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A Russian Oligarch’s $75 Million Superyacht Just Got Auctioned Off in Gibraltar

It's the first public sale of an oligarch's seized asset since russia invaded ukraine., rachel cormack.

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What becomes of a sanctioned Russian billionaire’s superyacht after it’s seized ? In the case of the $75 million Axioma , the end result was an auction for way below its market value.

The lavish 236-footer, which was seized from Russian steel magnate Dmitry Pumpyansky in March, attracted 63 bids at a sale in Gibraltar. A true watershed moment, it is the first public auction of an oligarch’s asset since Russian forces invaded Ukraine in February.

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The superyacht, which boasts six luxurious guest cabins, an infinity pool, a spa and a 3-D cinema, was detained by the Gibraltar government after a legal claim from JP Morgan said Pumpyansky’s holding company Pyrene Investments owed the bank more than $20 million.

The Office of the Admiralty Marshal in Gibraltar confirmed on Tuesday that 63 bids were received for Axioma , but refused to reveal the value of the bids, as reported by the Guardian .

“Axioma” docked in Marseille, France in June.  Gerard Bottino / SOPA Images

“The successful bidder will be selected by the Admiralty Marshal but details of the bidder and the value of the offer will remain confidential,” the court said in a statement. “Details about the sale value of the vessel will be made available once the transaction has been completed which could take place in approximately 10 to 14 days.”

James Jaffa, a lawyer for British firm Jaffa & Co, told the Guardian that he expects Axioma to sell for “way below” $20 million.

The west has confiscated billions worth of assets since March. British and American authorities have previously said they would seek to funnel the proceeds of sold assets back into Ukraine. This auction has attracted controversy, though, because Axioma has been sold not for the benefit of the Ukrainian people, but for the US investment bank.

Still, the has set a “benchmark” for other banks looking to recoup losses by auctioning assets.

“ Axioma will be a watershed moment for assets that have bank financing against them because all the other banks will realize that the asset can be sold and that they can get some or all of their money back,” Jaffa adds.

Rachel Cormack is a digital editor at Robb Report. She cut her teeth writing for HuffPost, Concrete Playground, and several other online publications in Australia, before moving to New York at the…

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Gibraltar sells Russian oligarch's yacht for $37.5 million

September 27, 2022 / 7:37 PM EDT / CBS/AFP

Gibraltar on Tuesday sold a superyacht belonging to Russian oligarch Dmitry Pumpyansky for $37.5 million following its seizure in March under Ukraine war sanctions, judicial authorities said.

Gibraltar's Admiralty Marshal, a specialist British maritime court that handles the sale of ships, did not release the buyer's name.

The 72-metre (236-foot) vessel, MV Axioma, was seized on March 22 following a complaint filed by the U.S. bank J.P. Morgan, authorities in the tiny British enclave at the southern tip of Spain said at the time.

The move came shortly after Pumpyansky — head of TMK, Russia's biggest manufacturer of steel pipes — was added to the list of tycoons targeted by EU and U.K. sanctions after Russia invaded Ukraine in February.

Gibraltar's Supreme Court had in June ordered that the yacht be sold at auction, with the Malta-flagged Axioma attracting 63 bids.

The funds raised will be used to compensate the oligarch's creditors.

In December 2021, J.P. Morgan granted a loan of 20.5 million euros ($21.7 million) to a company registered in the British Virgin Islands whose shareholders included a Cypriot firm owned by Pumpyansky.

But the bank saw Pumpyansky's inclusion on Britain's sanctions list as a breach of the loan contract since it led to the freezing of his assets.

Dozens of yachts allegedly tied to Russian oligarchs have been seized since Russia began its offensive in Ukraine seven months ago. In April, Dutch authorities seized 14 yachts , 12 of which were still under construction. U.S. and Spanish authorities took a $90 million super-yacht docked in Palma de Mallorca with ties to Viktor Vekselberg; and the U.S. also seized a $300 million vessel in Fiji.  Italy froze a $700 million mega-yacht linked to "prominent elements of the Russian government."

