Ukraine war: Russian-owned superyacht named Phi and worth £38m seized in London

The superyacht, which was in London for an awards ceremony, is 58.5 metres long and features what is described as an "infinite wine cellar" and a freshwater swimming pool.

russian yacht seized in london

Political reporter @itssophiemorris

Wednesday 30 March 2022 12:43, UK

Phi. Pic: NCA

A superyacht owned by a Russian businessman has been detained in London as the UK government continues to impose sanctions due to the ongoing war in Ukraine.

Transport Secretary Grant Shapps confirmed that on Tuesday, UK officials boarded the vessel named Phi which was in Canary Wharf in east London.

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"Today we've detained a £38 million superyacht and turned an icon of Russia's power and wealth into a clear and stark warning to Putin and his cronies," Mr Shapps said.

"Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from connections to Putin's regime."

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The Department for Transport said it worked with the National Crime Agency and the Border Force Maritime Investigation Bureau to identify and detain the vessel.

The government did not reveal the name of the superyacht's owner, but described her ownership as "deliberately well hidden".

Phi. Pic: NCA

Phi is registered to a company based in the Caribbean dual-island nation of Saint Kitts and Nevis and carries a Maltese flag.

The Department for Transport added that it is "looking at a number of other vessels" and hopes its "strong stance sends an example to international partners".

Phi. Pic: NCA

Following the detention of the vessel, Prime Minister Boris Johnson's official spokesperson told reporters that the UK government "will continue to take robust action against anyone benefitting from Russian links".

"For the first time ever in UK waters, we have detained a Russian superyacht - the £38 million, Phi," he said.

"The Department for Transport has worked closely with the National Crime Agency and Border Force Maritime Investigation Bureau to intercept the superyacht and will continue to take robust action against anyone benefitting from Russian links"

Phi - a vibrant bright blue superyacht named after a mathematical concept - is double the size of the other boats docked around it at Canary Wharf.

The vessel was built in the Netherlands and she made her maiden voyage last year.

Phi. Pic: NCA

Speaking after the vessel's detention, Mr Shapps said Phi "won't be going anywhere".

"It was here for refit, won't be going anywhere, and it's just another indication that we will not stand by whilst Putin's cronies are allowed to sail around the world in these kinds of yachts and people in Ukraine are suffering," he said.

"When you see what he's doing to Ukraine, when you see what he's doing to people's lives, it can't be right to have a yacht like this here in London, able to just sail away and that is why we've impounded it, and denied it ability to go anywhere right now, and it's another indication of how seriously we take these matters."

🚨BREAKING: Russian superyacht detained. I have worked closely with @NCA_UK & the @UKBorder ’s Maritime investigation Bureau to intercept the £38m - Phi. This Government will continue to take robust action against anyone benefiting from connections to Putin’s regime. pic.twitter.com/enp9M2tmBB — Rt Hon Grant Shapps MP (@grantshapps) March 29, 2022

The government later clarified that the owner of the vessel is not currently subject to UK sanctions.

The move came as the prime minister's official spokesman said Mr Johnson told his Cabinet that "a ceasefire alone would not be cause for UK sanctions to be removed in Russia".

Phi. Pic: NCA

"He said the pressure on Putin must be increased both through further economic measures and providing military aid to ensure Russia changes course completely," the spokesman told reporters.

Number 10 added that the UK government's view on sanctioning outgoing Chelsea owner Roman Abramovich has not changed in light of his involvement in peace talks over the Russian invasion,

It comes as the Russian businessman was reported to be in Turkey for discussions on Tuesday.

Earlier in the day, the Foreign, Commonwealth and Development Office said claims that the Chelsea FC owner suffered suspected poisoning during attempts to aid peace talks in Ukraine are "very concerning".

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Roman Abramovich seen attending peace talks in Turkey

The UK government has already imposed asset freezes and travel bans on a number of wealthy individuals as well as sanctioning certain Russian banks, limiting the ability of Russian companies to raise finance on the UK markets.

Ministers have also banned Russian carrier Aeroflot from landing in the UK.

But although it has announced it will phase out imports of Russian oil by the end of this year, it has stopped short of imposing a ban on the purchase of Russian gas.

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UK detains £38m superyacht owned by Russian businessman and docked in London’s Canary Wharf

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The government today announced it has ordered its first detention of a superyacht in UK waters.

The £38m vessel is owned by an unnamed Russian businessman, the ownership of which ministers said is “deliberately well hidden”.

The luxury ship was in London for a superyacht awards ceremony and was due to depart at noon on Tuesday.

It comes as peace talks are underway over the war in Russia and Ukraine .

The transport secretary described the move as “a clear and stark warning to Putin and his cronies”.

Transport secretary grant Shapps by the superyacht

Phi, a vibrant blue superyacht, is reported to be double the size of the other boats docked around it at Canary Wharf , east London.

The 58.5m-long ship features an “infinite wine cellar” and a “patented” freshwater swimming pool.

Speaking to the PA news agency, Grant Shapps said: “Now the ship is being held, it won’t be going anywhere.

russian yacht seized in london

“It was here for refit ... and it’s just another indication that we will not stand by whilst Putin’s cronies are allowed to sail around the world in these kinds of yachts and people in Ukraine are suffering.

“When you see what he’s doing to Ukraine, when you see what he’s doing to people’s lives, it can’t be right to have a yacht like this here in London, able to just sail away and that is why we’ve impounded it, and denied it ability to go anywhere right now, and it’s another indication of how seriously we take these matters.”

He added: “Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from connections to Putin’s regime.”

The Department for Transport (DfT) worked alongside with the National Crime Agency and the Border Force Maritime Investigation Bureau to identify and detain the vessel.

russian yacht seized in london

It refused to reveal the name of its owner, stating that he is “a Russian businessman”.

The boat is registered to a company based in the Caribbean dual-island nation of Saint Kitts and Nevis, and carries a Maltese flag.

The DfT said it is “looking at a number of other vessels” and hopes its “strong stance sends an example to international partners”.

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Mystery Russian superyacht worth £38m seized in London in 'warning to Putin'

UK officials boarded Phi - owned by a Russian businessman - in Canary Wharf, east London, on Tuesday and detained it under sanctions imposed after the invasion of Ukraine

The superyacht, called Phi, has been detained in Canary Wharf

  • 17:30, 29 Mar 2022
  • Updated 17:49, 29 Mar 2022

A superyacht has been detained in London as part of sanctions against Russia , Transport Secretary Grant Shapps has announced.

