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Italian Police Seize Russian Oligarch Andrey Melnichenko’s 468-Foot ‘Sailing Yacht A’

The list keeps growing with the impoundment of "sailing yacht a" and suspicion that "scheherazade" might be connected to vladimir putin., michael verdon, michael verdon's most recent stories.

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Italy’s finance police seized one of the world’s most iconic sailing yachts, owned by a Russian oligarch. Andrey Melnichenko’s Sailing Yacht A , with an estimated value of $578 million, was impounded in dry dock at the Port of Trieste, according to a statement from the Guardia di Finanzia. Melninchenko was sanctioned by the European Union on March 9 as part of a group of Russian oligarchs who met with Russian President Vladimir Putin following its Ukraine invasion to discuss the potential economic impact of EU and American sanctions.

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Melnichenko owns the major fertilizer producer EuroChem Group and SUEK, a coal company. He also owns the 390-foot Motor Yacht A. A spokesperson said in a statement that Melnichenko has nothing to do with politics and that he has removed himself from the board of Eurochem and SUEK after the EU sanctioned him. “He has no relation to the tragic events in Ukraine. He has no political affiliations,” said the statement.

US intelligence officials have also said they are trying to link the Scheherazade , a $700 million superyacht in dry dock in Italy, to Putin. The New York Times reported that the US government has made no definite conclusions about the yacht’s ownership, but believe it could be owned by the Russian president. The yacht’s captain, Guy Bennett-Pearce, told the Times that Putin had no stake in the yacht, but declined to name the owner. Bennett-Pearce said he would provide Italian police with documents that divulged the owner’s name. The Italian Sea Group, which owns the shipyard where Scheherazade is dry docked, said that, based on “checks carried out by relevant authorities,” the yacht is “not attributable to the property of Russian President Vladimir Putin.”

Roman Abramovich, who owns Solaris. last week was placed on the UK sanctions list.  Courtesy of Lloyd Werft

Chelsea FC owner Roman Abramovich was also added to the UK sanctions list days after he announced the sale of the football club. Abramovich, who owns a string of supercars and several private jets, also owns the superyachts Solaris and Eclipse. Solaris is reportedly sailing towards Israel, where Abramovich has dual citizenship.

On March 3, France’s finance ministry said that it had impounded Amore Vero , a yacht owned by Igor Sechin, CEO of Russian oil giant Rosneft. The EU had sanctioned Sechin earlier that week, calling him one of Putin’s “most trusted and closest advisors, as well as his personal friend.” German authorities also detained the 512-foot superyacht Dilbar in Hamburg, owned by Alisher Usmanov. Reports said the crew was fired last week. On March 5, Italian authorities impounded two yachts, Lena and Lady M , owned by Gennady Timchenko and Alexei Mordashov, respectively.

On Friday, the US State Department placed Viktor Vekselberg on its sanctions list. Two of Vekeselberg’s luxury assets, an Airbus A319-115 jet and his yacht Tango , were identified as “blocked property.”

The superyacht Scheherazade was impounded in Italy during an investigation to uncover whether it is owned by Russian President Vladimir Putin.  Video Still/YT

The seizures have prompted the superyacht industry to distance itself from the oligarchs. Italian yacht builders Sanlorenzo and Azimut both released statements that they have limited exposure to Russian clients, and none are on the sanctions list. Heesen Yachts released a statement that two Russians sitting on its supervisory board of directors have resigned their positions. The builder said Heesen is 100-percent Dutch-owned company and that Pavel Sukhoruchkin and Pavel Novoselov had nothing to do with its day-to-day operations.

Ownership of many Russian yachts is often hidden by shell companies in tax havens like the Cayman Islands. They are not only hard to trace, but actually seizing and selling them could present a legal quagmire that could take years to resolve.

Some are wondering whether seizing the oligarchs’ private yachts and jets will work. “Sanctions are another example of the West doing what it does best, which is just throwing a lot of cash at the problem and hoping it gets solved,” Olga Chyzh, a professor of political science at the University of Toronto, told the Washington Post. “However sad they are to let go of their Western assets, oligarchs have even more to lose if Putin is no longer there to protect them.”

Eclipse is another yacht owned by Roman Abramovich.  Robb Report File

In the meantime, some oligarchs are taking their yachts to destinations like the Maldives , the Seychelles and Dubai, which have no extradition treaties with the US and EU. Dubai has become a favorite destination for Russian tourism and wealth.

Alex Finley, a former CIA officer, has been tracking the yachts from Barcelona. Using the hashtag “Yacht Watch,” she posts updates on Twitter for Russian-owned superyachts.

“For me, the yachts are a big, easily recognizable symbol of the more serious side of this [Russian invasion]: These are people who support a dictator, and have been supporting him in carrying out destabilization operations against democracy, while at the same time coming here and taking all the benefits of the exact same democracies they were destabilizing,” Finley told the Washington Post.

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From yachts to lavish estates, tracking Russian assets seized so far

By Tal Yellin , CNN

Published April 13, 2022

Updated April 27, 2022

Countries are on the hunt for sanctioned Russian assets after Russia’s invasion of Ukraine in February. Thousands of Russians have since been sanctioned by the United States, the European Union, and the United Kingdom, among others. Superyachts and multimillion-dollar properties have already been seized or frozen by authorities in Italy, France, Spain, the UK and Gibraltar. The United States has also launched KleptoCapture, a task force focused on those who violate sanctions and the seizing of their assets.

This interactive will continue to track known developments and help show where sanctioned Russians park their money outside of Russia. Except for Igor Sechin and Sergei Chemezov, no other oligarchs or related persons mentioned in this story responded to requests for comment from CNN.

Real estate

Other assets

April 14, 2022

“dilbar”  linked to    alisher usmanov   valued at $600-$750 million in hamburg, germany.

Germany has impounded the “Dilbar,” a superyacht connected to a Russian oligarch in Hamburg, the country’s embassy in the US tweeted . The yacht belongs to the sister of Alisher Usmanov and is worth between $600 to $750 million, according to the German Federal Criminal Police Office. Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating Usmanov is alleged to have “financial ties” to Putin. In March, Italy’s financial police seized his real estate and assets worth about $90 million. Usmanov has also been sanctioned by the European Union.

April 12, 2022

Assets  linked to    roman abramovich   valued at over $7 billion in jersey.

Authorities in the Channel island of Jersey froze more than $7 billion worth of assets “suspected to be connected to” Russian billionaire Roman Abramovich, according to a government statement . The frozen assets are either located in Jersey or owned by Jersey incorporated entities, the statement said. The States of Jersey Police also executed search warrants on premises “connected to the business activities” of Abramovich. Abramovich made his fortune in steel and investments and was sanctioned by the UK in March, citing his decades-long relationship with Vladimir Putin. In a statement at the time , the UK government noted that “he is one of the few oligarchs from the 1990s to maintain prominence under Putin.” These frozen assets represent around half his net worth, according to the Bloomberg Billionaire Index .

April 11, 2022

Properties  linked to    nikita mazepin   valued at $114.3 million in sardinia, italy.

A real estate compound, “Rocky Ram,” linked to Nikita Mazepin and his oligarch father Dmitry was seized in Sardinia, the Italian financial police confirmed in a statement. The police said the properties are worth 105 million euros (about $114.3 million). Nikita, a former Formula 1 Haas team driver, and his father were included on a list of individuals sanctioned by the EU in early March. The sanction list described Mazepin Sr. as “a member of the closest circle of Vladimir Putin” saying he and 36 other ”businesspeople” met with Putin and other government officials to discuss how sanctions would affect Russia. In early March, Mazepin Sr. sold his controlling stake in Uralchem Group, one of the largest producers of nitrogen and phosphate fertilizers in Russia, and resigned as CEO from Uralchem JSC, a subsidiary, according to a company statement .