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Axioma superyacht to become first vessel seized under Russian sanctions to be auctioned

The £65m luxury craft will be sold by the gibraltar government on tuesday, with proceeds due to go to jp morgan not ukraine.

20 August, 2022

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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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Inside Axioma: The First Seized Superyacht To Go Up For Auction

Time for a sneak peek.

Designer superyacht Axioma is going to be the first seized Russian vessel to go to auction. It has a slightly unusual past though . Here’s how it used to look before it got put under lock and key (as well as a video showing the little-known side of superyachting you’ve probably never thought about).

News broke on Wednesday that Axioma, a gorgeous $75 million superyacht, will be the first seized Russian schooner to go to auction – in a single day, and without reserve.

Axioma was delivered in 2013 and owned by billionaire Dmitry Pumpyansky, who made his fortune in the gas and steel industries. According to Boat International , Axioma will be flogged off on August the 23rd, 2022. Axioma was seized by authorities in Gibraltar in March on the basis of an outstanding 12.5 million loan due to J.P. Morgan, which the yacht’s international management company had not paid. Around this time, authorities realised Pumpyansky was included on sanctions lists – and discovered he was the beneficiary (read: owner) of the vessel. 

Last month, a Gibraltar court ruled that Axioma should be sold at auction on an “as is, where is” basis, to give J.P. Morgan its money back. The fact that it’s a no reserve auction has sparked rumours it will sell for much less than it’s worth (its estimated value is $75 million).

Axioma is one of the rare Russian-owned superyachts that people could charter when its owner wasn’t using it. It was very popular and reading its list of features, it’s easy to see why. The 236-foot (72-meter) yacht easily takes 12 guests (and a crew of 20), has a jacuzzi on the sun deck, a pool, a steam room, a sauna, an owner suite with its own private deck, a smorgasbord of water toys, various lounge areas and a 3D private cinema.

As Autoevolution reports, it was built by Dunya Shipyard, delivered under the name Red Square, and was most recently refitted in 2020, “when it also received the striking turquoise-blue paint job on the hull.” Speaking of that striking blue paint job, videos on Youtube, by Jared Watney – a former employee on a superyacht and a luxury content creator – show what Axioma used to look like before it got put under lock and key in Gibraltar.

According to its page on Yacht Charter Fleet , Axioma was used for cruising around the Caribbean in winter (October to April) and the Mediterranean in summer (May to September). Cruising the Med would cost between 450,000 euros (AUD $655,000) and 635,000 euros (AUD $925,000) a week (plus expenses) and cruising the Caribbean would cost between 295,000 euros (AUD $430,000) and 595,000 euros (AUD $867,000) a week (plus expenses).

RELATED: Superyacht Captain Shares ‘Unbelievable’ High Sea Stories

Watney’s videos, posted in January 2022, before Axioma got seized, show what the superyacht looked like inside, and how it would prepare for guests (including one area of the boat where everything could be moved to create a dance floor). He has also shown off the side of yachting you don’t often see, showing what happens on a superyacht when it’s in between guests, explaining why crew can actually be busier at that time than at any other.

Have a gander at the above video if you’re interested. And if you’ve got $75 million USD burning a hole in your pocket, why not take a trip to Europe on August the 23rd and take a punt at buying Axioma yourself…

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Take a look inside this floating moneybag before it goes under the hammer. 

The five-deck, glass elevator-equipped Axioma yacht will soon be sold to the highest bidder after being removed from the possession of its former owner, the Russian oligarch Dmitry Pumpyansky. 

The 236-foot vessel (originally known as Red Square) was seized by Gibraltar in March, following Russia’s invasion of Ukraine. It has the dubious honor of being the first Gibraltar-seized, Russian-owned superyacht to go up for auction since the start of the war, Insider reports . 

Built in 2013, the Axioma is currently valued at $75 million, costs about $7.5 million to run annually and — before being seized to repay Pumpyansky’s debt to JPMorgan — was available to charter for approximately $633,000 a week, reports the website SuperYachtFan . The ship features a steam room, a sauna, a bridge deck gym, a glass elevator, a helipad and a 3D movie theater — and comes with its own water skis, scuba diving equipment, snorkeling equipment and kayaks, according to its YachtCharterFleet profile . 