UK officials boarded Phi - owned by a Russian businessman - in Canary Wharf, east London on Tuesday.

The vessel is the first to be detained in the UK under sanctions imposed because of the war in Ukraine .

Phi - named after the mathematical concept - made her maiden voyage last year after being built in the Netherlands.

She is 58.5 metres long and features what is described as an "infinite wine cellar" and a freshwater swimming pool.

The vessel was in London for a superyacht awards ceremony and was due to depart at noon on Tuesday.

Do you know who owns this super yacht? Email [email protected]

Mr Shapps said: "Today we've detained a £38 million superyacht and turned an icon of Russia's power and wealth into a clear and stark warning to Putin and his cronies.

"Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from connections to Putin's regime."

The Phi seemed largely abandoned with just one crew member spotted on board, while boxes and bin liners full of cleaning products lay on the dock beside.

Boat mechanic, Inigo Lapwood, 28, lives on a barge in the North Quay where the superyacht has been docked since arriving in the capital on December 11.

He said: “It’s been there for around three months, it arrived here on 11 December last year.

“There’s lots of boats and yachts like that which turn up here so it’s not that unusual, it’s not even the most impressive one I’ve seen here.

“It’s just a display of wealth, when you’ve got a boat like that the only purpose is to show it off.

“There’s probably about a dozen members of crew on board, there’s six faces I regularly see. They spend most of their time just cleaning the boat, I’ve never seen the owner.”

Boat International reported that the Phi set sail from Royal Huisman's build facility in Vollenhove, Netherlands, in November.

Royal Huisman chief executive Jan Timmerman described the delivery as "a moment of great pride".

"It is also bittersweet, having to say farewell to PHI, as her creation has been part of our daily lives for several years. At the same time, we know that PHI and her shadow vessel will conquer the oceans."

The Department for Transport (DfT) said it worked with the National Crime Agency and the Border Force Maritime Investigation Bureau to identify and detain the vessel.

It refused to reveal the name of her owner, stating that he is "a Russian businessman".

The department described Phi's ownership as "deliberately well hidden".

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She is registered to a company based in the Caribbean dual-island nation of Saint Kitts and Nevis, and carries a Maltese flag.

The DfT said it is "looking at a number of other vessels" and hopes its "strong stance sends an example to international partners".

It comes after Russian oligarch Alisher Usmanov claimed he managed to dodge UK sanctions by putting his UK properties and yacht out of the law’s reach.

A spokesman for the billionaire, who has had ties to Arsenal and Everton football clubs, said most of his UK assets were transferred into trusts before Boris Johnson imposed sanctions.

Ministers sanctioned Mr Usmanov earlier this month because of his “close links to the Kremlin” as they seek to punish Russian President Vladimir Putin for waging war.

The Government said he owns Beechwood House in Highgate, north-west London, and estimated it is worth £48 million, as well as the 16th century Sutton Place estate in Surrey.

But a spokesman, quoted by the BBC and the Guardian, said most of his UK property and his yacht had already been “long ago transferred into irrevocable trusts”.

“From that point on, Mr Usmanov did not own them, nor was he able to manage them or deal with their sale, but could only use them on a rental basis. Mr Usmanov withdrew from the beneficiaries of the trusts, donating his beneficial rights to his family,” he added.

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UK seizes superyacht of unknown Russian businessman docked in London

A superyacht believed to be owned by a Russian businessman has been seized by UK authorities, Grant Shapps has confirmed.

The superyacht, known as Phi, was boarded by UK authorities in Canary Wharf , where it was docked on Tuesday.

The Transport Secretary said the yacht is reportedly valued at £38million and had been in London for an awards ceremony.

The 58.5 metre vessel contains a freshwater swimming pool and a wine cellar and was due to leave at 12pm.

Russian invasion of Ukraine

Mr Shapps said: "Today we’ve detained a £38 million superyacht and turned an icon of Russia’s power and wealth into a clear and stark warning to Putin and his cronies.

"Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from connections to Putin’s regime."

The Department for Transport (DfT) said it worked with the National Crime Agency and the Border Force Maritime Investigation Bureau to identify and detain the vessel.

The name of the Russian businessman linked to the yacht is unknown but the vessel is believed to be registered to a company based in Saint Kitts and Nevis.

russian yacht seized in london

The DfT said it will look into more vessels to detain as part of the UK’s sanctions programme against Russian businessmen with links to Vladimir Putin.

Mr Shapps added: “Now the ship is being held, it won’t be going anywhere.

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"It was here for refit, won’t be going anywhere, and it’s just another indication that we will not stand by whilst Putin’s cronies are allowed to sail around the world in these kinds of yachts and people in Ukraine are suffering.

"When you see what he’s doing to Ukraine, when you see what he’s doing to people’s lives, it can’t be right to have a yacht like this here in London, able to just sail away and that is why we’ve impounded it, and denied it ability to go anywhere right now, and it’s another indication of how seriously we take these matters."

Last week the UK announced a further 65 new sanctions against Russian individuals and entities.

The Government has now sanctioned more than 1,000 individuals and entities following the invasion of Ukraine.

Among those most recently sanctioned were individuals linked to the Wagner Group, a mercenary organisation and Polina Kovaleva, the Russian foreign minister Sergei Lavrov’s stepdaughter, who reportedly owns a £4m house in London.

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UK seizes Russian-owned superyacht in London

The Phi, believed to be owned by a Russian businessman, was found in Canary Wharf

The Phi is worth an estimated £38m

Grant Shapps has seized the first Russian superyacht in British waters as part of sanctions against the Kremlin. The 58m (192ft) Phi, worth an estimated £38m, was barred from leaving Canary Wharf at midday.

Its ownership is "deliberately well hidden" but is believed to be linked to an unnamed Russian businessman. The Transport Secretary said the detention sent "a clear and stark warning to Putin and his cronies".

Mr Shapps visited Canary Wharf on Tuesday to formally seize the vessel after an investigation between the Department for Transport, National Crime Agency and Border Force Maritime Investigation Bureau.