April 7, 2022

Assets  linked to    sanctioned russians   valued at $7.83 billion in switzerland.

Switzerland has so far frozen 7.5 billion Swiss francs (about $7.83 billion) of sanctioned Russian assets, according to a State Secretariat for Economic Affairs (SECO) spokesperson. The number of frozen assets increased from March 24, when 5.75 billion Swiss francs (about $6.18 billion) were initially frozen. Frozen assets include 11 properties throughout Switzerland. No identifiable information was revealed and no specific assets were mentioned in the initial statement. After Russia’s invasion of Ukraine, Switzerland broke from traditional neutrality and adopted EU sanctions.

April 5, 2022

Assets  linked to    sanctioned russians   valued at $3 billion in belgium.

Belgian authorities have frozen $3 billion in Russian assets and blocked $215 billion in transactions since the start of economic sanctions, according to Belgian Minister of Finance Vincent Van Peteghem. The frozen assets belong to 877 individuals and 62 entities on the European sanctions list, according to the statement from the Belgian Finance Ministry. The blocked transactions are the result of other restrictions imposed by the European Union on Russia.

April 4, 2022

“tango”  linked to    viktor vekselberg   valued at $90 million in mallorca, spain.

Spanish authorities seized a superyacht named “Tango,” which they say is owned by Russian oligarch Viktor Vekselberg in Mallorca, according to a statement from the Spanish Civil Guard. The detained yacht was part of an operation with US federal agents and was carried out under a Spanish court order, the statement said. Vekselberg runs the Russian investment company Renova Group. He is worth approximately $16.5 billion, according to the Bloomberg Billionaires Index. He was sanctioned by the United States and is “under investigation for tax fraud, money laundering and document forgery trying to hide the ownership of this superyacht to avoid sanctions” and is “very close to (Russian President) Vladimir Putin,” the Spanish Civil Guard said. Vekselberg’s case marks the first seizure for the newly formed US task force, KleptoCapture. The yacht is 78 meters long (about 256 feet) and is valued at nearly $90 million, per the US Department of Justice.

March 29, 2022

“phi”  linked to    a russian businessman   valued at $50 million in london, england.

The United Kingdom detained the “Phi” yacht belonging to an unnamed-Russian businessman with ties to Russian President Vladimir Putin and the Russian regime, according to the UK Department for Transport. The Dutch-built vessel is docked in East London’s Canary Wharf for the superyacht awards, and was planning to depart March 29. The Department of Transport claims that the ownership of the boat was “deliberately well hidden.” It sails under the Maltese flag and is registered to a company based in the Caribbean islands of St. Kitts and Nevis. The 192-foot yacht is worth approximately £38 million (about $50 million).

March 23, 2022

Assets  linked to    sanctioned russians   valued at $800 million in france.

French authorities have frozen assets linked to sanctioned Russian oligarchs valued at $800 million, according to French government spokesperson Gabriel Attal. The European Union’s latest round of sanctions in early March against Russia included measures targeting 160 oligarchs and Russian politicians. “There will be no taboo if we need to go further,” Attal said about any additional sanctions.

March 22, 2022

Assets  linked to    sanctioned russians   valued at $431 million in the netherlands.

The Netherlands has frozen nearly 392 million euros (about $431 million) in Russian assets, the Dutch Ministry of Finance told parliament in a letter seen by CNN. The ministry said that further asset freezes were expected. The European Union’s latest round of sanctions in early March against Russia included measures targeting 160 oligarchs and Russian politicians.

March 21, 2022

“axioma”  linked to    dmitry pumpyansky   valued at $75 million in gibraltar.

Authorities in Gibraltar have detained the “Axioma” yacht linked to Russian billionaire Dmitry Pumpyansky, according to UK and Gibraltar government statements. Pumpyansky was sanctioned by the EU and UK and was the beneficiary of TMK PAO, Russia’s largest oil and gas steel pipe maker. He also resigned from the TMK PAO’s board of directors, the company announced . The 240-foot yacht is worth approximately $75 million, according to SuperYachtFan . Gibraltar’s ports had been closed to sanctioned individuals, but the Captain of the Port made an exception after JPMorgan Chase was granted a court order authorizing the seizure. “JPMorgan is acting pursuant to its mortgage rights,” the Gibraltar government said in a statement to CNN. JPMorgan Chase, the largest bank in the United States, said in a statement in early March it was getting out of Russia following the invasion of Ukraine, citing “compliance with directives by governments around the world.”

March 18, 2022

Real estate  linked to    alexey mordaschov   valued at $116 million in sardinia, italy.

The Italian financial police seized a real estate complex belonging to Russian billionaire Alexey Mordaschov in Sardinia, according to Italy’s Prime Minister’s office. Mordaschov is the chairman of Russian mining and steel company Severstal and is one of Russia’s richest men, worth $18.5 billion, according to Forbes . The frozen real estate is worth around 105 million euros (about $116 million), per Ferdinando Giugliano, the media advisor to the Italian Prime Minister. On March 4, Mordaschov’s yacht, named “Lady M” was also seized in Italy. The 213-foot yacht is worth approximately 65 million euros (about $71 million).

March 16, 2022

“crescent”  linked to    an unknown owner   valued at $600 million in tarragona, spain.

Spanish authorities have detained a superyacht, named “Crescent” in the port of Tarragona, according to a statement from Spain’s Ministry for Transport. The 135-meter yacht flies a Cayman Islands flag and has been “provisionally detained” to establish whether it is the possession of a person or entity included in the European Council’s package of sanctions, the statement said. The yacht cost approximately $600 million, according to SuperYachtFan.

Real estate  linked to    Petr Aven   valued at $4.4 million in Sardinia, Italy

The Italian financial police froze a real estate complex belonging partially to Russian oligarch Petr Aven in Sardinia, according to a statement issued by Prime Minister Mario Draghi’s press office. The share of real estate is worth approximately 4 million euros (about $4.4 million), according to the Italian Prime Minister’s office. The billionaire stepped down earlier this month as Director of Russian private bank Alfa Bank and from the board of the investment firm he co-founded, LetterOne, after being sanctioned by the EU and UK . The European Union named Aven as “one of Vladimir Putin’s closest oligarchs,” who “regularly meet” with the Russian President in the Kremlin, and “does not operate independently of the President’s demands.”

Real estate and vehicles  linked to    Alisher Usmanov   valued at $72 million in Italy

Real estate assets and six corporate vehicles belonging to Russian oligarch Alisher Usmanov were seized by the Italian financial police. The seized assets are worth approximately 66 million euros (about $72 million). Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating he is alleged to have financial ties to Putin. Italy’s financial police had previously seized his real estate in the Golfo del Pevero area in Arzachena on March 4. Those assets are worth approximately 17 million euros (about $18 million).

March 15, 2022

“lady anastasia”  linked to    alexander mikheev   valued at $7 million in palma de mallorca, spain.

Spanish authorities have detained a yacht linked to Russian oligarch Alexander Mikheev, named “Lady Anastasia,” in the port of Palma de Mallorca, according to the Spanish Ministry of Transport. Mikheev is the CEO of Rosoboronexport, the only state organization in Russia that exports weapons and was sanctioned by the EU and the US. The yacht is nearly 48 meters (157 feet) long and was in the news in late February, when a crew member tried to sink the vessel in retaliation for Russia’s invasion of Ukraine. The yacht is worth approximately $7 million, according to a listing on BOAT International.

