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Spain seizes another Russian yacht believed to belong to an oligarch.

The ship was impounded in the Spanish port of Tarragona pending an inspection to establish its exact ownership, Spain’s transport ministry said.

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By Raphael Minder and Michael Forsythe

• March 16, 2022

MADRID — Spain, which has pledged to seize the suspected superyachts of Russian oligarchs targeted for sanctions imposed following Russia’s invasion of Ukraine, on Wednesday impounded the third such vessel, one of the world’s biggest superyachts, in Spanish territorial waters this week.

The ship was impounded in the Spanish port of Tarragona, pending an inspection to establish its exact ownership, Spain’s transport ministry said in a statement. The ship, called the Crescent, was registered in the Cayman Islands.

The Spanish authorities have taken similar measures against two other yachts, the Valerie, which was in a maintenance yard in Barcelona, and Lady Anastasia, a yacht that was moored in Port Adriano, on the Spanish island of Majorca.

Spain’s hunt for Russian-owned superyachts comes after Prime Minister Pedro Sánchez announced the seizure of the Valerie on Monday and warned that “there will be more.”

The transport ministry said on Wednesday that if the inspections confirmed that the yachts belonged to people on the sanctions list drawn up by the European Union, they would remain fully immobilized.

The Valerie is suspected of being indirectly owned by Sergei Chemezov, the head of Rostec, a Russian industrial conglomerate that also makes military technology and equipment. The vessel was one of four Russian-owned superyachts that had recently been undergoing work at MB92, a shipyard that has helped establish Barcelona as one of the main hubs for the extravagant yachts owned by the super wealthy.

The Crescent, valued by the SuperYachtFan website at $600 million, appears to be the sister ship of the slightly larger, slightly more expensive Scheherazade, a 459-foot superyacht that U.S. officials said could be associated with President Vladimir V. Putin of Russia.

Both were built at the same German shipyard, Lurssen, where the Crescent was given the project name “ Thunder ,” while the Scheherazade, put into service about two years later, was called “Lightning.” Both share the same interior and exterior designers and have been managed by a Monaco company, Imperial Yachts, which caters to Russian oligarchs.

The two yachts also share another, unusual characteristic: Photos of the Crescent taken on March 13 by a former Central Intelligence Agency officer, Alex Finley, in the Spanish port where it was impounded appear to show that the Crescent conceals its nameplate while in port, just like the Scheherazade .

Track information on the Crescent from MarineTraffic , a maritime data provider, shows that Crescent spends most of its time in the Mediterranean, cruising between Spain, Italy, France and Montenegro, a popular destination for the yachts of Russian oligarchs. The 445-foot long Crescent, one of the 20 largest superyachts , has been at the Tarragona marina since early November.

Last week Italian police said they were investigating the ownership of the Scheherazade, which is in dry dock at a port on the Tuscany coast.

The Lady Anastasia, which was impounded on the island of Mallorca, is believed to be owned by Alexander Mikheev, a Russian arms dealer. In late February, the police on Majorca detained a Ukrainian member of the yacht’s crew because he had been planning to sink the vessel, in retaliation for the Russian invasion of Ukraine. He was released on bail, pending an investigation.

In early March, the French authorities seized a yacht in a yard in La Ciotat, which they said was linked to Igor Sechin, the chief executive of the state oil company Rosneft and a former deputy prime minister of Russia. The French yard is owned by MB92, the Spanish company that owns the yard in Barcelona.

MB92 said at the time that it was cooperating with the French authorities and would respond in due course to any possible further sanctions against Russians. “We are continuously monitoring the decisions taken by the Spanish authorities, the European Union and the U.S. as they come into effect,” the company said.

Raphael Minder covers Spain and Portugal, based in Madrid. He previously worked for Bloomberg News in Switzerland and for the Financial Times in Paris, Brussels, Sydney and finally Hong Kong. More about Raphael Minder

Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

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.

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.

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 .

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.

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.

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.

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.

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.

Dareh Gregorian is a politics reporter for NBC News.

EXCLUSIVE Spain moves yacht linked to Russian oligarch after payments stop - ministry source

• Medium Text

• Shows logistical challenges of managing 'frozen' yachts
• Lawyer says oligarchs face dilemma over upkeep payments
• Renamed boat escorted by police during transfer to marina

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Reporting by Joan Faus; Additional reporting by Javier Alvarez and Jonathan Saul; editing by Aislinn Laing and Andrew Heavens

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Joan is a Barcelona-based correspondent reporting on politics, economics and social issues, such as migration and the car industry’s green transition, and also conducting investigative pieces. With over 15 years of experience, Joan previously worked as Washington correspondent for Spain’s leading newspaper EL PAÍS, closely covering the Obama and Trump administrations, electoral campaigns and major news; at Spanish newspapers Ara and Público in Madrid, and at EFE news agency in Buenos Aires and Barcelona. He is a journalism graduate from Barcelona’s Autonomous University, including an exchange program in Amsterdam and New York, and holds a business executive degree from IESE Business School

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Roman Abramovich’s superyacht leaves Barcelona port as net closes on Russian oligarchs in European waters

The 140-metre 'my solaris' yacht headed through the mediterranean after leaving the spanish port.