Alfresco dining areas abound, and there’s also a double-height salon with mezzanine and an “uber-chic infinity pool on main deck.”

There are five staterooms (one VIP suite, two doubles and two convertible twin cabins), each with their own color scheme, in addition to the skylit primary suite.

“Once in the Master bedroom, you will immediately be awestruck by the 180 degrees of panoramic windows,” the auction website boasts. “The ceiling can also be opened to reveal a glass roof for laying under the stars.”

The overall vibe is intended to be “contemporary beach house style,” the designer said, choosing to rebel against the “stiff formality of a glitzy hotel-inspired interior expected to be found on a yacht,” according to the YachtCharterFleet.

The auction follows JPMorgan winning a court order in Gibraltar this July, approving the boat’s sale after Pumpyansky reneged on a $20.6 million loan associated with the ship, Bloomberg reports . 

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Superyacht Seized From Sanctioned Russian Billionaire Sells for Undisclosed Amount

By Victoria Scott

Posted on Aug 23, 2022 2:44 PM EDT

Russian billionaire Dmitry Pumpyansky is really just your average oligarch. He’s tied to a $2 billion dollar net worth, alleged close ties to Vladimir Putin , a private art gallery , and of course, a 236-foot superyacht with a dozen bedrooms on board. Or at least he did own the yacht, until earlier this year when J.P. Morgan seized it , followed by then auctioning it off on Tuesday.

The reason for the seizure is directly due to international sanctions on Russian oligarchs in the wake of Russia’s invasion of Ukraine . Pumpyansky, who has been identified by the U.S. government as an oligarch in the 2017 Countering America’s Adversaries Through Sanctions Act, served as the guarantor of a $20 million loan with JP Morgan when the invasion began. He, along with many other Russian billionaires, was sanctioned shortly after the invasion . As a result, and according to court papers obtained by Reuters, the sanctions ultimately “constitut[e] an event of default,” as it is now legally impossible for Pumpyansky to pay back the loan. As collateral for the defaulted loan, JP Morgan seized the superyacht and brought it to public auction at the Gibraltar Admiralty Court (where the ship was impounded). It’s the first seized Russian yacht actually sold on the open market, rather than just confiscated, since sanctions began earlier this year.

The yacht itself is the Axioma, a 236-foot-long vessel launched in 2013 that was formerly available as a charter ship. As the listing and photos highlight, it has a beach-house style interior designed by Alberto Pinto , and it features a 3D cinema room, multiple jacuzzis, a steam room and sauna, a gym, onboard jet-skis, and an inflatable water slide that stretches from the sun deck to the water itself. It was nominated as a finalist for several 200+ foot yacht awards, which I did not know existed.

The original cost of the yacht was $75 million (and it was going for nearly $550,000 a week during peak season as a charter vessel). According to the Guardian , which spoke with the broker of the auction, there was an “unexpected late surge” of interest from potential buyers who wanted to pick up the Axioma as a “bargain” at auction. According to the broker, 30 people flew into Gibraltar where the vessel was docked to check it out in person before it was sold Tuesday. It’s unknown if anyone did actually get a deal on the Axioma, as it was sold at a sealed-bid auction, but I’m going to wager a guess that if you have to ask, you probably couldn’t afford it anyway.

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A multimillion-dollar superyacht once owned by a Russian oligarch has gone to auction

Dustin Jones

The Axioma superyacht, seen in Gibraltar in March, once belonged to Russian oligarch Dmitrievich Pumpyansky. The vessel was seized last March in accordance with sanctions imposed by Britain and the European Union. It will be auctioned off Tuesday, with the proceeds going to JP Morgan Chase. JON NAZCA/REUTERS hide caption

The Axioma superyacht, seen in Gibraltar in March, once belonged to Russian oligarch Dmitrievich Pumpyansky. The vessel was seized last March in accordance with sanctions imposed by Britain and the European Union. It will be auctioned off Tuesday, with the proceeds going to JP Morgan Chase.

A superyacht once belonging to a Russian billionaire went to auction Tuesday in the British territory of Gibraltar. The vessel, estimated to have a value in the tens of millions of dollars, was seized in March as part of Western sanctions against Russia following the invasion of Ukraine.