“Valerie”  linked to    Sergei Chemezov   valued at $140 million in Barcelona, Spain

Spanish authorities seized the “Valerie” yacht reportedly linked to Russian oligarch and former KGB agent Sergei Chemezov in the port of Barcelona, according to Reuters . Chemezov is the chairman of the Rostec conglomerate and a member of the Supreme Council of ‘United Russia’, per EU sanctions . When the US sanctioned Chemezov in 2014 — as part of an effort targeting Putin’s inner circle — the government said he had known Putin since the 1980s and the two lived in the same apartment complex in East Germany. The yacht is worth approximately $140 million and will remain “provisionally immobilized” until authorities can determine its ownership. A spokesman for Chemezov denied that he is tied to the yacht.

March 11, 2022

“sailing yacht a”  linked to    andrey melnichenko   valued at $577 million in trieste, italy.

The Italian financial police seized “Sailing Yacht A” — which could be linked to Russian fertilizer and coal billionaire Andrey Melnichenko — in the port of Trieste, according to Ferdinando Giugliano, the media advisor to the Italian Prime Minister. Melnichenko was sanctioned by the EU on March 9 and has since removed himself from the boards of two companies he founded, Eurochem and SUEK, according to his spokesman Alex Andreev in a statement to CNN. At 469 feet long, the vessel is also the world’s tallest sailing yacht — taller than the Statue of Liberty — and is worth approximately 530 million euros (about $577 million).

March 4, 2022

“villa lazzareschi”  linked to    oleg savchenko   valued at $3.3 million in lucca, italy.

A 17th century villa allegedly owned by Oleg Savchenko, named “Villa Lazzareschi,” was seized by Italian financial police in the province of Lucca, according to a police statement . Savchenko is a member of the State Duma and was sanctioned by the EU. The seized Italian villa is worth approximately 3 million euros (about $3.3 million).

Real estate  linked to    Vladimir Soloviev   valued at $8.7 million in Como, Italy

Real estate properties belonging to Vladimir Soloviev were seized by the Italian financial police in the province of Como, according to a police statement . Soloviev is a Russian pro-Kremlin propagandist and TV/radio journalist, according to EU Council sanctions . The frozen Italian real estate is worth approximately 8 million euros (about $8.7 million).

Real estate  linked to    Alisher Usmanov   valued at $18 million in Arzachena, Italy

A real estate compendium belonging to Russian oligarch Alisher Usmanov was seized by the Italian financial police in the Golfo del Pevero area in Arzachena, according to a statement . The frozen Italian real estate is worth approximately 17 million euros (about $18 million).

Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings, according to the US Treasury. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating he is alleged to have financial ties to Putin. The US said it sanctioned his private jet and his 512-foot superyacht named “Dilbar.”

“Lena”  linked to    Gennady Timchenko   valued at $55 million in San Remo, Italy

The Italian financial police seized Russian billionaire Gennady Timchenko’s yacht, named “Lena,” in the port of San Remo, according to a police statement . Timchenko is the owner of private investment group, Volga Group. He was sanctioned by the EU in February. When the US government sanctioned Timchenko in 2014, an effort targeting Putin’s inner circle, they stated his “activities in the energy sector have been directly linked to Putin.” The 126-foot yacht is worth approximately 50 million euros (about $55 million).

“Lady M”  linked to    Alexey Mordaschov   valued at $71 million in Imperia, Italy

The Italian financial police seized Russian billionaire Alexey Mordaschov’s yacht, named “Lady M,” in the northern port of Imperia, according to a police statement . Mordaschov is the chairman of Russian mining and steel company Severstal and is one of Russia’s richest men, worth $18.5 billion, according to Forbes . The 213-foot yacht is worth approximately 65 million euros (about $71 million).

March 3, 2022

“amore vero”  linked to    igor sechin   valued at $120 million in la ciotat, france.

French authorities seized a yacht linked to Igor Sechin in the Mediterranean port of La Ciotat, according to the French Finance Ministry . Sechin is the CEO of Rosneft, the Russian state oil company and one of the world’s largest crude oil producers. The yacht, named “Amore Vero” — or “True Love” in Italian — was scheduled to leave the port on April 1 after arriving in January. Sechin was deputy prime minister of Russia from 2008 until 2012. The European Union said his connections to Putin are “long and deep,” with the two men maintaining daily contact. The yacht is worth about $120 million, according to SuperYachtFan. A Sechin spokesman denied that he is tied to the yacht.

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The U.S. Seizes a Russian Oligarch Yacht

Here’s all the boats taken so far..

In early March, a European vogue for seizing Russian oligarch yachts swept the world. And then the fad stopped — until now . This morning, observers reported Spanish police and the FBI entering Tango , a yacht docked in the stunning harbor of Palma de Mallorca. Tango is owned by Viktor Vekselberg , a friend of Russia’s president, Vladimir Putin. Here, to our knowledge, are all the boats seized so far in response to Russia’s invasion of Ukraine .

Owner : Viktor Vekselberg. Seized by : The United States, in its first high-seas adventure, in cooperation with Spanish authorities, who have become experts in the taking of big boats. The U.S. sanctioned “Kremlin insider” Vekselberg, who has a U.S. green card and residences in the New York City area, in early March. It’s also after his plane, an Airbus A319. On: ~ April 4. Current location: Palma de Mallorca, Spain.

Owner: Vladimir Strzhalkovsky. Seized by: It’s not technically seized, and its owner is not on the E.U. sanction list even. But the big sleek boat is in Norway and everyone is refusing to give it fuel . So it’s … stranded? Beached? On: March 16. Current location: Narvik.

Owner: Igor Sechin, most probably (people like to say Putin owns this boat, is why we say that). Former Putin deputy and former head of Russian state oil company; also, he’s single! Seized by: Spain. On: Possibly March 4, but widely announced March 16. Current suspected location: Tarragona , Catalonia.

Lady Anastasia

Owner: Alexander Mikheyev. Runs the helicopters division of a subsidiary of Rostec; the yacht just survived an attack last month by a Ukrainian sailor. He told the crew to abandon ship and then tried to sink it. “I don’t regret anything I’ve done,” he said. ( He was arrested .) Seized by: Spain. On: March 15. Last location: Calvia, a Mallorca marina.

Owner: Sergei Chemezov. KGB man, Putin pal from Dresden, CEO of Rostec; barred from entering the U.S. since 2014 (whom among us). Seized: March 14. By: Spain. Location: Barcelona.

Sailing Yacht A

Owner: Andrey Melnichenko. Made his riches in banking and fertilizer; certainly a billionaire; once hired Jennifer Lopez to do a private concert for his wife’s birthday. Has another extremely large boat, the Motor Yacht A , which we’re keeping an eye on. Seized: ~ March 11 . By: Italy. Suspected current location: Trieste.

Owner: Alexei Mordashov. They like to call him Russia’s richest man, because he probably is (we say “probably” because Putin kind of owns everything); has another very nice boat, Nord , but it’s in Seychelles, where it won’t be grabbed … at this time. Seized by: Italy. On: ~ March 4. Suspected current location: Imperia.

Owner: Igor Sechin. Sometimes you need two boats, after all. (Then you have none.) Seized by: France. On: March 3. Current location: La Ciotat.

Owner: Gennady Timchenko. When your friend (Putin) gives you a license to enrich yourself in the oil trade, what could go wrong? Besides being sanctioned since 2014 . Seized by: Italy. On: ~March 5. Current location: Sanremo.

Owner: Alisher Usmanov. Seized by: Germany. On: March 3 (?). Current location: Hamburg? Status: Dilbar is either seized or frozen; at the very least, the staff ( 96 of them ) wasn’t able to be paid and so the boat is effectively impounded no matter what.