A superyacht owned by Roman Abramovich slipped out of Barcelona port, joining a growing exodus of vessels owned by Russian oligarchs from European ports amid the threat of seizure.

The 140-metre My Solaris was heading southeast through the Mediterranean after leaving the Spanish port on Tuesday, according to ship tracking data from MarineTraffic.

The European Commission has prepared a new package of sanctions against Russia and Belarus over the Ukraine invasion which could target Russian oligarchs, politicians and banks.

Mr Abramovich, who last week said he would sell Chelsea Football Club and would give the proceeds of the sale to the victims of the Ukraine war, has not been the target of sanctions.

Three other superyachts linked to Russian oligarchs are anchored in Barcelona where they loom over the other boats like over-sized toys for the super-rich.

One is named Valerie , a 85-metre yacht owned by Sergei Chemezov, head of the Russian defence conglomerate Rostec, who was sanctioned by the US government last week.

The other two belong to oligarchs who have not been sanctioned.

The $120m Aurora , owned by Andrey Molchanov, the main shareholder in Russian homebuilder LSR, dominates the marina.

Nearby is the 95-metre Palladium which has its own swimming pool and private cinema and is owned by metals magnate Mikhail Prokhorov.

French authorities last week temporarily impounded four cargo vessels and one luxury yacht linked to the Russian oligarchs as the US and other governments brought in extra sanctions against those close to Russian President Vladimir Putin.

Germany and Italy have also seized superyachts owned by Russian oligarchs but despite its popularity as a destination for the super-rich to stop off in their yachts, Spain has yet to impound any vessels.

Spain has asked the EU to introduce a ban on Russian oligarchs’ yachts in ports across the continent but so far Madrid has not seized any vessels.

The left-wing government is collecting details on yacht owners from the most popular ports in Barcelona, Puerto Banus near Marbella and in the Balearic Islands.

As Barcelona remains a playground for Russia’s super-rich, the sizeable Russian émigré community claimed they were the target of a boycott of their businesses and their restaurants, while Russian school children are being targeted by other pupils. One Russian shop outside Barcelona was vandalised, police said.

“They cannot hate us just because we are Russian. We are not to blame for political decisions and least of all the children,” said Natalia Loskutova, president of Raduga, a cultural association.

More on Russia-Ukraine war

In Barceloneta, the former fishing village which is now dominated by tourist flats and the superyacht marina, the colours of the Ukrainian flag fly but more by accident than on purpose.

The Barcelona neighbourhood has its own flag which shares the blue and yellow of the Ukrainian national flag.

The superyacht Marina Port Vell was owned by the British company, Salamanca Group, but in 2017, it was sold to the Qatari Investment bank QInvest and a fund with various international investors.

One of these is Vagit Alekperov, the president of the Russian energy giant Lukoil, who was valued at $17.9bn by Forbes magazine.

His superyacht Galactica Super Nova left Barcelona last week for Montenegro, which does not have an extradition treaty with the EU.

A spokesman for Mr Abramovich said: “I am sorry but we never comment on the movements on the yacht or any other vehicles or vessels.”

“Sometimes these yachts are assets of companies who are registered in jurisdictions where they do not need to register beneficial owners so it can be difficult for governments to establish who the real owner is,” Roland Papp, of Transparency International, an anti-corruption group told i .

At least five other superyachts owned by Russian billionaires were anchored in the Maldives or the Seychelles last week, in the Indian Ocean.

Eclipse, another yacht owned by Mr Abramovich, which left Barcelona last autumn is now in the Caribbean Sea near the British Virgin Islands, according to SuperYachtFan, a website dedicated to these luxury vessels.

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Spain has now impounded three yachts linked to Russian oligarchs

Click here for all our reports related to the Russian invasion of Ukraine .

UPDATED – Thurs 17 March at 19h

Spanish authorities impounded a third yacht suspected of belonging to a Russian oligarch on Wednesday, as part of the EU sanctions over the Ukraine war, the transport ministry said.

The 135-metre long yacht, Crescent , has been stopped from leaving the Catalan port of Tarragona whilst police determine if it ‘belongs or is under the control of’ someone on the EU sanctions list, the ministry said in a statement.

The yacht reportedly belongs to Igor Sechin , the head of Russia’s oil giant Rosneft and another ally of Russian President Vladimir Putin . The Crescent has been docked in Tarragona since November. It had requested permission to depart the port on 4 March but did not set sail, the ministry said.

Sechin is on the EU’s list of Russian tycoons targeted by sanctions following Russia’s invasion of Ukraine on 24 February.