Gibraltar's Admiralty Marshal was tasked with appraising and selling the yacht, which received 63 bids, according to court documents. Its official appraised value is "a confidential matter which cannot be disclosed," although outside estimates reportedly place it anywhere from $42 million to $75 million. Details about who ultimately purchases the vessel and for what price will be made public when the transaction is complete.

Measuring 236 feet long and weighing over 1,600 tons, the Axioma is a sight to behold. It can accommodate 12 guests in six cabins — along with a 20-person crew in 12 other rooms — and features a gymnasium, full-service spa, infinity pool and luxury cinema, as stated on the Howe Robinson Partners auction site.

The cost to charter the Axioma for a week runs an average of roughly $500,000 , not including other operating costs, according to Yacht Charter Fleet.

The former owner of the ship is Dmitrievich Pumpyansky, once Russia's largest steel pipe manufacturer and currently worth $2 billion, according to Forbes . Unfortunately for Pumpyansky, he was sanctioned by Britain and the European Union after the invasion.

Other superyachts owned by Russian oligarchs have been detained as a result of the sanctions, but the Axioma is the first to be sold off, the Guardian reported.

Despite calls for the proceeds of the sale to benefit Ukraine, the funds will instead be paid to JP Morgan Chase. According to the Guardian, the international bank had a loan agreement with Pumpyansky's holding company, Pyrene Investments.

However, the sanctions against Russia prevented JP Morgan Chase from accepting payments from the holding company, breaching the agreement, and the bank filed a legal claim to have the vessel seized and sold at auction.

Other superyachts belonging to Russian elites have been detained all over the world — including the Amadea, which was seized in Fiji at the request of the United States in May. That $300 million yacht belonged to Suleiman Kerimov, a Russian gold producer worth over $12 billion, according to Forbes .

The fate of the Amadea is uncertain, however; it, too, could be sold to the highest bidder, which would be in line with President Biden's aims to hold Russian oligarchs accountable for their role in the invasion and, potentially, use the proceeds to aid Ukraine.

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.

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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

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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

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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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Even though it had no reserve price, Axioma, the first seized superyacht to be auctioned, was sold to a mystery buyer for a respectable $37.5 million. Most of the sale proceeds will go to JPMorgan, one of the largest US banks.

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The $325 million Amadea megayacht is proving to be a big headache for the United States. The vessel’s crew still remains very loyal to the sanctioned oligarch and has refused to sail from Fiji to the US with the authorities.

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The long tale of the yacht linked to a Russian oligarch and abandoned in the Caribbean for more than 2 years finally draws to a close

• An undisclosed buyer picked up the Alfa Nero for $40 million last week.
• The yacht was originally seized from a Russian oligarch in 2022.
• The sale ended an ownership tug-of-war, which included ex-Google CEO Eric Schmidt.

An undisclosed buyer has finally stepped up to the helm of the Alfa Nero superyacht, ending a two-year-long saga, Bloomberg reported on Tuesday.

That buyer agreed last week to pay $40 million, a huge discount to the $67.6 million that former Google CEO Eric Schmidt bid last year, a deal he eventually abandoned.

The Antigua and Barbuda government sold the superyacht, which houses an infinity pool that converts to a helipad or dancefloor.

The massively discounted price can be attributed to authorities' need "to get the boat sold," Richard Higgins, a broker who represented the buyer, told Bloomberg.

Higgins said the European buyer, whose identify was kept secret, intends to put the superyacht on the charter market.

The person "is not included in the sanctions list of any country or institution," Ronald Sanders, Antigua and Barbuda's ambassador to the US, told Bloomberg.

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The 267-foot-vessel was seized by Antigua and Barbuda authorities after it was linked to Russian oligarch Andrey Guryev, who was accused by the US Treasury Department of having close ties to Russian President Vladimir Putin. Guryev is the founder of Phosagro, Europe's largest producer of phosphate fertilizers, according to the Bloomberg Billionaires Index .

The Alfa Nero was among dozens of superyachts seized following global sanctions against Putin's closest associates, which led to billions of dollars in frozen assets.

