraught with further complications," Mr Ryabkov said.
Readers have been sending in their questions to our senior correspondents and military experts for their take on the changing battlefield environment in Ukraine.
Today, Ross Tregembo asks:
Is there a possibility of internal dissent within Putin's inner circle leading to his removal from power?
Moscow correspondent Ivor Bennett replies:
"Not right now, no. This seems extremely unlikely for a number of reasons.
"Firstly, Vladimir Putin has just started a new presidential term, keeping him in the Kremlin for another six years.
"The potential political jeopardy of an election has evaporated and his approval ratings are near record highs (85% according to the independent Levada Center), helped by Russia gaining the upper hand on the battlefield in Ukraine.
"So there's no overt public support for a change at the top.
"Secondly, who would succeed him? His refusal to pick a successor all these years has been deliberate, and a key factor in preserving his power.
"Thirdly, his potential rivals are focused elsewhere.
"Look at what’s happening at the ministry of defence and the series of corruption scandals. By replacing his long-time ally Sergei Shoigu as minister of defence, Putin seemed to open the doors to a full-on purge of the military’s top brass.
"Analysts say this was a deliberate ploy to play his rivals off against each other - security services vs the military. By doing that, they're less likely to take a shot at him.
"Yes, it's only been a year since his authority was challenged like never before, with the Prigozhin-led uprising. But fast-forward 12 months and his grip on power appears stronger than ever."
A Russian court has sentenced US citizen Michael Travis Leake to 13 years in prison on drug smuggling charges, the court service has said in a statement.
Mr Leake, a musician and former US paratrooper - who was arrested in June 2023 - was found guilty of selling drugs on a large scale, the court service said.
It was not clear how he pleaded.
He is one of about a dozen Americans currently held in Russian detention - alongside Wall Street Journal reporter Evan Gershkovich, whose trial continued today (see 8.10am post).
Another American, Robert Romanov Woodland, was sentenced by a Russian court to 12-1/2 years for drug smuggling earlier this month.
European Commission President Ursula von der Leyen's desire to create "a true European Defence Union" if she is re-elected shows the mood in Europe is one of militarisation and confrontation, the Kremlin has said.
Kremlin spokesman Dmitry Peskov said the plans reflected Ms von der Leyen's "changing priorities" and said her proposals gave a "military colouring" to the EU.
Mr Peskov told reporters that her proposal "confirms the general attitude of European states to militarisation, escalation of tension, confrontation and reliance on confrontational methods in their foreign policy".
"Everything is quite obvious here," he added.
One more line to bring you from Volodymyr Zelenskyy's address at Blenheim Palace - concerning Russia's progress in northern Kharkiv.
When trying to convince leaders to help with Kyiv's air defence capability, the president said Ukraine had halted Moscow's forces completely.
"We have stopped the Russian advance on Kharkiv - period," he said.
"Putin has sacrificed tens of thousands of his citizens but has achieved nothing significant," he added.
"This was made possible by the bravery of our warriors and the bravery of our partners, who have lifted limitations on the use of Western weapons along our border," he added.
Russia launched a surprise attack on Vovchansk in the Kharkiv region in May, opening up another front for Ukraine to defend.
Moscow's troops made rapid progress in the days immediately after the incursion, before being slowed by a stubborn Ukrainian resistance.
Reports earlier in the week that Russian operations were winding down in the area resulted in Kremlin spokesman Dmitry Peskov denying the claims yesterday.
"This operation is ongoing, it will continue until it has been successfully completed," he told reporters.
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IMAGES
COMMENTS
Authorities in Italy seized a 215-foot superyacht called the Lady M this month. It's owned by Alexei Mordashov, Russia's richest businessman, and it's estimated to be worth $27 million. The ...
Giuliano Berti/Bloomberg/Getty Images. The Italian financial police seized Russian billionaire Gennady Timchenko's yacht, named "Lena," in the port of San Remo, according to a police ...
June 27, 2022 / 3:40 PM EDT / CBS/AP. A $325 million superyacht seized by the United States from a sanctioned Russian oligarch arrived in San Diego Bay on Monday. The 348-foot-long (106-meter-long ...
Phi. Worth $50 million, Phi was seized by the UK after mooring in London for an awards ceremony. The National Crime Agency did not reveal the name of the owner but mentioned it belongs to a ...
German authorities said they have seized the world's largest superyacht following official confirmation that the vessel had links to Russian billionaire and business tycoon Alisher Usmanov. The ...
Russian oligarch Andrey Melnichenko's yacht was seized Friday, Italian authorities said. Sailing Yacht A is the world's largest sailing yacht at around 469 feet long and has eight decks.
France seized Amore Vero, a 281-foot megayacht linked to oligarch and politician Igor Sechin, on March 3. The yacht, Amore Vero, is estimated to have a value of $120 million. It has a swimming ...
Data: Axios research; Table: Will Chase/Axios. More than a dozen yachts owned by sanctioned Russian oligarchs have been seized — or identified for seizure — since the invasion of Ukraine began, according to public reports reviewed by Axios. Why it matters: The fleet of yachts impounded around the world so far is worth more than $2.5 billion.
Yachts, villas owned by Russian oligarchs seized as crackdown continues. "The oligarchs could reasonably argue 'I acted within the laws that were in place in Russia and in Europe ...
Since last week Italian police have seized villas and yachts worth more than 700 million euros ($763.63 million) from high-profile Russians who have been placed on the EU sanctions list, Economy ...
As of April 2023, Forbes estimates that Western countries have frozen or seized at least 15 billionaire-owned yachts, 11 jets and helicopters and 124 homes worth a total of $9 billion. That's ...
It has two helipads and the largest yacht pool ever built, and it can accommodate 36 guests and 96 staff. And this week, it was impounded by German authorities for its ties to a Russian oligarch.
The Amore Vero yacht at a shipyard in La Ciotat, in southern France, on March 3, 2022. But a yacht management company associated with the ship denied Sechin owned it. "I can absolutely say that ...
In August 2021 — about six months before Russia's Ukraine invasion — Russians owned the second-largest share of yachts over 40 meters in length, according to a report from the industry ...
That works out to about 103,555 gallons, so it could cost $766,307 or so just to fill up. A $325 million 350-foot yacht owned by a sanctioned "beneficiary of Russian corruption" was put into port ...
Information you can trust. Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Ukraine is urging global companies to relocate from Russia to its war-stricken neighbor, as Moscow continues to seize the assets of foreign companies.
Saudi Arabia warned it could sell off some European debt holdings in retaliation to a move by the G-7 to seize almost $300bn in frozen Russian assets, according to a report by Bloomberg.. The ...
(Reuters) - Ukraine's navy said on Monday that Moscow's last naval patrol ship had left Russian-occupied Crimea, "most likely" to rebase elsewhere after Kyiv's concerted military campaign to ...
In April this year, the US finally approved a long-awaited aid package worth some $60.8bn (£49bn) in aid to Ukraine. Included were vast quantities of much-needed weapons and ammunition meant for ...
The United States has a score of 69 and ranks 24 out of 144 countries — better than both Russia and Ukraine but behind much of Western Europe. And about the yachts. Rumors that Ukrainian President Volodymyr Zelenskyy has bought yachts is a Russian disinformation plot that has been picked up by members of the U.S. Congress.