On Tuesday this week, Spanish authorities impounded a yacht called Lady Anastasia on the island of Mallorca which reportedly belongs to Russian tycoon Alexander Mikheev , the head of weapons exporting group Rosoboronexport . The same yacht had been in the news at the end of February when a Ukrainian sailor was arrested in Mallorca by Spain’s Guardia Civil  for trying to sink the vessel.  Also read:  Ukrainian sailor in court for trying to sink luxury yacht of Russian boss in Mallorca .

Spanish Prime Minister Pedro Sanchez announced Monday during a TV interview that police had impounded another 85-metre-long yacht in Barcelona [see report below]. 

Original report below:

An 85-metre yacht worth $140 million has been impounded in the port of Barcelona , Spanish Prime Minister Pedro Sánchez  has said. It reportedly belongs to Russian oligarch Sergei Chemezov.  

The yacht is reportedly named Valerie , which is linked to Rostec defence firm chief Chemezov, a former KGB officer and an ally of Russian President Vladimir Putin .

‘Today we seized – the technical term is provisionally immobilised – a yacht belonging to one of the principal oligarchs,’ Sánchez said on La Sexta television. ‘We are talking about a yacht that we estimate is worth $140 million,’ he said, adding that ‘others were to follow’, without giving further details.

The Valerie  superyacht sails under the flag of Saint Vincent and the Grenadines. The vessel is registered to Chemezov’s stepdaughter, Anastasia Ignatova , through a British Virgin Islands company, according to a 2021 article published in the Pandora Papers information leak.

Yachts are among the assets of oligarchs targeted by sanctions imposed by the United States and European Union following Russia’s invasion of Ukraine.

Chemezov  had previously been sanctioned by the United States in 2014 and by the UK in 2020 over his involvement in Russia’s annexation of Crimea . He was also named in sanctions lists this month by the United States and Australia. The US sanctions also targeted Chemezov’s stepdaughter, as well as his wife and son. A fourth package of EU sanctions against Russia is due to be unveiled in the coming days.

The yacht has been in Barcelona since 9 February, according to Marine Traffic, and was until Monday under repair at Barcelona’s shipyard MB92.

My Solaris , the €500 million superyacht of Russian billionaire Roman Abramovich , left Barcelona on 11 March and its crew are now looking to dock at a port further East where the vessel will not be seized by authorities.

Also read:  France seizes Russian oil czar’s $120m superyacht, as EU sanctions start to bite .

Also read:  Ukrainian sailor in court for trying to sink luxury yacht of Russian boss in Mallorca .

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Yacht linked to Russian oligarch Roman Abramovich leaves Barcelona

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BARCELONA (Reuters) -A superyacht linked to Russian oligarch Roman Abramovich left Barcelona on Tuesday where it had been undergoing repairs in a local shipyard, ship-tracking data showed.

The 140-metre (460-foot) Solaris, which sails under a Bermuda flag according to monitoring site Marine Traffic, left Spanish company MB92's Barcelona shipyard just after 5 p.m. (1600 GMT) on Tuesday, according to the same site. MB92 declined to comment.

The superyacht, which was built in a German shipyard and first took to the sea early last year, is one of a string of yachts owned by Abramovich, according to reports in luxury goods publications SuperYachtFan, SuperYacht Times and Forbes.

Abramovich, who last week put Chelsea Football Club up for sale and promised to donate money from the proceeds to help victims of the war in Ukraine, has not been the target so far of any sanctions over Moscow's invasion.

A spokeswoman for Abramovich said: "We never comment on the movements of the yacht or any other vehicles or vessels."

The boat had been at the Barcelona shipyard since late 2021, a sector source said. It was unclear where it was headed.

Video: Oligarchs aren't just in Russia, how the rich influence American elections

The European Commission has prepared a new package of sanctions against Russia and Belarus over the invasion of Ukraine that will hit additional Russian oligarchs and politicians and three Belarusian banks, three sources told Reuters on Tuesday.

French authorities last week took into temporary custody four cargo vessels and one luxury yacht linked to Russian oligarchs as the United States and other governments ramped up sanctions on Russia's super-rich with links to President Vladimir Putin.

At least five other superyachts owned by Russian billionaires were anchored or cruising in the Maldives last week, an island nation in the Indian Ocean with no extradition treaty with the United States.

There are currently three other yachts reportedly tied to Russian oligarchs at the Barcelona shipyard, according to Marine Traffic. One of them is related to Sergei Chemezov, chief of Russian state aerospace and defence conglomerate Rostec, who was sanctioned last week by the United States.

The other two are understood to belong to Russian oligarchs who have not been sanctioned - Andrey Molchanov, the main shareholder in Russian homebuilder LSR, and metals magnate Mikhail Prokhorov.

Another superyacht, named Eclipse, which is also reportedly owned by Abramovich, was in Barcelona last autumn and is now in the Caribbean Sea near the British Virgin Islands.