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Russian oligarch’s $300 million yacht seized by Fiji on behalf of U.S.

The $300 million superyacht owned by Russian oligarch Suleyman Kerimov was seized Thursday by Fijian authorities on behalf of the United States as part of the ongoing efforts to sanction and punish Russia’s elite in response to the invasion of Ukraine.

On Friday, Italian financial authorities said they have frozen a $700 million megayacht that has been linked in media reports and by anti-Kremlin groups to Russian President Vladimir Putin.

The Justice Department announced that Fiji executed a seizure warrant on the Amadea, a 348-foot-long luxury vessel that authorities say was “subject to forfeiture based on probable cause of violations of U.S. law.” Kerimov, one of Russia’s wealthiest individuals, who built his fortune in gold mining and is a political ally of Putin, has been identified by the U.S. Treasury Department as an official of the government of the Russian Federation and a member of the Russian Federation Council.

Amadea was owned by Kerimov at the time of his sanctioning by the United States, Britain and the European Union in early March, authorities say in the seizure warrant , and U.S. financial transactions were routed through U.S. banking institutions by him and associates of his for maintenance of the vessel. Kerimov is among the Russian oligarchs who have been sanctioned during Russia’s war in Ukraine for profiting “from the Russian government through corruption and its malign activity around the globe,” according to the Justice Department.

“Last month, I warned that the department had its eyes on every yacht purchased with dirty money,” Deputy Attorney General Lisa Monaco wrote in a statement. “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.”

Attorney General Merrick Garland echoed Monaco’s sentiments on Russian oligarchs, saying, “There is no hiding place for the assets of individuals who violate U.S. laws.”

“And there is no hiding place for the assets of criminals who enable the Russian regime,” he said in a statement.

Nikita Sichov, a lawyer in Cannes, France, whose firm represents Kerimov, did not immediately respond to a request for comment Thursday.

Feizal Haniff, a lawyer representing Millemarin Investments, the company to which the luxury ship is registered, did not immediately respond to a request for comment. Haniff has argued in court in Fiji that Amadea’s owner is not Kerimov but Eduard Khudainatov, a former executive at Rosneft, Russia’s state-owned oil company, who is not under sanction, according to CBS News .

Putin allies have tried to find safe waters for their superyachts during the war. In March, the French Finance Ministry announced it had seized the Amore Vero, the $120 million, 281-foot-long superyacht owned by the Russian oligarch Igor Sechin. Other yachts owned by Russian oligarchs have been docked around the world, and some have been on the move to avoid being detained or seized.

In announcing the freeze of the yacht, known as the Scheherazade, on Friday, Italy’s finance ministry said the vessel’s owner had “prominent” links with Russians already under European Union sanctions. The name of the owner was not specified, and Italy only said its government had asked the E.U. to add the person to its sanctions list.

The move comes after Italian investigators had raced to investigate the vessel and prevent it from leaving the Tuscan port of Marina di Carrara, where the yacht had been undergoing repairs since before the war.

In March, an investigation by the Italian daily La Stampa named the boat’s owner as Khudainatov. But the newspaper also raised a question about how somebody not listed as a billionaire could afford to purchase one of the world’s most luxurious yachts.

Investigators working for jailed Russian opposition politician Alexei Navalny say the yacht’s owner is Putin himself. In March, Navalny’s team published what it said was the crew list of people who had worked on the yacht. They purportedly include members of the Russian state agency responsible for Putin’s personal protection.

Italy had earlier frozen a $560 million megayacht connected to Andrey Melnichenko, a coal and fertilizer tycoon who is one of Russia’s 10 richest people. Italy has also frozen villas that oligarchs use as summer getaways.

As part of a $33 billion spending package unveiled last week that would provide military and humanitarian aid to Ukraine, President Biden proposed liquidating the seized assets of Russian oligarchs and donating the proceeds to Ukraine. The president’s proposal would require broad new legal powers, but Biden suggested that he saw a powerful symbolism in the move.

“We’re going to seize their yachts, their luxury homes and other ill-begotten gains,” he said.

Biden seeks a dramatic increase in aid for Ukraine

The White House did not release details of the proposal but noted that it would improve the government’s ability to send seized funds to Ukraine. Under current law, the United States typically can only freeze — not seize or liquidate — the assets of sanctioned individuals. Russian officials have vowed to retaliate against the White House move and have urged the affected oligarchs to take legal action.

Considerable hurdles remain for the United States in effecting sanctions on Russian oligarchs . Gaping holes in wire transactions — which now reside in a database maintained by the Treasury Department — underscore how difficult it is to locate, let alone freeze, Russian-connected assets that have been moved into offshore accounts over the past decade.

Pandora Papers: U.S. Hunt for Russian oligarchs' huge fortunes faces barriers offshore

Kerimov, 56, was listed by Forbes as Russia’s richest man two years ago, but his fortune has shrunk since then. Nevertheless, it remains considerable at about $13 billion, according to Forbes.

Amadea, which was built in 2016 by the German shipyard Lürssen, can accommodate 18 guests and 36 crew members, and its amenities include a large swimming pool, a Jacuzzi, a helicopter landing platform and a winter garden on the sun deck, according to Superyacht Fan , a website tracking luxury yachts.

Kerimov was first put under sanctions by the United States in 2018. Britain and the E.U. followed suit last month as part of a global crackdown in response to Russia’s invasion of Ukraine.

The seizure of the superyacht was coordinated through the Justice Department’s Task Force KleptoCapture, which is dedicated to enforcing the sweeping sanctions, export controls, and economic countermeasures imposed by the United States and its allies, authorities say. Sometime after the yacht docked in Lautoka, Fiji, in April, local authorities, with a “mutual legal assistance request from the United States,” obtained a domestic seizure warrant from the Fijian court, according to the Justice Department.

Andrew Adams, the director of Task Force KleptoCapture, celebrated what he described as an “unprecedented, multinational series of enforcement actions against the Russian regime and its enablers.”

“This seizure of Suleiman Kerimov’s vessel, the Amadea, nearly 8,000 miles from Washington, D.C., symbolizes the reach of the Department of Justice as we continue to work with our global partners to disrupt the sense of impunity of those who have supported corruption and the suffering of so many,” Adams said in a statement.

Greg Miller, Bryan Pietsch, Missy Ryan, Jeff Stein, Matt Viser, Chico Harlan and Spencer Woodman contributed to this report.

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The day his $580 million yacht was seized, sanctioned Russian billionaire Andrey Melnichenko switched off the tracking transponders of his $300 million superyacht. Untraceable for more than 2 months now the vessel has a rotating bed, $40,000 bath knobs, and Baccarat-crystal tables.

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$90 Million Yacht of Sanctioned Russian Oligarch Viktor Vekselberg Seized by Spain at Request of United States

Note:  Footage of the seizure is available  here . View the statement from the Attorney General on today's seizure  here .

Spanish law enforcement today executed a Spanish court order freezing the Motor Yacht (M/Y) Tango (the Tango), a 255-foot luxury yacht owned by sanctioned Russian oligarch Viktor Vekselberg. Spanish authorities acted pursuant to a request from the U.S. Department of Justice for assistance following the issuance of a seizure warrant, filed in the U.S. District Court for the District of Columbia, which alleged that the Tango was subject to forfeiture based on violation of U.S. bank fraud, money laundering, and sanction statutes. Separately, seizure warrants obtained in the U.S. District Court for the District of Columbia target approximately $625,000 associated with sanctioned parties held at nine U.S. financial institutions. Those seizures are based on sanctions violations by several Russian specially designated nationals.