The yacht was first identified as potentially Russian-owned on March 13. It was planning to leave its east London mooring earlier on Tuesday.  Its maiden voyage was from Ijmuiden in the Netherlands to London on Dec 10. It has remained in Canary Wharf since, according to the website MarineTraffic. The yacht can accommodate up to 12 guests and boasts six staterooms. Built from aluminium, its Dutch shipbuilders said it has a swimming pool and infinity wine cellar.

Mr Shapps said: “Today we’ve detained a £38m superyacht and turned an icon of Russia’s power and wealth into a clear and stark warning to Putin and his cronies.

Transport Secretary Grant Shapps by the superyacht Phi owned by a Russian businessman in Canary Wharf, east London which has been detained as part of sanctions against Russia. The vessel is the first to be detained in the UK under sanctions imposed because of the war in Ukraine. Picture date: Tuesday March 29, 2022

“Detaining the Phi, proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from Russian connections.”

The Phi is the third-biggest yacht built by shipbuilders Royal Huisman. Its chief executive, Jan Timmerman, described the delivery as "a moment of great pride for our team". He added: "It is also bittersweet, having to say farewell to Phi, as her creation has been part of our daily lives for several years. At the same time, we know that Phi and her shadow vessel will conquer the oceans."

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UK detains Russian-owned superyacht in London's Canary Wharf

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Detained Russian-owned superyacht Phi is seen in West India and Millwall Docks in London

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In the dock: Oligarch’s stranded superyacht haunts the UK's drive for Russia sanctions

The phi remains moored in london after sergei naumenko lost the latest round in his legal battle to get it back.

Detained Russian-owned superyacht Phi in London's West India and Millwall Docks in March 2022.  Reuters

Detained Russian-owned superyacht Phi in London's West India and Millwall Docks in March 2022. Reuters

For commuters on their way to work on a chilly London morning and locals walking their dogs, the Phi doesn’t appear even to warrant a glance as they pass its striking profile.

The superyacht remains moored in the UK’s capital after being seized from its Russian owner in the weeks after Vladimir Putin ordered his troops into Ukraine , and not long after its launch as the latest star on the superyacht scene.

With its sleek lines and skyscrapers backdrop, the Phi became a symbol of the push to respond to President Putin's invasion of Ukraine. The UK’s then Transport Secretary Grant Shapps popped up in a TikTok video beside the vessel, announcing: “It's a yacht which belongs to a Russian oligarch, friends of Putin,” as the National Crime Agency, the UK’s equivalent of the FBI, seized the Phi.

Almost two years later, Mr Shapps has moved on to oversee the UK's support for Ukraine as Defence Secretary, but the Phi is still moored in east London amid growing questions over whether the western sanctions drive against the Kremlin has been all symbolism and no bite.

One thing is for sure, the owner, Sergei Naumenko, isn't going to get to play with his €44 million (£38 million) toy any time soon. A UK court last week rejected his latest attempt to free the vessel.

The continued detention of the yacht has, however, raised the question of whether sanctions imposed on Russians, both as a result of the war in Ukraine and stemming from allegations of corruption, are effective in achieving their goals or are more to do with PR.

Experts The National has spoken to say there continue to be loopholes wealthy Russians can exploit to hide their wealth in the UK. While some assets have been frozen, none have been seized outright. Meanwhile, Russia itself continues to trade with the world.

“I think there’s a lot of questions about whether in this particular instance, it was more driven by PR than a tangible public policy outcome,” said Steve Goodrich from the campaign group Transparency International.

“Until we see either individuals before the courts or assets being taken away from them, it looks like sanctions are a bit of a paper tiger."

In the meantime, the 58.5-metre Phi remains part of the furniture at London’s Canary Wharf.

“We’ve been here since June and to be honest we don’t pay much attention to it,” a woman, out with her husband walking their two dogs, told The National.

“We’ve seen people on it now and again who look like they're doing maintenance. I heard it’s owned by a Russian oligarch but that’s all I know,” added the woman, who asked not to be identified.

The Phi has been moored in London since December 2021, when it arrived from the Netherlands after being completed by the prestigious Royal Huisman Shipyard.

It was only due to stop over in London to participate in the World Superyacht Awards before heading to Malta.

Mr Naumenko owns it through a front company registered in St Kitts and Nevis.

National Crime Agency officers seizing the superyacht Phi in London. Photo: PA

Mr Naumenko, who is adamant he has no connection to the Russian government and has never held any elected or official position, sued to get the superyacht back but in July 2023 a judge rejected the bid, and his appeal against that decision was thrown out this week.

While himself not a sanctioned individual, under UK law his assets can still be frozen if he is deemed to have benefited from the current Russian regime to the extent that he can afford a superyacht.

There was some consolation for him in the ruling when the judges said they were “troubled” by Mr Shapps' “incorrect statements” regarding Mr Naumenko and said these “ought not to have been made”, though ultimately they made no difference to the outcome.

Angelika Hellweger, a lawyer who is a sanctions and financial crime expert, told The National that actions such as detaining the Phi are "done by the West in a PR light to show the Russian elite what will happen to them and hope it has a deterrent effect".

“Moving against yachts and cars and so on is mainly a statement that they will go after them wherever they are and to show Putin and the people around him that the West won’t tolerate them," said Dr Hellweger, legal director at London law firm Rahman Ravelli.

She explained that while the term "seized" is in common parlance when talking about physical assets, they are in fact technically frozen – like a bank account might be – as they have not yet been confiscated.

When it comes to the wider sanctions regime, she said Russia, in common with many other countries in similar situations, has managed to find ways around them.

She cited the example of Russia being able to cope with the impact of the sanctions through a series of informal and shadow trade networks with neighbouring countries such as Kazakhstan and Belarus.

“You cannot isolate an economy forever, in particular one so integrated with the rest of the world, with globally important commodities such as oil and gas, like Russia, on which the West is very much dependent.”

The UK's Department of Transport says Mr Naumenko is picking up the bill for mooring, maintenance and any other charges relating to the Phi's detention.

By some estimates, the cost of maintaining a superyacht amounts to 10 per cent of its cost price, though that's likely to be lower given it's not consuming a large amount of fuel while berthed.

Locals say they see staff maintaining the superyacht in the Docklands area of London: Photo: Getty Images

The Phi is among a number of superyachts linked to sanctioned Russian owners that have been detained. Some have been sold, including the Axioma, which was auctioned by the government of Gibraltar in 2022.