(Reporting by Joan Faus and Catarina Demony; Editing by Nathan Allen, Aislinn Laing and Sandra Maler)

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Yacht Linked to Russian Oligarch Leaves Barcelona

Yachting Journal

A superyacht linked to Russian oligarch Roman Abramovich left Barcelona on Tuesday where it had been undergoing repairs in a local shipyard, ship-tracking data showed.

The 140-meter (460-foot) My Solaris, which sails under a Bermuda flag according to monitoring site Marine Traffic, left Spanish company MB92's Barcelona shipyard just after 5 p.m. (1600 GMT) on Tuesday, according to the same site. MB92 declined to comment.

The superyacht, which was built in a German shipyard and first took to the sea early last year, is one of a string of yachts owned by Abramovich, according to reports in luxury goods publications SuperYachtFan, SuperYacht Times and Forbes.

Abramovich, who last week put Chelsea Football Club up for sale and promised to donate money from the proceeds to help victims of the war in Ukraine, has not been the target so far of any sanctions over Moscow's invasion.

A spokeswoman for Abramovich said: "We never comment on the movements of the yacht or any other vehicles or vessels."

The boat had been at the Barcelona shipyard since late 2021, a sector source said. It was unclear where it was headed.

The European Commission has prepared a new package of sanctions against Russia and Belarus over the invasion of Ukraine that will hit additional Russian oligarchs and politicians and three Belarusian banks, three sources told Reuters on Tuesday.

French authorities last week took into temporary custody four cargo vessels and one luxury yacht linked to Russian oligarchs as the United States and other governments ramped up sanctions on Russia's super-rich with links to President Vladimir Putin.

At least five other superyachts owned by Russian billionaires were anchored or cruising in the Maldives last week, an island nation in the Indian nation with no extradition treaty with the United States.

There are currently three other yachts reportedly tied to Russian oligarchs at the Barcelona shipyard, according to Marine Traffic. One of them is related to Sergei Chemezov, chief of Russian state aerospace and defense conglomerate Rostec, who was sanctioned last week by the United States.

The other two are understood to belong to Russian oligarchs who have not been sanctioned - Andrey Molchanov, the main shareholder in Russian homebuilder LSR, and metals magnate Mikhail Prokhorov.

Another superyacht, named Eclipse, which is also reportedly owned by Abramovich, was in Barcelona last autumn and is now in the Caribbean Sea near the British Virgin Islands. (Reuters - Reporting by Joan Faus and Catarina Demony; Editing by Nathan Allen, Aislinn Laing and Sandra Maler)

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Spain seizes Russian oligarch superyachts in Barcelona and Mallorca

A €140 million superyacht owned by an oligarch friend of Russian leader Vladamir Putin has been seized by authorities in Barcelona.

Another craft has also been impounded in Mallorca.

It’s the first such seizures by Spain since sanctions were imposed against oligarchs in retaliation for Russia’s invasion of Ukraine.

The yacht taken in Barcelona is called Valerie and is owned by Sergei Chemezov, who runs the Russian state-owned defence firm Rostec.

Valerie had been moored in Barcelona since February 9 and sailed under the flag of Saint Vincent and the Grenadines.

The craft is officially registered to Chemezov’s stepdaughter, Anastasia Ignatova via a British Virgin Islands company.

Speaking to La Sexta TV on Monday, Prime Minister, Pedro Sanchez, said; “Today we have temporarily immobilized a yacht of one of Russia’s most prominent oligarchs, and there will be more to come.”

A second yacht was impounded in Mallorca this Tuesday morning at Port Adriano.

It’s been named as the Lady Anastasia owned by a Russian millionaire who is involved in the weapons manufacturing industry.

The craft’s Ukrainian chief engineer was arrested by the Guardia Civil last month after a failed attempt to flood it in revenge for Russia’s invasion of his homeland.

The first seizure on Monday of the Valerie directly hits Sergei Chemezov who is an old colleague of Putin’s from their days of working together for the KGB.

Chemezov said last week that Russia would emerge victorious from Western sanctions when he addresed Rostec staff.

“If you glance at Russia’s history, almost all of that history Russia has battled with different sanctions, with enemies which encircled her, and she always came out as the victor,” he told workers..

Sanctions against Chemezov first started in 2014 after Russia annexed Crimea.

The current measures from the EU and the US also take in his wife, son, and stepdaughter.

• Spain could seize superyachts owned by Russian oligarchs under sanctions against Ukraine invasion
• Ukrainian sailor arrested for trying to sink luxury yacht owned by Russian arms dealer in Spain’s Mallorca
• Abramovich yacht sets sail from Barcelona to avoid seizure under sanctions against Russian oligarchs

• Balearic Islands
• Lady Anastasia
• Pedro Sanchez
• Port Adriano
• Sergei Chemezov
• The Olive Press
• Vladimir Putin

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Alex worked for 30 years for the BBC as a presenter, producer and manager. He covered a variety of areas specialising in sport, news and politics. After moving to the Costa Blanca over a decade ago, he edited a newspaper for 5 years and worked on local radio.