According to documents filed in this case, the U.S. investigation alleges that Vekselberg bought the Tango in 2011 and has owned it continuously since that time. It further alleges that Vekselberg used shell companies to obfuscate his interest in the Tango to avoid bank oversight into U.S. dollar transactions related thereto. Additionally, after Vekselberg was sanctioned by the U.S. Treasury Department on April 6, 2018, the warrant alleges that Vekselberg and those working on his behalf continued to make U.S. dollar payments through U.S. banks for the support and maintenance of the Tango and its owners, including a payment for a December 2020 stay at a luxury water villa resort in the Maldives and mooring fees for the yacht. Vekselberg had an interest in these payments and therefore a license was required from the Treasury Department, which was not obtained.

“Today marks our taskforce’s first seizure of an asset belonging to a sanctioned individual with close ties to the Russian regime. It will not be the last,” said Attorney General Merrick B. Garland. “Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war.”

“Today’s action makes clear that corrupt Russian oligarchs cannot evade sanctions to live a life of luxury as innocent Ukrainians are suffering,” said Deputy Attorney General Lisa O. Monaco. “Today the Department of Justice delivers on our commitment to hold accountable those whose criminal activity strengthens the Russian government as it continues to wage its unjust war in Ukraine. That commitment is one we are not finished honoring.”

“Today we announce another example of the FBI using our worldwide presence and partnerships, as well as our expertise and experience, to track and seize illicit money and assets, to counter threats to our safety and national security,” said FBI Director Christopher Wray. “We will continue to use every lawful tool to go after designated Russian oligarchs' assets – however and wherever they hide them.”

The seizure was coordinated through the Justice Department’s Task Force KleptoCapture, an interagency law enforcement task force dedicated to enforcing the sweeping sanctions, export restrictions, and economic countermeasures that the United States has imposed, along with its allies and partners, in response to Russia’s unprovoked military invasion of Ukraine. Announced by the Attorney General on March 2 and run out of the Office of the Deputy Attorney General, the task force will leverage all the Department’s tools and authorities against efforts to evade or undermine the economic actions taken by the U.S. government in response to Russian military aggression.

“The seizure of this luxury yacht demonstrates our determination to hold accountable those who support Vladimir Putin’s unwarranted invasion of another sovereign nation,” said U.S. Attorney Matthew M. Graves for the District of Columbia. “We will continue to use every tool to enforce the sanctions aimed at Putin’s regime and the oligarchs who support it.  Working with our federal and international partners, we will be unflagging in our efforts to bring to justice those who violate these sanctions, and to seize assets where appropriate and lawful.”

“Today’s seizure of Viktor Vekselberg’s yacht, the Tango, in Spain is the result of an unprecedented multinational effort to enforce U.S. sanctions targeting those elites who have enabled Russia’s unprovoked and illegal invasion of Ukraine,” said Director Andrew Adams of Task Force KleptoCapture. “For those who have tied their fortunes to a brutal and lawless regime, today’s action is a message that those nations dedicated to the rule of law are equally dedicated to separating the oligarchs from their tainted luxuries. This seizure is only the beginning of the Task Force’s work in this global effort to punish those who have and continue to support tyranny for financial gain.”

“The FBI will continue to work with its partners to protect the integrity of the banking system and support the enforcement of sanctions programs,” said Special Agent in Charge Michael F. Paul of the FBI’s Minneapolis Field Office. “FBI agents and analysts, regardless of where they are assigned around the world, will work tirelessly to ensure those who attempt to evade sanctions are held accountable.”

“The Russian invasion of Ukraine was an unprovoked act of aggression that has targeted the lives and well-being of millions of people and threatened international security,” said Acting Special Agent in Charge Ricky J. Patel of Homeland Security Investigations (HSI) New York.  “For decades, the Putin regime has been supported by a group of Russian oligarchs that abused their power for private gain to amass untold riches. As DHS’s investigative arm, HSI stands at the forefront of combatting global networks that seek to violate U.S. law and exploit our nation’s financial systems.  Working with our partners at the U.S. Department of Justice and the FBI, we will hold Putin’s oligarchs accountable and deny them the lavish lifestyles they cherish.”

Upon receipt of a request from the United States pursuant to a bi-lateral treaty for mutual legal assistance in criminal matters, the Spanish central authority for mutual legal assistance forwarded the request to a Spanish prosecutor, who obtained a freezing order from a Spanish court. The order was executed by Spain’s Guardia Civil on April 4.

The Tango, International Maritime Organization number 1010703, is believed to be worth approximately $90 million or more. The yacht is now in Mallorca.

The burden to prove forfeitability in a forfeiture proceeding is upon the government.

The matter of the Tango is being investigated by the FBI’s Minneapolis Field Office with assistance from the FBI Legal Attaché Office in Madrid and the HSI New York Field Office.

Assistant U.S. Attorney Karen P. Seifert for the District of Columbia and Paralegal Brian Rickers and Legal Assistant Jessica McCormick for the District of Columbia are handling the seizure. The Justice Department’s Office of International Affairs provided significant assistance in working with the Spanish authorities, as well as the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS).

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A russian oligarch's $90 million yacht is seized as part of u.s. sanctions.

A Civil Guard stands by the yacht called Tango in Palma de Mallorca, Spain, on Monday. U.S. federal agents and Spain's Civil Guard are searching the yacht owned by a Russian oligarch. Francisco Ubilla/AP hide caption

A Civil Guard stands by the yacht called Tango in Palma de Mallorca, Spain, on Monday. U.S. federal agents and Spain's Civil Guard are searching the yacht owned by a Russian oligarch.

Spanish officials have seized a Russian-owned luxury yacht in Mallorca at the request of the U.S. Department of Justice. It was the first coordinated seizure under the department's Task Force KleptoCapture, which is tasked with enforcing the sweeping sanctions placed on Russia in response to its invasion of Ukraine.

The $90 million 255-foot yacht, named Tango, is owned by sanctioned Russian oligarch Viktor Vekselberg, who heads the Renova Group, a Russian conglomerate with interests in metallurgy, machinery, energy, telecommunications as well as others.

"Today marks our taskforce's first seizure of an asset belonging to a sanctioned individual with close ties to the Russian regime. It will not be the last," said Attorney General Merrick Garland in a statement. "Together, with our international partners, we will do everything possible to hold accountable any individual whose criminal acts enable the Russian government to continue its unjust war."

The seizure was performed by Spanish Guardia Civil officers with assistance from the FBI.

U.S. officials allege that the Tango has been owned continuously by Vekselberg since 2011 and that he used shell companies to " obfuscate his interest in the Tango ," the Justice Department said in a press release.

The release cites alleges bank fraud and money laundering as justification for the seizure, highlighting U.S. bank payments for support and maintenance of the vessel — including a December 2020 stay at a luxury water villa resort in the Maldives.

• Justice Department

Russian oligarch's yacht costs U.S. taxpayers close to $1 million a month

A mega-yacht seized by U.S. authorities from a Russian oligarch is costing the government nearly $1 million a month to maintain, according to new court filings.

The U.S. Department of Justice is seeking permission to sell a 348-foot yacht called Amadea, which it seized in 2022, alleging that it was owned by sanctioned Russian billionaire Suleiman Kerimov. The government said it wants to sell the $230 million yacht due to the “excessive costs” of maintenance and crew, which it said could total $922,000 a month.

“It is excessive for taxpayers to pay nearly a million dollars per month to maintain the Amadea when these expenses could be reduced to zero through [a] sale,” according to a court filing by U.S. prosecutors on Friday.

The monthly charges for Amadea, which is now docked in San Diego, California, include $600,000 per month in running costs: $360,000 for the crew; $75,000 for fuel; and $165,000 for maintenance, waste removal, food and other expenses. They also include $144,000 in monthly pro-rata insurance costs and special charges including dry-docking fees, at $178,000, bringing the total to $922,000, according to the filings.