So far there has been no indication the UK authorities are looking to confiscate the Phi from Mr Naumenko, a property developer, as they did with the artwork seized from Nazem Ahmad , the alleged Hezbollah financier.

If it were to be put on the market there would be no shortage of potential buyers prepared to pay more than the original price, says superyacht broker Tim Johnson.

“It’s a pedigree yacht and it’s quite a unique design made by a pedigree shipyard,” Mr Johnson, the founder and chief executive of TJB Superyachts, told The National.

“A couple of years ago there was a big stigma with the past history of a yacht such as this but I think people have got past [that], so for some owners out there, they won’t mind that it was built for and owned by a Russian."

Mr Johnson explained that with the years-long wait for a new Royal Huisman yacht to be built, and with inflation pushing up the cost of building new vessels, it’s entirely possible the Phi would fetch more than its list price.

“It would take you four or five years to do something similar and with the time and man-hours that went into it, yachts at that level really hold their value for quite some time," he said.

“So to build this yacht again from start to finish today, you'll probably pay upwards of €70 million. So he could probably look to sell it for around €60 million.”

In the meantime, Mr Naumenko’s legal battle to get the yacht returned continues, said Sir Ian Collett, director of superyacht consultants Ward & McKenzie, who have been representing him.

“Our client’s solicitors and counsel are currently considering the detailed judgment with a view to seeking leave to appeal to the Supreme Court,” Sir Ian told The National.

Among them were a “number of issues within the judgment in which they disagree, and they may form the background to an appeal", in particular the fact that the Court of Appeal found that the Secretary of State for Transport made statements which were “incorrect”.

That the Court of Appeal found that these incorrect statements made no difference to the outcome is “something which we do not accept”.

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russian yacht seized in london

Ukraine invasion — explained

The roots of Russia's invasion of Ukraine go back decades and run deep. The current conflict is more than one country fighting to take over another; it is — in the words of one U.S. official — a shift in "the world order." Here are some helpful stories to make sense of it all.

A $49M Russian superyacht has been detained by U.K. officials near London

Rachel Treisman

russian yacht seized in london

The newly-detained superyacht Phi is pictured while docked in Canary Wharf in east London on Tuesday. James Manning - PA Images/PA Images via Getty Images hide caption

The newly-detained superyacht Phi is pictured while docked in Canary Wharf in east London on Tuesday.

Officials in the United Kingdom say they've detained a Russian-owned superyacht docked near London, a first under new sanctions imposed over Russia's invasion of Ukraine.

The $49.67 million yacht, which is named Phi, belongs to an unnamed Russian businessman and was docked in the Canary Wharf financial district of London, according to the government.

"Today we've detained a 38 million pound superyacht and turned an icon of Russia's power and wealth into a clear and stark warning to Putin and his cronies," Transport Secretary Grant Shapps said in a statement reported by Reuters . "Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from Russian connections."

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A spokesperson for Prime Minister Boris Johnson said this is the first time a Russian superyacht has been detained in U.K. waters, according to SkyNews — which added that the government later clarified that the unidentified owner of the vessel is not currently subject to U.K. sanctions.

Officials said the yacht's ownership is "deliberately well hidden." The company it's registered to is based in the Caribbean islands of St. Kitts and Nevis, but the ship itself carries Maltese flags, purportedly to hide its origins.

Reuters reports that Phi was in Canary Wharf for a superyacht awards ceremony and was planning to depart today.

But the yacht won't be leaving anytime soon, according to Shapps.

"When you see what he's doing to Ukraine, when you see what he's doing to people's lives, it can't be right to have a yacht like this here in London, able to just sail away and that is why we've impounded it, and denied it ability to go anywhere right now, and it's another indication of how seriously we take these matters," he said.

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Phi measures more than 190 feet long. It was completed in 2021 by Dutch builder Royal Huisman , which said it was set to be the longest sub-500GT yacht in the world. Its amenities include a freshwater swimming pool that converts into a sealed tank and an "infinite wine cellar," according to Boat International .

It also boasts a laser-powered exterior lighting system, Auto Evolution reports , and is accompanied by what is called a shadow vessel — "where all the water toys and additional equipment can be carried, in order to free up even more space on the mothership." The 118-foot shadow vessel, Phi Phantom , can reportedly fit a "huge tender and a boat," personal watercraft, motorbikes, additional fuel and a car.

Officials said that they first flagged the yacht as being potentially Russian-owned on March 13 and that the Department for Transport, National Crime Agency and Border Force Maritime Investigation Bureau worked together to identify and detain it.

The transportation department said it's also looking at a number of other vessels and hopes that its "strong stance sends an example to international partners."

This story first appeared in the Morning Edition live blog .

  • United Kingdom
  • Russia sanctions

Photos show a Russian businessman's $50 million superyacht docked in London with no visible security and lit up with fake stars hours after being seized

  • A Russian businessman's $50 million superyacht, Phi, was seized by the UK in London on Tuesday.
  • Insider visited the dock hours after it was seized. The vessel was brightly lit but seemed quiet.
  • Phi was easy to spot and there weren't any security guards visible.

A Russian businessman's $50 million superyacht was seized by the UK on Tuesday in Canary Wharf, London's financial hub. The Financial Times reported that the 192-foot vessel is owned by Vitaly Vasilievich Kochetkov, who founded Motiv Telecom.

russian yacht seized in london

Sources: Insider , The Financial Times

The UK transport secretary Grant Shapps said that by seizing the vessel, authorities had "turned an icon of Russia's power and wealth into a clear and stark warning to Putin and his cronies." The West has been sanctioning Russian elites and oligarchs and seizing their assets to put pressure on the country to stop its invasion of Ukraine. Shapps said in mid-March that the UK was "investigating a small number of yachts moored in this country" with suspected links to Russian oligarchs."

russian yacht seized in london

Source: National Crime Agency , Insider

Insider visited the quay where the yacht, Phi, was docked hours after the UK announced its seizure.

russian yacht seized in london

The vessel was brightly lit, with external blue and yellow strip lights.

russian yacht seized in london

There were also small lights resembling stars on the covered ceiling of the deck.

russian yacht seized in london

With its bright lights, the vessel was far from inconspicuous ...

russian yacht seized in london

... especially compared with the other, much smaller boats docked nearby, which weren't lit up.