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Spain has seized Russian oligarch’s $140m superyacht in Barcelona, PM says

Spanish prime minister Pedro Sánchez said ‘there will be more’ after the seizure as the west targets Russia over its invasion of Ukraine

• Russia-Ukraine war: live updates

Spain has temporarily seized a Russian oligarch’s $140m (£108m) yacht in Barcelona, as two sources said the vessel belonged to the head of Russian state conglomerate Rostec, an ally of Russian president Vladimir Putin.

“Today we seized – the technical term is provisionally immobilised – a yacht belonging to one of the principal oligarchs,” Spanish prime minister Pedro Sánchez said on La Sexta television on Monday. “We are talking about a yacht that we estimate is worth $140m.”

“There will be more,” he added, without elaborating. Monitoring site Marine Traffic has said that yachts linked to two other oligarchs who are not yet sanctioned were also docked in Barcelona.

The 85-metre (279ft) superyacht Valerie belongs to Sergei Chemezov, a former KGB officer who heads state conglomerate Rostec, two sources told Reuters.

Sailing under the flag of Saint Vincent and the Grenadines, the vessel is registered to Chemezov’s stepdaughter, Anastasia Ignatova, through a the British Virgin Islands company, according to a 2021 article published in the Pandora Papers information leak.

The west has sanctioned Russian billionaires , frozen state assets and cut off much of the Russian corporate sector from the global economy since Russia’s invasion of Ukraine on 24 February.

Chemezov was sanctioned by the United States in 2014 and Britain in 2020 over Russia’s annexation of Crimea and was named in sanctions lists this month by the United States and Australia. The US sanctions also targeted Chemezov’s stepdaughter as well as his wife and son.

He was not named in the latest European list of sanctioned Russian figures but the EU imposed measures against him in 2014. A fourth package of EU sanctions against Russia is due to be unveiled in the coming days.

The yacht has been in Barcelona since 9 February, according to Marine Traffic, and was until Monday under repair at Barcelona’s shipyard MB92.

The yacht will remain under detention while Spanish authorities confirm its ownership and whether they feature on any list of sanctions targets, a government source said.

Chemezov told staff in a message shared with Reuters this week that Russia, which describes its actions in Ukraine as a “special military operation” to safeguard domestic security, would emerge “victorious” despite the sanctions.

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The National

16 superyachts owned by Russian oligarchs

Western sanctions over moscow's invasion of ukraine led to many luxury vessels being detained in europe.

23 March, 2022

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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.

Tips: Do you have information to share about seized or frozen Russian assets? Learn how to reach our journalists and help us investigate.

Senior Visuals Editor @CNNBusiness @CNN

Russian yacht seized by court in Barcelona

A court in Spain has ordered the seizure of M/Y Meridian A , formerly known as Valerie , due to unpaid shipyard bills. Meridian A is a Russian-owned yacht that has been in Barcelona since early March due to a travel freeze ordered by Spanish authorities. To read more, click here.

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On the morning of March 29 2022, Captain Guy Booth was working aboard Phi, a 192ft aquamarine superyacht moored in London’s Canary Wharf, when he heard a commotion below. Down on the pier a car had pulled up and Grant Shapps, then the UK’s transport secretary, emerged from the vehicle, followed by a retinue of aides.

“The first thing we saw was his entourage, several men and women carrying clipboards and make-up and hairbrushes,” says Booth. 

Shapps and his team then began to shoot a video for the social media network TikTok, where the government minister announced that Phi — built in 2021 by the famed Dutch luxury shipbuilder Royal Huisman and worth an estimated £38mn — “belongs to a Russian oligarch, friends of Putin”.

Booth watched in amazement as several television crews who’d been tipped off about the news arrived at the scene. “Shapps was positioning himself like a big game hunter, checking his best angle,” says Booth. “They took several takes.”

Next, a black cab arrived and three officers from the UK’s National Crime Agency got out. They climbed aboard and handed Booth a brown envelope. Inside was a government order: the boat he captained was now detained for being “owned by persons connected with Russia”.

Video description

A video shot by Grant Shapps in Canary Wharf, which shows the yacht Phi after the order to detain it in London

Today, Phi is still moored in the same spot in Canary Wharf outside an Indian restaurant, and with a small skeleton crew aboard. Each day, Booth, along with two engineers, a chief officer, a crew cook and two deck hands wake up on board and dutifully service the vessel.

Its once feted “infinite wine cellar” and seven-metre swimming pool lie unused. A lonely sun lounger sits out on deck, and the yacht’s Maltese maritime flag droops. Pink paint has been applied to its roof to protect it from the risk of dust from nearby building sites. 