The battle over Amadea and the costs to the government highlight the financial and legal challenges of seizing and selling assets owned by Russian oligarchs after the country’s invasion of Ukraine. European Commission President Ursula von der Leyen said last week that the European Union should use profits from more than $200 billion of frozen Russian assets to fund Ukraine’s war effort.

Her comments echoed government calls in the spring of 2022 to freeze the yachts, private jets and mansions of Russian billionaires in hopes of putting pressure on Russian President Vladimir Putin and raising money for the war effort.

Yet, nearly two years later, the legal process for proving ownership of the Russian assets and selling them has proven to be far more time-consuming and costly. In London, Russian billionaire Eugene Shvidler has waged a court battle over his private jets that were impounded, and Sergei Naumenko has been appealing the detention of his superyacht Phi.

The battle over Amadea began in April 2022, when it was seized in Fiji at the request of the U.S. government, according to the court filings.

Though the U.S. alleges that the yacht is owned by Kerimov, who made his fortune in mining, attorneys for Eduard Khudainatov, an ex-Rosneft CEO who has not been sanctioned, say he owns the yacht, and have sought to take back possession of the vessel.

In court filings, Khudainatov’s attorneys have objected to the U.S. government’s efforts to sell the yacht, saying a rushed sale could lead to a distressed sale price and that the maintenance costs are minor relative to the potential sale value.

Khudainatov’s attorneys refuse to pay the ongoing maintenance costs as long as the government pursues a sale and forfeiture. However, they say their client will reimburse the U.S. government for the more than $20 million already spent to maintain the yacht if it’s returned to its proper owner.

In court papers, the government says Kerimov disguised his ownership of Amadea through a series of shell companies and other owners. They say emails between crew members show Kerimov “was the beneficial owner of the yacht, irrespective of the titleholder of the vessel.”

The emails show that Kerimov and his family ordered several interior improvements of the yacht, including a new pizza oven and spa, and that between 2021 and 2022, when the boat was seized, “there were no guest trips on the Amadea that did not include either Kerimov or his family members,” according to the court filings.

The government also says Kerimov has been trying to sell Amadea for years, so a sale would be in keeping with his intent.

“This is not a situation in which a court would be ordering sale of a precious heirloom that a claimant desperately wishes to keep for sentimental reasons,” the government said in filings.

Even if Amadea were sold quickly, the proceeds wouldn’t automatically go to the government. Under law, the money would be held while Khudainatov and the government continue their battle in court over the ownership and forfeiture.

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Italy Seizes $578M SY A Yacht of Andrey Melnichenko—Part of Putin's 'Closest Circle'

Italian authorities have seized a superyacht worth $578 million from a Russian billionaire who was sanctioned by the the European Union following Russia's invasion of Ukraine.

Andrey Igorevich Melnichenko's 470-foot Sailing Yacht A —believed to be the world's biggest—has been sequestered at the northern port of Trieste, the Italian prime minister's office said.

Industrialist Melnichenko, who owns the fertilizer producer EuroChem Group and coal company SUEK, is among several prominent Russian oligarchs sanctioned by the EU since the start of the Ukraine War. He is worth around $11 billion according to Forbes.

Italian police said they had over the last week seized villas and yachts worth 143 million euros ($156 million) from five Russians on the sanctions list.

Italian media released footage that reportedly showed Melnichenko's yacht being seized.

Sanzioni contro la Russia: A Trieste, nel rimessaggio del porto, è stato sequestrato dalla Guardia di Finanza lo yacht a vela più grande del mondo, del valore di 530 milioni di euro. Lo "SY A" è riconducibile all'imprenditore russo Andrey Igorevich Melnichenko. pic.twitter.com/xj0V728Qsa — Tg La7 (@TgLa7) March 11, 2022

In announcing the sanctions against Melnichenko, the EU council called him "a member of the closest circle of Vladimir Putin " and that he "is supporting or implementing actions or policies which undermine or threaten" Ukraine.

"It also shows that he is one of the leading businesspersons involved in economic sectors providing a substantial source of revenue to the government of Russia, which is responsible for annexation of Crimea and ​destabilization of Ukraine," it added.

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The U.S. has also imposed tough sanctions on business elites and the inner circle of President Vladimir Putin, including the Russian president's spokesperson Dmitry Peskov's wife and two adult children.

Also targeted by the U.S. are eight oligarchs and nearly two dozen of their family members and associates whose assets in the U.S. have been frozen. "The goal is to maximize the impact on Putin," President Joe Biden said last week.

The U.S. Treasury has also blocked a $90m private jet and a yacht owned by businessman Viktor Vekselberg.

The EU, the U.K and the U.S. have all slapped tough sanctions on Russian oligarchs to punish Moscow for its invasion of Ukraine and the symbols of opulent wealth are a target.

Last week, French authorities seized a $120-million super yacht owned by Igor Sechin, the CEO of Russian state-controlled oil giant Rosneft. The yacht, Amore Vero, was moored in La Ciotat in the south of France.

Meanwhile, Roman Abramovich has been disqualified as a director of Chelsea Football Club, the Premier League announced on Saturday.

The U.K. government has frozen Abramovich's British assets, but has granted Chelsea a license until May 31 that will allow the club to continue to train and play its fixtures.

Uncommon Knowledge

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About the writer

Brendan Cole is a Newsweek Senior News Reporter based in London, UK. His focus is Russia and Ukraine, in particular the war started by Moscow. He also covers other areas of geopolitics including China. 

Brendan joined Newsweek in 2018 from the International Business Times and well as English, knows Russian and French.

You can get in touch with Brendan by emailing [email protected] or follow on him on his X account @brendanmarkcole.

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By SuperyachtNews 03 Mar 2022

What does it mean for a yacht to be seized?

Duncan bateson, partner at ince, gives insight into the latest developments related to russia, sanctions and the superyacht industry….

The word 'seized' is emotive and is being used freely across the media landscape concerning superyachts believed to be owned by sanctioned Russian Oligarchs. The cat and mouse game of yachts vs authorities has been hyped across the media landscape, and several high profile yachts do now appear to be held within EU ports in line with the latest EU sanctions against Russia. SuperyachtNews speaks with Duncan Bateson, Partner at Ince , for some clarity on the unfolding situation. 

“What we are seeing is the most comprehensive sanctions ever,” starts Bateson, “the most recent example for comparison is the sanctions in 2019, but this goes far beyond that."

 The 2019 Iran crisis is a good starting point; Britain seized the Iranian tanker Grace 1 off Gibraltar, with the counter seizing of the UK-registered Stena Impero in the straits of Hormuz by Iranian authorities. The designation at the time was opaque, but in the case of the UK seizure of Grace 1, it was clearer cut; the Iranian vessel was in breach of EU sanctions and was passing through UK territorial waters. However, this level of military involvement and physical apprehension of vessels is not, at this stage, what we are seeing with Russian owned superyachts. There has however been a Russian tanker diverted and held by French Authorities as it passed the English Channel.  

“The sanctions regime in the UK remains for now closely aligned with those of the EU, with minor divergences,” says Bateson but there are some differences in the sanctions imposed. “The UK has banned Russian vessels from entering UK waters and there are calls on the EU to do the same and we hear more oligarchs will be added to the list”.  Some yachts owned by individuals on the sanctions list, or that may be in the future, are already in EU waters, as is common in March irrespective of geopolitics, and are now clearly within EU jurisdiction for sanctions. Adherence to these stricter EU sanctions is now the primary focal point. 