russian yacht seized in london

Phi seemed quiet when I visited at 10 p.m. on Tuesday night. There was nobody on the deck, and no visible security, either. This surprised me because some other yachts owned by Russian oligarchs have been targeted by activists protesting the invasion of Ukraine.

russian yacht seized in london

Source: Insider

Phi simply had two thin chains separating the dock from the footpath. These were in place along the whole footpath, looked easy to step over, and had been there since before the vessel was seized.

russian yacht seized in london

Other people walked past the boat when I was there without paying any attention. They might have been unaware that it was the first superyacht to be detained in UK waters under the government's sanctions against Russia.

russian yacht seized in london

The only other person who took an interest in Phi was a tourist who asked if I could take a picture of him with the yacht.

russian yacht seized in london

"Vessels aren't obliged to keep any lights on once moored in dock," Benjamin Maltby, a partner at Keystone Law who specializes in superyachts, told Insider. "The vessel's insurance may require crew to remain on board at all times, and having the lights on just makes moving around at night easier and safer."

russian yacht seized in london

"The lights may also be kept on as a security measure," Maltby added. "Plus, they look good — and owners and crew are rightly proud of their yachts."

russian yacht seized in london

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Russian oligarch’s £38m superyacht back in London a year after being seized

Tuesday, March 28th, 2023

Written by: Marine Industry News

Phi superyacht Canary Wharf sanctions

A superyacht reportedly owned by a Russian oligarch has been spotted at London’s Canary Wharf — a year after the vessel was seized under sanctions imposed after the invasion of Ukraine.

Alongside several eyewitness reports, AIS data confirms that, as of 28 March 2023, the £38m megayacht Phi is moored in Canary Wharf, east London.

The ultimate ownership of the Phi had been well hidden. The company the ship is registered to is based in St Kitts and Nevis, and the vessel carried Maltese flags.

In March 2022, the UK government detained Phi in Canary Wharf , just hours before it was set to leave the capital following a superyacht awards ceremony.

At the time, Transport Secretary Grant Shapps said the unnamed owner was “not currently sanctioned” but is a businessman who has “close connections” to Russian President Vladimir Putin. While initial reports in British outlets claimed the vessel is owned by Russian businessman Sergei Georgievich Naumenko, the Financial Times reported the ultimate owner as Vitaly Vasilievich Kochetkov, the founder of Motiv Telecom.

Arriving on the vessel for a photocall after the yacht was detained last year, Shapps declared the move a ‘warning’ to Russia.

“We’ve detained a £38m superyacht and turned an icon of Russia’s power and wealth into a clear and stark warning to Putin and his cronies,” he said. “Detaining Phi, proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from Russian connections.”

Officers from the National Crime Agency boarded Phi yesterday. Photo courtesy of the National Crime Agency

Yet despite the detention and unclear ownership, Phi remains in Canary Wharf. One Londoner has posted a photo of Phi on the Reddit forum this week, asking: “Whose yacht is docked in Canary Wharf?”

One user clarifies: “Yea it’s on my running route and has been over in that corner of the dock for almost a year now. It used to come and go I think, and dock a bit closer to everything else.”

The 58.5-metre  Phi  has a freshwater swimming pool and an ‘infinite wine cellar’ – created by reflections of mirrors –according to the website of its builder Royal Huisman .  Phi  is the third-biggest yacht built by the prestigious Dutch shipyard, and also has its own 36-metre shadow vessel. It made its maiden voyage from the Netherlands to London in December 2021.

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2 responses to “russian oligarch’s £38m superyacht back in london a year after being seized”.

Completely illegal seizure of property which casts doubt on 400 years of UK property law. Seizure if sanctioned individual’s property is understandable if debatable but this one is indefensible and just a publicity stunt by a weak and shallow UK government

Uncanny that the tender is a Ukrainian built rib that the Russians bombed the factory of last June! Disgraceful

This article was written and/or edited by the UK-based MIN team.

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russian yacht seized in london

REVEALED: £38m superyacht seized in Canary Wharf is owned by Russian telecoms tycoon who ISN'T on the sanctions list as Brighton-based captain slams 'publicity stunt' and 'government overreach'

  • UK officials boarded Phi - named after the mathematical concept - in Canary Wharf, east London, on Tuesday
  • Vessel, which was due to depart at noon, is first to be detained in Britain as part of sanctions against Russia
  • Grant Shapps said an 'icon of Russia's power and wealth' was turned into a 'clear and stark warning to Putin'
  • Phi - a vibrant bright blue super-yacht - is double the size of the other boats docked around it at Canary Wharf  

By Danyal Hussain and Katie Weston For Mailonline

Published: 11:19 EDT, 30 March 2022 | Updated: 11:45 EDT, 30 March 2022

View comments

A 192ft and £38 million superyacht seized in Canary Wharf is owned by a Russian mobile network tycoon who is not on the UK sanctions list, it has been revealed. 

Officials boarded £38million Phi - named after the mathematical concept - in Canary Wharf on Tuesday. The vessel is the first to be detained in Britain under sanctions imposed due to the war in Ukraine .

Initially, the owner's name wasn't revealed and he was described as a businessman with an 'infinite wine cellar' and fresh-water swimming pool.

However, he has now been named as Vitaly Vasilievich Kochetkov, the founder of Motiv Telecom, a mobile phone network in the mineral-rich Urals region of Russia. 

He owns the superyacht through Portsmouth Maritime, a Kitts & Nevis company that controls a Malta-registered yacht charter business, Hexagon Yachting Limited. 

The Russian businessman also owns two other superyachts, named Aurelia and Phi Phantom, which are currently moored at Porto di Imperia in Italy, according to documents seen by the Financial Times.

The government said it had seized the vessel under the Russian sanctions regime, although Kochetkov is not currently on any sanctions list. 

In fact, Kochetkov appears to be at odds with Vladimir Putin, with Russian police opening a tax evasion criminal investigation  into the parent company of Motiv Telecom, Yekaterinburg-2000, in 2021. 

Phi made her maiden voyage last year after being built in the Netherlands. The vessel was in London for a superyacht awards ceremony and was due to depart at noon today. 

Captain Guy Booth later wrote online: 'This is a government overreach and nothing more than a publicity stunt.' Booth, a New Zealander based in Brighton was made 'build captain' of the yacht in 2019, according to his LinkedIn profile.