Paul Dickie, a lawyer at Jaffa & Co who has represented Phi, claims the boat has been targeted by squatters. A notice on its side warns any would-be trespassers that they will be prosecuted “to the full extent of the law”.

For western nations, the yachts’ fate is a high-stakes test of the effectiveness of sanctions. For the lawyers who work for the owners, these seizures are acts of modern piracy

Phi’s owner, a Russian businessman called Sergei Naumenko, has repeatedly denied any connection to Vladimir Putin or the Russian state, and has twice unsuccessfully appealed to the English courts to have the yacht released. 

In May 2023 an English High Court judge said Shapps’s TikTok video claims that the owner had “close connections to Putin” were “excusable political hyperbole”. The Court of Appeal in March this year said it was “troubled” by Shapps’s “incorrect” statements. Both courts, however, upheld the UK detention order for the vessel.

After Putin’s full-scale invasion of Ukraine in February 2022 prompted western governments to unleash an avalanche of economic sanctions against Russian oligarchs, there are now multiple superyachts like Phi trapped in ports around the world. Several are stuck in seemingly never-ending legal quagmires, with vastly expensive lawyers hired by often opaque offshore owners battling for their release.

Although tens of billions of dollars of Russian-owned luxury assets, including mansions, luxury cars and private jets, have been frozen, it was the symbolism of the seizure of the oligarch superyachts — vast, floating Versailles palaces often worth hundreds of millions of dollars — that captured the public’s imagination. Anti-corruption campaigners hoped at the time that these vessels would be auctioned off and the proceeds could be donated to Ukraine.

Yet more than two years on from the start of the war, the future of these superyachts remains unresolved. Once prized trophies in the west’s co-ordinated response to Russia’s aggression, some have racked up vast maintenance costs for taxpayers, had their angry crews turn fire hoses and drones on snooping reporters, and been the target of sabotage plots by anti-war activists. 

For western governments, resolving the fate of these superyachts will be a high-stakes test of the effectiveness of economic sanctions. For lawyers working for the oligarchs who own them, the seizures are acts of modern piracy.

Perhaps no single vessel exemplifies the array of headaches that seized superyachts have caused western governments more than the Amadea — a $300mn, 348ft boat detained by the US authorities in Fiji in 2022.

Such is its gaudy opulence that the Amadea could be a pastiche of an oligarch’s fantasies. According to a 2021 profile in Boat International, it boasts a Pleyel piano with 24-carat gold pedals, a swimming pool that converts into a stage for DJs, hand-painted Michelangelo clouds on the dining-room ceiling, a lobster tank and a helipad. 

When the US Department of Justice seized the Amadea, it claimed that it was owned by the sanctioned Dagestan-born gold magnate Suleiman Kerimov. The DoJ said he was “part of a group of Russian oligarchs who profit from the Russian government through corruption and its malign activity around the globe”.

Deputy US attorney-general Lisa Monaco announced at the time that the seizure “should tell every corrupt Russian oligarch that they cannot hide”. Not long after Amadea was seized in Fiji, she told the Aspen Security Forum that investigators had even discovered an “alleged Fabergé egg” aboard. It was later found to be an imitation.

The Amadea was then moved by the US authorities from Fiji to San Diego, where it is currently moored. The US government last October brought a civil forfeiture case against the superyacht based on its claim that it was owned by Kerimov. 

We have 60,000 litres of diesel on board. If there are problems with fire detection, that could be very dangerous. You can’t get a fire engine in here’ Captain Guy Booth

During the time the Amadea has been stuck in San Diego, it has racked up maintenance bills of $740,000 a month, or almost $9mn a year, to be paid by the US government. Because of this, the Department of Justice moved to try to sell the boat, arguing that the costs it was incurring were “excessive”. 

Superyachts require constant maintenance and upkeep to keep their seaworthiness, let alone their value. Crew salaries and vast mooring fees must be paid. Hulls must be scraped, engines must be cleaned.

“The water here is brackish, half freshwater and half seawater, so things grow in it,” Booth says about Phi. “We are constantly having to remove biological marine growth from the filters. The teak decks require constant daily attention.”

Sabotage is also a risk. Lady Anastasia, a yacht seized in Mallorca and owned by the CEO of the Russian arms exporter Rosoboronexport Alexander Mikheev, in February 2022 was almost destroyed by a Ukrainian mechanic working on the boat who tried to intentionally sink it.

Some boats have simply disappeared. In the summer of 2022, two yachts owned by Dmitry Mazepin, another sanctioned Russian billionaire, vanished from the Sardinian port of Olbia. An investigation by Italy’s financial police, which had seized both yachts shortly after Putin’s invasion of Ukraine, found that one had made a stopover in Tunisia before vanishing, while the other was spotted sailing towards Turkey. In response, Italy has hit Mazepin with fines, which remain unpaid.

Booth says he believes Phi has suffered significant damage, as well as lost charter earnings, as a result of being stuck in Canary Wharf. “I am not at liberty to discuss the exact figure,” he says, “but it is huge. We are talking tens of millions of pounds.” 