Further, as Bateson explains, the reputational stakes are high, especially for the banks. International banks will not want to touch payments connected to those sanctioned. His firm has had the experience of banks deciding to shut accounts from which payments that may breach sanctions have been made. “They had their knuckles rapped over Iranian sanctions and won’t want to make the same mistake now”.

“It won’t be easy for sanctioned individuals to hide their assets. While the offshore jurisdictions may appear to have opaque ownership and data trails but many provide for beneficial ownership records that are not public to be inspected by authorities so they will now be at the forefront of scrutiny,”  states Bateson.

“The primary function of the sanctions on the owner of the yacht, in this situation, is to prevent anyone from providing a sanctioned individuals with funds or economic resources,” Bateson explains. “This includes any goods or services. Simply put, anyone dealing with one of these vessels will want to ensure that avoid breaching the sanctions.” Avoiding the risk of ‘breaching these sanctions’ is already having a significant effect on the industry. As Bateson stresses, “The reality is that crew and contractors may well be in breach of sanctions if they provide goods or services to the yacht.”

The physical act of ‘seizing’ a yacht can be misrepresented. The days of chaining props in French harbours for unpaid marina fees are not exactly analogous, and the actions now are likely to be more bureaucratic, despite some of the rhetoric. Port authorities and customs can withhold clearance, and effectively hold a vessel indefinitely. The bureaucratic vice that will surround the yacht combined with the sanctions related implications for any contractor, supplier, shipyard or marina exchanging goods and services may effectively strangle the vessel.

To this effect, there is, at the time of writing, an announcement from the French Finance Minister, Bruno Le Maire, that the country has seized the 86m Amore Vero , a vessel linked to Igor Sechin in La Ciotat. Further such detentions have been unofficially inferred at shipyards in Germany and may follow in Spain and across the Mediterranean. In most cases, there have been reports of suppliers, contractors and crew leaving the vessel. As outlined by Bateson, this would appear to be to avoid triggering the sanctions via economically supporting or providing services to these vessels.

The rapid evolution of international unity against the conflict has caught many by surprise, and the glacial pace of cross-national regulatory enforcement and adoption that so often affects implementation appears not to be impacting the rollout of these sanctions, and this may further broaden their reach. “What we are seeing with other sanctions, and especially regarding the USA, is that there is a tendency to think that they will only apply in those territories,” explains Bateson, “Take the USA task force that has been announced, I am sure that we will see the influence of the White House extending into Europe and beyond, largely due to extensive cooperation and intelligence sharing.” 

The USA has been explicit in this regard in recent days, with President Joe Biden announcing the ‘KleptoCapture’ task force specifically targeting private yachts, along with other assets. President Biden went on to state that "We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets. We are coming for your ill-begotten gains."  To this point Bateson concludes; “At the moment, not all Russian Oligarchs are being directly sanctioned. As the ongoing reporting outlines. However, that list is likely to widen and expand as the cooperation between the various nations increases.”

The complicated issue of ‘seizing a yacht’ becomes manifoldly more complex if full control of an asset like a yacht is taken by the local authority, and will be explored in forthcoming coverage. As yet this is not the situation onboard the vessels so far affected. With so much weight given to the financial implications, the human impact on the crew must be kept as the priority. It goes without mentioning that some of the largest and most high profile yachts have dozens of multinational crew onboard, who are the coal face of these sanctions. For more information regarding the best advice for the crew, please see our ongoing coverage in conjunction with Nautilus International .  

Image credit iStock 

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Yachting World

• Digital Edition

World’s largest sailing yacht, Sailing Yacht A, seized

• Helen Fretter
• March 12, 2022

The world's largest sailing yacht, Sailing Yacht A, has been seized by Italian authorities after its Russian owner was placed on a sanctions list

Italian authorities have seized the largest sail-assisted superyacht ever built, the 143m (470ft) Sailing Yacht A, Italian news outlets are reporting.

According to the Reuters news agency in Rome, the Italian prime minister’s office confirmed this morning (Saturday, March 12) that the yacht had been seized after owner, Russian billionaire Andrey Igorevich Melnichenko, was placed on an EU sanctions list following Russia’s invasion of Ukraine.

The Philippe Starck-designed  Sailing Yacht A is one of the most of the distinctive yachts ever built . At 143m (470ft) long it features eight decks, and a 20m freeboard.

Sailing Yacht A has a beam of 24.8m and a 20m freeboard

It was built by Nobiskrug in Germany and launched in 2016. It carries three of the world’s largest carbon rigs, which are unstayed and rotating, with over 3,700 square metres of sails set via an in-boom furling system. It also features a gimballed crow’s nest, accessible by lift, 60m high in one of the curved masts, an observation pod embedded in the keel and a three-man submarine.

The hull has a maximum beam of 24.8m and includes 24 shell doors concealed within it.

It was built under strict non-disclosure agreements, but has been reported to have a price tag of around €530 million ($578 million).

The yacht is reported to have been sequestered at the northern port of Trieste, following sanctions imposed on its owner. Melnichenko owns the fertiliser producer EuroChem Group and coal company SUEK.

Several high profile superyachts belonging to Russian oligarchs have been seized across Europe in the past week, although this is the first sailing vessel of its kind to be impounded.

Italy seizes Russian billionaire Melnichenko's Sailing Yacht A

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Reporting by Emilio Parodi in Bergamo and Stevo Vasiljevic in Tivat Writing by Giselda Vagnoni Editing by Frances Kerry

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Courts in Russia placed two journalists in pre-trial detention for two months on Saturday after state prosecutors accused them of taking part in the activities of an "extremist" organisation founded by late opposition politician Alexei Navalny.

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Ukraine pulls back from three villages in east, Zelenskiy pleads for weapons

The moves reflect Ukraine's deteriorating position in the east that Kyiv hopes it can stabilize once it takes delivery of U.S. weapons. Moscow's troops have been slowly advancing since capturing the bastion town of Avdiivka.

A pro-Kremlin oligarch's impounded yacht is being auctioned off — with the money going to Ukraine

• A Dutch auction house is selling the seized yacht of a pro-Kremlin oligarch, per a Ukraine agency.
• Ukraine said it's the first seized asset to be sold to help support the country.
• The move is a "turning point" that could pave the way for similar efforts abroad, it said.

A Dutch auction house is gearing up to sell a yacht belonging to a pro-Russian Ukrainian oligarch, the first time a seized asset is being sold and the funds sent to Ukraine, according to Ukraine's Asset Recovery and Management Agency .

The agency, a governmental body responsible for finding, tracing, and dealing with assets derived from corruption and other crimes, said Troostwijk Auctions would manage the sale of the 92-meter-long yacht.

The MY Royal Romance was owned by Viktor Medvedchuk, a Ukrainian lawmaker who had his Ukrainian citizenship revoked for his pro-Russian activities.

The US sanctioned Medvedchuk in March 2014 for his alleged role in the 2014 Russian annexation of Crimea, and Ukrainian counterintelligence officers arrested him in April 2022 after he was charged with treason.

He was swapped for 200 Ukrainian prisoners of war in September 2022 after requesting such an exchange shortly after his arrest, according to the Security Service of Ukraine .

Selling yachts owned by those sanctioned by Ukrainian and Western governments has proved to be a headache .

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Many of the yachts are "frozen" — not seized — and technically don't belong to overseas governments, meaning they can't be sold without special permission.

As BI previously reported , Russia's invasion of Ukraine prompted many governments to enact sanctions against Russia's richest , including seizing superyachts worth hundreds of millions of dollars.

But over two years later, it's still unclear whether they can be sold or, indeed, who'd buy them.

Ukraine's Asset Recovery and Management Agency described attempts to sell the Royal Romance as 10 months of "tireless" work.