Transport Secretary Grant Shapps said on Tuesday: 'Today we've detained a £38 million superyacht and turned an icon of Russia's power and wealth into a clear and stark warning to  Putin and his cronies.

'Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from connections to Putin's regime.' 

UK officials boarded £38million Phi - named after the mathematical concept - in Canary Wharf on Tuesday. The vessel is the first to be detained in Britain under sanctions imposed due to the war in Ukraine

UK officials boarded £38million Phi - named after the mathematical concept - in Canary Wharf on Tuesday. The vessel is the first to be detained in Britain under sanctions imposed due to the war in Ukraine

Phi made her maiden voyage last year after being built in the Netherlands. The vessel was in London for a superyacht awards ceremony and was due to depart at noon today

Phi made her maiden voyage last year after being built in the Netherlands. The vessel was in London for a superyacht awards ceremony and was due to depart at noon today

Mr Shapps said: 'Today we've detained a £38 million superyacht and turned an icon of Russia's power and wealth into a clear and stark warning to Putin and his cronies'

Mr Shapps said: 'Today we've detained a £38 million superyacht and turned an icon of Russia's power and wealth into a clear and stark warning to Putin and his cronies'

Captain Guy Booth (pictured), a New Zealander based in Brighton, was made 'build captain' of the yacht in 2019, according to his LinkedIn profile. He wrote online: 'This is a government overreach and nothing more than a publicity stunt'

Captain Guy Booth (pictured), a New Zealander based in Brighton, was made 'build captain' of the yacht in 2019, according to his LinkedIn profile. He wrote online: 'This is a government overreach and nothing more than a publicity stunt'

The Transport Secretary posted a picture of himself, above, stood in front of the yacht on Twitter, writing: 'This Government will continue to take robust action against anyone benefiting from connections to Putin's regime'

The Transport Secretary posted a picture of himself, above, stood in front of the yacht on Twitter, writing: 'This Government will continue to take robust action against anyone benefiting from connections to Putin's regime'

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The Department for Transport (DfT) said it worked with the National Crime Agency (NCA) and the Border Force Maritime Investigation Bureau to identify and detain the vessel.

It initially refused to reveal the name of her owner, stating that he is 'a Russian businessman'. The department described Phi's ownership as 'deliberately well hidden'.

It follows two private jets belonging to Eugene Shvidler, a billionaire oil businessman, being seized by UK authorities on Saturday after he was sanctioned over ties with his business partner Roman Abramovich.

Phi's owner is not currently subject to UK sanctions. But, under present regulations, a ship owned, controlled, chartered or operated by persons connected with Russia may be subject to a detention direction by the Transport Secretary.

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Intelligence work by the Cell - supported by colleagues from Border Force Maritime Intelligence Bureau - identified the ultimate owner of the vessel.

The information was passed to Mr Shapps who today ordered the first ever detention of a superyacht in UK waters. As a result NCA officers issued the notice of detention. 

Andy Devine, of the NCA, said: 'Today's activity demonstrates the NCA's ability to react at pace. 

'We have surged officers to establish the Combatting Kleptocracy Cell, and the results of this are already bearing fruit.

Mr Shapps (above) said: 'It was here for refit, won't be going anywhere, and it's just another indication that we will not stand by whilst Putin's cronies are allowed to sail around the world in these kinds of yachts and people in Ukraine are suffering'

Mr Shapps (above) said: 'It was here for refit, won't be going anywhere, and it's just another indication that we will not stand by whilst Putin's cronies are allowed to sail around the world in these kinds of yachts and people in Ukraine are suffering'

The Department for Transport (DfT) said it worked with the National Crime Agency and the Border Force Maritime Investigation Bureau to identify and detain the vessel

The Department for Transport (DfT) said it worked with the National Crime Agency and the Border Force Maritime Investigation Bureau to identify and detain the vessel

She is registered to a company based in the Caribbean dual-island nation of Saint Kitts and Nevis, and carries a Maltese flag

She is registered to a company based in the Caribbean dual-island nation of Saint Kitts and Nevis, and carries a Maltese flag

'The NCA plays a vital role in targeting suspect assets, pursuing enablers of illicit wealth and supporting government partners in the delivery of the response to the Russian invasion of Ukraine.'

Phi - a vibrant bright blue super-yacht - is 192ft long and features what is described as an 'infinite wine cellar' and a freshwater swimming pool. She is double the size of the other boats docked around it at Canary Wharf.

She is registered to a company based in the Caribbean dual-island nation of Saint Kitts and Nevis, and carries a Maltese flag 'to hide its origins'.

The DfT said it is 'looking at a number of other vessels' and hopes its 'strong stance sends an example to international partners'. 

Mr Shapps said: 'Now the ship is being held, it won't be going anywhere. 

'It was here for refit, won't be going anywhere, and it's just another indication that we will not stand by whilst Putin's cronies are allowed to sail around the world in these kinds of yachts and people in Ukraine are suffering. 

Phi - a vibrant bright blue super-yacht - is 192ft long and features what is described as an 'infinite wine cellar' and a freshwater swimming pool. She is double the size of the other boats docked around it at Canary Wharf

Phi - a vibrant bright blue super-yacht - is 192ft long and features what is described as an 'infinite wine cellar' and a freshwater swimming pool. She is double the size of the other boats docked around it at Canary Wharf

Phi's owner is not currently subject to UK sanctions. But, under current regulations, a ship owned, controlled, chartered or operated by persons connected with Russia may be subject to a detention direction by the Transport Secretary

Phi's owner is not currently subject to UK sanctions. But, under current regulations, a ship owned, controlled, chartered or operated by persons connected with Russia may be subject to a detention direction by the Transport Secretary

'When you see what he's doing to Ukraine, when you see what he's doing to people's lives, it can't be right to have a yacht like this here in London, able to just sail away and that is why we've impounded it, and denied it ability to go anywhere right now, and it's another indication of how seriously we take these matters.'

The move comes after Italian police seized the world's biggest sailing yacht, the 470-foot Sailing Yacht A, from Russian billionaire Andrey Igorevich Melnichenko, the prime minister's office said on March 12.

Triesete, designed by Philippe Starck and built by Nobiskrug in German, was mentioned in Winston Churchill's Iron Curtain speech of March 5, 1946, when the war time leader outlined the front line of the Cold War. 