The Alfa Nero's maiden owner was Guryev, who purchased the vessel for $120 million, according to the US Treasury and the Antigua and Barbuda government . The Russian billionaire had adamantly denied ownership.

After the vessel was seized in 2022, it remained docked in Antigua's Falmouth Harbour, which cost residents of the Caribbean nation $28,000 in weekly tax dollars for maintenance, which took as many as 44 crew members . The superyacht was then valued at $81 million.

In 2023, the Antigua and Barbuda government put the Alfa Nero up for auction, citing hazards due to a lack of maintenance.Eric Schmidt initially won the bidding, for $67.6 million , but eventually backed out after Guryev's daughter claimed ownership of the superyacht.

The most recent acquisition of the Alfa Nero finally ends its ownership limbo, during which it racked up millions of dollars in port fees under the custody of the Antigua and Barbuda authorities, Darwin Telemaque, the Alfa Nero's port manager, told Bloomberg.

Last year, the Wall Street Journal reported that Antigua and Barbuda taxpayers were footing a $28,000-a-week bill to maintain the Alfa Nero, including the salary of an Italian captain and $2,000-a-day in diesel to keep its air conditioning running. That's because if the AC is turned off, it could let mold spread throughout the vessel and ruin the hardwood interior or a Joan Miró painting onboard, per the WSJ.

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

• Main content

Superyacht abandoned by a Russian fertilizer billionaire has a new secret owner, who got it for a huge discount

The Alfa Nero superyacht, which has been abandoned in the Caribbean for more than two years, has a new owner.

The 267-foot (81-meter) vessel, complete with a baby grand piano and a swimming pool that turns into a helipad, sold for $40 million last week, said Ronald Sanders, Antigua and Barbuda’s ambassador to the US. He declined to name the buyer, citing a confidentiality agreement.

The sale marks the latest attempt to end the years-long Alfa Nero saga. A Russian oligarch abandoned the luxury yacht in Antigua in March 2022, after being sanctioned by the US Treasury. Then tech billionaire Eric Schmidt tried buying it at auction, only to  give up  when the sale became a legal quagmire. 

Meanwhile, the vessel sat in Antigua’s Falmouth Harbour being tended to by a skeleton crew and costing over a $100,000 a month to maintain.

At $40 million, the new Alfa Nero owner will end up paying far less than the $67.6 million that Schmidt, a former Google CEO, had offered last year. Sanctioned Russian fertilizer billionaire Andrey Guryev had originally bought the Alfa Nero in 2014 for $120 million, the US Treasury Department said — which Guryev denies. 

His daughter, Yulia Gurieva-Motlokhov, later stepped forward to claim ownership of the yacht, triggering a legal dispute.

“It’s not worth 40 million, it’s worth way more,” said Richard Higgins, a broker with Northrop & Johnson who represented the undisclosed buyer. “They needed to get the boat sold.”

Higgins said the new owner is European and will likely put the Alfa Nero on the charter market.

The Alfa Nero is among more than a dozen superyachts pinned down in ports around the globe after Russia’s full-scale invasion of Ukraine in 2022 brought a series of economic sanctions against Russian oligarchs. Many of the vessels have been stuck in limbo amid costly legal disputes and racking up maintenance costs.

The Phi superyacht has been moored in London since 2022 while other vessels are stuck in Italy and Spain. There’s also the Amadea, a 348-foot ship with a lobster tank and hand-painted clouds on the dining-room ceiling, which was seized from its alleged oligarch owner in Fiji and now sits in California. Last month, a New York court denied the US government’s request to sell the Amadea, Voice of America  reported .

Alfa Nero’s new owner “is not included in the sanctions list of any country or institution,” Ambassador Sanders said.

The latest attempt to sell the Alfa Nero was brokered through a private contract, the port manager, Darwin Telemaque, said in a phone call. He also declined to name the buyer. Telemaque expects the proceeds will cover the millions of dollars in port fees the Alfa Nero has racked up.

“I am very happy that the ship is no longer the responsibility of the people and the government of Antigua and Barbuda,” he said. 

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