Because of the freezing order, Phi’s Dutch manufacturer is unable to perform warranty work on the yacht. One of many issues, Booth says, is that he has been unable to fix faulty fire protection systems.

“We have 60,000 litres of diesel on board. If there are problems with the fire detection systems, that could be very dangerous. Exceptionally dangerous. You could have an ecological disaster in central London. You can’t get a fire engine in here.”

In Phi’s case, the costs are all borne by its Russian owner, who — unlike many other owners of frozen yachts — is not sanctioned and has not been proven to have any meaningful connection to the Russian state. He will be able to get this money back from the UK government only if the restriction order is overturned and he can then win a successful damages claim.

For other superyachts, the burden of paying for upkeep falls on the countries where they are being held. Lady M, a yacht owned by the sanctioned Russian steel and mining magnate Alexei Mordashov, has been blocked from leaving the Italian port of Imperia as one of seven yachts belonging to Russian oligarchs in the country.

Another, Sailing Yacht A, designed by Philippe Starck and, at 468ft long, one of the largest private sail-assisted motor yachts in the world, is currently impounded in the port of Trieste. Alleged by the Italian state to be owned by the sanctioned Russian oligarch Andrey Melnichenko, the boat is estimated to have cost the Italian taxpayer more than €18mn in upkeep, according to the local newspaper Il Piccolo. Lawyers for Melnichenko have said he does not personally own the yacht, and instead it is controlled by a trust that has no connection to him.

Costs aside, seizing a superyacht is simple enough, provided it is in the right place. At the time of the invasion, the only way for sanctioned Russian oligarchs to protect their yachts was to be lucky or shrewd enough to not have them in territories or waters where they could be captured. In March 2022, two superyachts belonging to Roman Abramovich, one of them featuring an onboard missile defence system and anti-paparazzi “laser shield”, sailed away from Europe towards Turkey and remain free to this day.

But in an industry where it is common to own vessels through cascades of offshore companies and anonymous trusts, a far trickier task for investigators can be to prove in court who really owns a superyacht once it has been detained.

Legal tussles over the ownership of government-seized assets are common. The difference with the superyachts is the owners’ legal resources, the value of the assets and the cost to the taxpayer

In the case of the Amadea, the US government has been battling in court to prove that Kerimov is its true owner before it can be allowed to sell the yacht and stop paying the vast costs of its upkeep.

The Department of Justice appeared to have strong evidence to back up its claims, including records showing that Kerimov’s family spent large amounts of time on the Amadea, and that his children had requested structural modifications to the superyacht.

However, Kerimov denied ownership. Instead, a different wealthy Russian, Eduard Khudainatov, a former chief executive of the Russian state-owned oil company Rosneft, stepped forward to claim that he, in fact, was the true owner of the Amadea and the seizure was unlawful.

“When you need records from overseas, when you are dealing with shell companies in secrecy jurisdictions, or people are hiding behind nominee owners, it’s going to take a long time,” says Stefan Cassella, a former federal prosecutor who served 30 years in the US Department of Justice specialising in asset forfeiture.

Cassella says these sorts of legal tussles over who owns an asset that has been seized by a government are common. The difference in the case of oligarch-owned superyachts is the legal resources available to the owners fighting the seizures, the size and value of the assets, and the cost to the taxpayer of keeping them afloat.

“We litigate this all the time,” Cassella tells me. “Say a drug agent sees a dealer dealing from a Mercedes car and they want to seize it. He claims it’s not his car, that his mother or sister owns it. We then need to litigate with that person to see if they are really the owner. Who pays the insurance? Who brought it in to get oil changed? Whose garage is it sitting in? This is the same, just on a much larger scale.”

The US responded in a court filing to Khudainatov’s claim to own the Amadea by accusing him of being a “clean, unsanctioned straw owner” serving as a front for Kerimov. Khudainatov’s lawyers have denied he is a straw owner and say he is the legal owner of the yacht.

The picture was further muddied when it was alleged by the US in court documents that Khudainatov, who in June 2022 was placed under EU sanctions, was the fake owner of another, even more valuable and mysterious super yacht, the Scheherazade — which he has denied.

The Scheherazade, one of the longest yachts in the world, worth an estimated $700mn, was seized by the Italian authorities in the Tuscan port of Marina di Carrara in May 2022 because of its suspected “meaningful economic and business connections with prominent elements of the Russian government subject to EU sanctions”.

In 2022 the now deceased Russian opposition leader Alexei Navalny’s Anti-Corruption Foundation published an investigation that claimed that the Scheherazade was in fact owned by Putin himself, based on the fact that many of its crew were agents of the Federal Protective Service, a state security unit responsible for the Russian president’s personal safety.