A spokesperson for Melnichenko, Alex Andreev, said the businessman had 'no relation to the tragic events in Ukraine. He has no political affiliations'. 

Russian oligarch Igor Sechin also saw his 289-ft 'Amore Vero' - meaning 'True Love' - seized by French custom officers near Marseille after being sanctioned by the European Union.

The move comes after Italian police seized the world's biggest sailing yacht, the 470-foot Sailing Yacht A, from Russian billionaire Andrey Igorevich Melnichenko (pictured right, with Abramovich), the prime minister's office said on March 12

The move comes after Italian police seized the world's biggest sailing yacht, the 470-foot Sailing Yacht A, from Russian billionaire Andrey Igorevich Melnichenko (pictured right, with Abramovich), the prime minister's office said on March 12

Russian oligarch Igor Sechin (pictured above) also saw his 289-ft 'Amore Vero' - meaning 'True Love' - seized by French custom officers near Marseille after being sanctioned by the European Union

Russian oligarch Igor Sechin (pictured above) also saw his 289-ft 'Amore Vero' - meaning 'True Love' - seized by French custom officers near Marseille after being sanctioned by the European Union

The Solaris is not as large as the Eclipse, a 533ft vessel. Abramovich has previously owned at least five other colossal yachts, with 162ft Sussurro the most recent to change hands around 2017

The Solaris is not as large as the Eclipse, a 533ft vessel. Abramovich has previously owned at least five other colossal yachts, with 162ft Sussurro the most recent to change hands around 2017

Meanwhile, fellow oligarch Abramovich saw one of his superyachts arrive safely in Montenegro earlier this month, where it is beyond the reach of UK, EU or US authorities.

His biggest yacht, Eclipse, slipped through the Strait of Gibraltar at 1.30pm, ensuring it remained outside the territory's waters. 

Abramovich cannot sell any of his UK assets including Chelsea FC without a special licence that can only be granted by ministers and the Office of Financial Sanctions Implementation (OFSI). 

Any cash he holds in the UK is frozen in accounts if he has not been able to transfer funds abroad, while his shares on the London Stock Exchange cannot be sold and will pay no dividends.

But despite these serious allegations, the law doesn't allow ministers to take away Chelsea, properties, yachts, planes, shares and cash. 

Currently, the Government has powers to freeze UK assets like houses, but it cannot seize them and put them to a different use. The rules in place prevent oligarchs from renting out or selling property they own, hiring someone to clean it or even paying a power company to connect it to the electricity supply or pay a bill.

Share or comment on this article: £38m superyacht seized in Canary Wharf owned by Russian telecoms tycoon

Is he a Russian oligarch? Then he is on the list. ...

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

Tal Yellin

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.

russian yacht seized in london

Real estate

Other assets

April 14, 2022

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

russian yacht seized in london

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.

russian yacht seized in london

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.

russian yacht seized in london

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.

russian yacht seized in london

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.

russian yacht seized in london

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.

russian yacht seized in london

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.

russian yacht seized in london

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.

russian yacht seized in london

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

russian yacht seized in london

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.

russian yacht seized in london

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.

russian yacht seized in london

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

russian yacht seized in london

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

russian yacht seized in london

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

russian yacht seized in london

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.

russian yacht seized in london

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.

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russian yacht seized in london

US court blocks government sale of seized Russian oligarch's yacht

T he New York court has denied the US government the right to sell the luxurious yacht Amadea belonging to a Russian businessman, which was seized back in 2022. The proceeds from the sale of the vessel were intended to be transferred to Ukraine's benefit, according to Voice of America.

According to the US government, the super-yacht belongs to Russian businessman Suleiman Kerimov, who is under sanctions.

Two years ago in May, Fiji confiscated the Amadea vessel, subsequently handing it over to the USA.

Expenses for the confiscated yacht

It is worth noting that the US taxpayer is required to spend about $740,000 a month on maintenance and insurance for the 106-meter Amadea.

In order to reduce these costs, the US government requested permission to sell the vessel and convert its value into cash. Such practices are quite common in cases of civil forfeiture when the asset's value depreciates rapidly or its upkeep becomes too expensive.

Thus, the United States government sought to sell this super-yacht, estimated at $230 million, and transfer the proceeds to Ukraine as part of its support efforts.

Court proceedings and verdict

Meanwhile, legal proceedings are still ongoing, as the case of civil forfeiture became complicated after another Russian billionaire, Eduard Khudainatov, who is not under US sanctions, claimed ownership of Amadea.

In considering the case, the Southern District Court of New York this week ruled that the expenses for maintaining Amadea were not "excessive."

According to the court's ruling, in order to assess whether the maintenance expenses for Amadea are excessive, American court should not "look solely at the total dollar amount of the maintenance costs, but must principally consider whether those amounts are more than what is usual as compared to the maintenance costs for other similar yachts."

Thus, the court ruled that the government failed to prove that the expenses met this standard.

It is worth adding that the US Department of Justice has the right to appeal this decision.

Attempts by the oligarch to lift the yacht's arrest

In addition, two days after the decision was made, attorneys for Khudainatov and the company directly owning Amadea filed a memorandum opposing attempts by the US government to exclude Khudainatov from the case.

Although the prosecution claims that Khudainatov is not the actual owner of the yacht and has no right to challenge its confiscation, the memorandum from his defenders states that he is indeed the true owner, and thus Amadea is not subject to confiscation at all.

In June 2022, the USA won a legal battle over the arrest of the Russian super-yacht Amadea in Fiji. At that time, the United States took control of the vessel worth $325 million and relocated it from the southern part of the Pacific Ocean.

Earlier, it was reported that the United States imposed sanctions on two yachts linked to Russian dictator Vladimir Putin

Photo: Russian oligarch's yacht Amadea (ruyachts.com)

russian yacht seized in london

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https://www.barrons.com/news/russian-oligarch-usmanov-starts-legal-battle-with-ubs-4d5e3540

  • FROM AFP NEWS

Russian Oligarch Usmanov Starts Legal Battle With UBS

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Russian oligarch Alisher Usmanov has launched legal proceedings against Swiss banking giant UBS in Germany for passing on "unfounded" information to authorities investigating him for alleged money laundering, his lawyer said on Monday.