It also described the move as a "turning point" that could pave the way for more similar efforts in Ukraine and abroad.

The "sale of Medvedchuk's yacht is not only symbolic, as it can be the first impetus and demonstration to the entire community that the assets of traitors to Ukraine will be used for the benefit of Ukraine," it said.

The agency did not specify where or when the auction would take place. It also failed to mention the expected price tag.

Ukraine's Asset Recovery and Management Agency and Troostwijk Auctions did not immediately respond to BI's request for comments.

Watch: Video of Russian naval ship explosion shows a much-needed win for Ukraine

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Ukraine war: £443m superyacht owned by oligarch Andrey Melnichenko seized in Italy as part of sanctions

The vessel, the biggest sailing yacht in the world, is owned by billionaire Andrey Melnichenko, who made a fortune in fertiliser production and coal.

News reporter

Sunday 13 March 2022 01:14, UK

A Russian-owned superyacht valued at £443m has been confiscated by Italian police in the port of Trieste as part of a global crackdown on wealthy oligarchs.

The Sy A yacht is owned by billionaire Andrey Melnichenko, 50, who made a fortune in fertiliser production and coal.

The vessel was seized on Friday evening.

Designed by Philippe Starck and built by Nobiskrug in Germany, the vessel is the world's biggest sailing yacht at 143m in length.

Read more: Russia says Western arms shipments now 'legitimate military targets' - follow latest updates on Ukraine war

Footage shows police cars approaching the triple-masted yacht and officers boarding it.

Italian authorities last week seized £120m in luxury yachts and villas belonging to Russian billionaires in picturesque retreats such as Sardinia, the Ligurian coast and Lake Como as part of sanctions against oligarchs linked to Vladimir Putin.

A statement from the Official Journal of the European Union described Melnichenko as belonging to the "most influential circle of Russian businesspeople with close connections to the Russian Government".

It added: "On 24 February 2022, in the aftermath of the initial stages of Russian aggression against Ukraine, Andrey Igorevich Melnichenko, along with other 36 businesspeople, met with President Vladimir Putin and other members of the Russian government to discuss the impact of the course of action in the wake of Western sanctions.

"The fact that he was invited to attend this meeting shows that he is a member of the closest circle of Vladimir Putin and that he is supporting or implementing actions or policies which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine, as well as stability and security in Ukraine."

A spokesperson for Melnichenko said the businessman had "no relation to the tragic events in Ukraine and has no political affiliations".

"There is no justification whatsoever for placing him on the EU sanctions list.

"We will be disputing these baseless and unjustified sanctions, and believe that the rule of law and common sense will prevail."

A number of oligarchs have sought to move their superyachts to safe locations to avoid confiscation.

Roman Abramovich's superyacht Solaris has been spotted in the small Adriatic Sea state of Montenegro.

The 533ft Solaris was seen on Saturday outside the Porto Montenegro marina in the coastal town of Tivat after arriving from Barcelona.

There was no immediate comment from the Montenegrin authorities on the arrival of the £460m vessel.

The NATO country has joined Western sanctions imposed on Russia for its invasion of Ukraine.

It comes after Abramovich was sanctioned by the UK government .

The Chelsea Football Club owner is one of seven more Russian oligarchs who have had sanctions placed on them by ministers in response to Russia's invasion of Ukraine.

A government document announcing the move said that Abramovich has had a "close relationship for decades" with Putin.

The UK is the first nation to sanction Abramovich, who has been described by the government as a "pro-Kremlin oligarch".

The government has now sanctioned more than 200 individuals and entities.

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Follow our news, recent searches, rare bugatti supercars linked to 1mdb seized in germany, advertisement.

The four cars are the Rembrandt edition Veyron, Black Bess, Jean-Pierre Wimille, and Meo Costantini. Each is valued at around US$3 million.

A Bugatti Veyron displayed during the Retromobile classic car show at Porte de Versailles in Paris on Feb 4, 2020. (Photo: AFP/Martin Bureau)

Rare Bugatti supercars believed to be linked to Malaysian sovereign wealth fund 1MDB were seized in Germany earlier this week from a private storage facility in Munich, according to German media reports.

The confiscated luxury cars are classified under the exclusive "Legends" series of Bugatti hypercars, with only 18 produced in the series, said Malaysian news outlet Bernama.

The four cars are the Rembrandt edition Veyron, Black Bess, Jean-Pierre Wimille and Meo Costantini. Each is valued at around US$3 million.

Bernama reported that the Malaysian Anti-Corruption Commission (MACC) has requested information from German authorities concerning the seizure of the vehicles.

MACC Chief Commissioner Azam Baki said on Sunday (Apr 28) that the anti-graft agency had been probing the matter since 2020.

He said that in November 2020, a mutual legal assistance request was submitted to Switzerland to obtain information about frozen assets related to the 1Malaysia Development Berhad case.

"This was followed by meetings with the Office of the Attorney-General of Switzerland regarding 50 luxury cars involved in the 1MDB investigation in 2021. 

"Later in March 2022, a meeting with the Office of the Attorney-General was held in Switzerland to discuss the progress of the mutual legal assistance request and obtain further information," said Azam as quoted by Bernama. 

Following this, the anti-graft agency asked German authorities for information about 1MDB bond funds used to purchase luxury cars in the country on Oct 26, 2022. 

Azam added that in a recent development, MACC also requested that the German authorities provide them with the latest information. He did not elaborate on the nature of this request. 

According to German newspaper Bild, the Munich Police Headquarters referred the seizure to the Federal Prosecutor's Office in Bern, Switzerland. The case took place as part of a request for legal assistance from the office, according to the spokesperson. 

The authorities did not provide further information as legal proceedings were still ongoing. 

Malaysia High Court sets Jun 5 date to decide if Najib’s legal bid for house arrest can proceed

Jail terms sought for accused in US$1.8 billion 1MDB fund fraud

Artwork, superyacht.

The multibillion-dollar 1MDB financial scandal has led to criminal investigations around the world - including in the United States, Switzerland and Singapore - involving politicians, celebrities and prominent individuals. 

It is alleged that billions of dollars were pilfered from the fund by a number of people and used to buy items ranging from artwork to a superyacht.

Former Malaysian prime minister Najib Razak was in 2022 sentenced to  12 years in jail  for offences linked to the misuse of public money. In February this year, his sentence was  halved to six years .

Najib has been serving time in Kajang Prison after the Federal Court upheld his conviction for criminal breach of trust, power abuse and money laundering over the misappropriation of SRC International funds. SRC International is a former subsidiary of 1MDB. He is slated to be released in August 2028.

But with parole for good behaviour, he could be out in August 2026 after serving two-thirds of the new jail term. 

Najib, who served as prime minister from 2009 to 2018 and is the first premier to be jailed, still faces corruption charges in three separate cases.

He will have to wait until Jun 5 to know whether he can proceed with his bid to serve the remainder of his sentence under house arrest.

Two men accused of embezzling US$1.8 billion from 1MDB are currently on trial in Switzerland. 

PetroSaudi chief executive Tarek Obaid and Patrick Mahony, a director at the Saudi oil exploration and production company, are accused of squandering their loot on precious stones, private jets, rented yachts and property in London and Geneva.

Prosecutor Alice de Chambrier accused them of "extraordinary criminal activity and tenacity" over 10 years between 2009 and 2019, if alleged acts of concealment are included.

She sought a 10-year sentence for Obaid and a nine-year term for his right-hand man.

Obaid is a Swiss-Saudi dual national, while Mahony is Swiss-British.

The case, being heard by three judges, opened on Apr 2 and is scheduled to last until the end of the month though the verdict could take months.

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