The US authorities have argued it is impossible that one man could own so many yachts, writing in court documents that “there is no reason to believe [Khudainatov] has the financial resources to purchase the Amadea and the Scheherazade, or is there any apparent reason why a single individual would own multiple superyachts of their size”.

Whoever is the true owner of the Scheherazade, they have not let its seizure dim their ambitions. During the time it has been held in Tuscany, the Italian government has allowed the owner to pay for an expensive refurbishment. It is a decoration job that the owner clearly wants to conduct in privacy. When reporters from Radio Free Europe tried to get close to the vessel earlier this year the Scheherazade’s crew turned on fire hoses, and deployed a drone to follow them.

Meanwhile, last month a New York court ruled that the US government was not allowed to sell the Amadea, meaning that US taxpayers will have to continue for now to foot the bill for its upkeep. 

Even if governments are able to establish ownership and get court permission to sell a superyacht, further legal complexities can make finding a buyer difficult. In June 2023 the Alfa Nero, a yacht alleged to be owned by the US-sanctioned phosphate billionaire Andrey Guryev, which has been impounded in Falmouth Harbor, Antigua, was sold at auction for $67mn to former Google chief executive Eric Schmidt.

The deal later fell apart, with the US ambassador to Antigua announcing that Schmidt backed out of the purchase because he was worried about future legal problems if he bought it.

Yulia Guryeva-Motlokhov, Guryev’s daughter, this year launched a challenge to the Antiguan government’s decision to seize and sell the Alfa Nero, claiming that she is the sole beneficiary of the trust that owns the yacht, rather than her father. The case is expected to be heard in September.

Back in the UK, Booth, the captain of Phi, believes that the yacht and its owner have been unfairly caught up in events outside of their control. “He’s not a billionaire, he’s never met Putin,” Booth says of Phi’s owner Sergei Naumenko. “He’s against the war. He’s just a private Russian gentleman who likes boats.” 

Phi will make another bid to be freed in the UK’s Supreme Court, in an appeal to be heard next January.

Captain Booth says he will not desert his ship. “My team and I have remained on board, remained loyal. I’ve won numerous awards for what I do in my industry. I could have left almost straight away, and said, ‘This is not my bag, I’m off to captain another superyacht in the Med’ . . . I would not sleep well at night if I abandoned this owner.”

But Booth and his crew may be waiting a long time. Cassella, the forfeiture lawyer, says he expects many cases to drag on for as long as a decade. “I thought two years ago when all the superyachts were seized that 10 years was an appropriate timeframe,” he says. “This is not going to be resolved any time soon.”

Miles Johnson is an investigative reporter for the FT. His book ‘Chasing Shadows: A True Story of Drugs, War and The Secret World of International Crime’ is now out in paperback

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Joe Biden withdraws

Barcelona to raise tourist tax for cruise passengers.

Cruise passengers visiting Barcelona are set to face a hike in tourist tax in a move aimed at clamping down on “mass tourism ” in the city.

Mayor Jaume Collboni said he would raise the fee paid by cruise passengers who visit the Catalan capital for less than 12 hours - which is currently set at €7 (£6) a day.

It comes after Mr Collboni, a member of the Catalan Socialist Party, announced controversial measures banning tourists from renting over 10,000 holiday lets listed in the city from 2028.

“Barcelona is a city that’s open to visitors and tourism is an important sector of its economy,” Mr Colboni told Spanish newspaper El Pais .

“That said, I’m determined to tackle the consequences that mass tourism is having for the city. That means going all the way with the ban on tourist flats in 2028. But we’re also going to substantially raise the tax for people on cruise stopovers.”

The mayor did not say by how much he was planning to raise the tax, saying only that studies had already been commissioned.

He added that the idea of the rise was not to deter cruise visitors but to ensure they paid their way and generated revenue that could be invested in projects such as installing air conditioning in schools.

Last month, Mr Collboni claimed home rental prices in the top holiday destination had soared by 68 per cent over the past decade with the cost of property ownership increasing by 38 per cent due to tourism.

In a move aimed at combatting the soaring figures, he announced holiday lets, advertised on platforms like Airbnb and Homeaway, would be made available to residents instead.

Mr Collboni’s opposition accused him of undermining property rights and claimed the move resembled the far-left regime of Venezuela.

The Association of Tourist Apartments of Barcelona said the change would lead to flats being illegally rented to tourists and claimed the policy was a “smokescreen” for the mayor’s failure on housing policy.

Barcelona’s government said it would maintain its “strong” inspection regime to detect potential illegal tourist apartments once the ban comes into effect.

Since 2016, it has ordered the closure of 9,700 illegal tourist apartments and almost 3,500 apartments have been recovered to be used as primary housing for local residents.

In recent months, thousands have protested in parts of Spain, including the Canary Islands, against the effects of mass tourism, which they claim is damaging the environment and driving locals out.

In June, thousands took to the streets of the Balearic Islands to protest against mass tourism and overcrowding dubbed “massification”.

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