Usmanov, an ally of Russian President Vladimir Putin, began legal action against UBS at a court in Frankfurt, the group's European headquarters, for "a series of unfounded reports" the bank allegedly sent to financial authorities.

This then "triggered a political investigation against him", his lawyer said.

Usmanov says UBS passed on to the police more than a dozen reports dating from 2018 to 2022 that he called "absurd and baseless if not knowingly false", violating rules around confidentiality, "personal rights" and "the banking contract".

By spreading "false allegations", the bank helped open an investigation and extend EU sanctions against him, causing financial losses and "enormous" reputational damage, his lawyer said.

The billionaire was one of dozens of Russian oligarchs hit by Western sanctions following Moscow's invasion of Ukraine in February 2022.

Germany has launched a probe against Usmanov for alleged money laundering and tax evasion, with police raiding UBS offices in late 2022 as part of the investigation.

German authorities have also searched Usmanov's property in the country and in 2022 seized the "Dilbar" yacht, the world's biggest, and worth around $600 million according to Forbes magazine. Usmanov denies owning it.

fcz/imm/ach

Russian oligarch Alisher Usmanov has launched legal proceedings against Swiss banking giant UBS in Germany for passing on "unfounded" information to authorities investigating him for alleged money laundering, his lawyer said on Monday.

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International Edition

Inside the capture of a Russian oligarch's superyacht

  • Published 11 November 2022

Law enforcement officers walk on to the Amadea superyacht

FBI agents seized the 106m superyacht while it was moored in Fiji

The radio fizzed with static as one of the world's most expensive superyachts sailed through the mist into San Diego Bay.

"Sécurité, sécurité, sécurité… this is the inbound yacht the Amadea."

At the stern, an American flag fluttered above the boat's lavish, mosaic-lined swimming pool.

The $325m (£307m) vessel had spent most of its life touring picturesque ports in the Mediterranean. Now, under the control of US authorities, it was destined for a drab concrete wharf in an industrial harbour.

It is the most ostentatious trophy claimed by a taskforce that - in the words of US President Joe Biden - was set up to pursue Russian oligarchs' "ill-begotten gains".

The BBC has been granted exclusive access behind the scenes of a superyacht seizure.

Short presentational grey line

As missiles rained down on Ukraine in the early days of the war, US prosecutor Andrew Adams was sitting in his New York office with a list of Kremlin-connected billionaires and their luxury assets.

But it looked like time was running out. On a digital map of maritime traffic, he could see superyachts linked to oligarchs making a scramble for safety - sailing towards countries where, he suspected, they believed their assets would be safe from sanctions.

Among the opulent floating targets, one "mega yacht" stood out, Mr Adams said.

The Amadea is roughly the length of a football pitch, with a helipad at one end and a 10-metre infinity pool at the other. Inside, there is a gym, beauty salon, cinema and wine cellar. There are luxury cabins for 16 guests, and accommodation for 36 crew to service their every need.

From a distance, it appears like the tip of an iceberg. Sleek, clean lines and a gleaming white facade seem to project an image of pristine purity. Simply keeping the Amadea shipshape comes at vast expense, with annual running costs estimated at £25m or more. But the ownership of the yacht, and the source of the wealth locked away in its marble floors and teak decking, remains disputed.

Amadea

US investigators say billionaire Russian politician Suleiman Kerimov is the true owner. Mr Kerimov, a senator in the Russian parliament, rejects the claim.

The 56-year-old is one of the richest men in Russia, according to Forbes, which estimates that he and his family are worth $12.4bn. He made his fortune after the fall of the Soviet Union, buying up large stakes in Russian companies, including the country's biggest gas and gold producers.

The US sanctioned Mr Kerimov in 2018. The UK followed suit in March, as did the EU, which said he had supported or implemented policies which undermine the independence, stability and security of Ukraine.

BBC iPlayer

The Hunt for the Russian Superyachts

The inside story of the game of cat and mouse between some of the world's most powerful nations and some of Russia's richest men.

Available now on BBC iPlayer (UK Only)

BBC iPlayer

The list of Russian elites banned from spending their fortunes in Western countries had been growing since 2014, as governments tried to isolate President Putin after the annexation of Crimea. When tanks rolled into Ukraine in February, oligarchs faced renewed scrutiny.

"We're joining with European allies to find and seize their yachts, their luxury apartments, their private jets," President Biden announced on 1 March.

Mr Adams - a lean, blue-eyed prosecutor with the US Department of Justice - was placed at the head of a new taskforce, named KleptoCapture, dedicated to enforcing US sanctions.

He planned to use his experience tackling organised crime to honour the president's pledge.

With tactics developed in the fight against the mafia, the taskforce - which includes agents and analysts from the likes of the FBI and the US Secret Service - aims to identify high-ranking targets, find evidence of any law breaking and then "seize assets as quickly and as aggressively as we can," he said.

But two weeks after the invasion began, Mr Adams could see the Amadea "scrambling out of waters where we would normally be able to seize it".

"It became critical when it turned off its location monitor, its transponder," he said. "Essentially, the boat tried to go dark."

Amadea's route

On 12 March, the Amadea left Antigua in the Caribbean and five days later travelled through the Panama Canal, stopping briefly in Mexico before striking out into the Pacific Ocean on 25 March.

After more than a fortnight at sea, it arrived in Fiji. The yacht was scheduled to leave for the Philippines within 48 hours, but the US believed its true destination was Vladivostok, a Russian port near the border with China and North Korea.

As it sailed through the Pacific, investigators in the US were searching for any sanction violations that could be used as a "hook" to seize the Amadea, Mr Adams said. Their goal was to prove that Mr Kerimov owned the boat, and that US dollars had been used to purchase, supply or maintain it.

Tracking down a superyacht's true owner requires more than a google search, Mr Adams said. "It can be extremely difficult to unravel who owns these vessels." Ownership is often hidden behind shell companies and trusts, registered in countries where information is "tightly controlled and not something that the US can always easily access," he said.

US prosecutor Andrew Adams in New York City

Andrew Adams says the Amadea is a "luxury villa that floats on the water"

But Russia's war had led to a "boom of information" provided by co-operative foreign countries, including those which "historically have been viewed as opaque" - places where company ownership is hard to investigate, Mr Adams said.

It required a massive investigation in a short time, with members of the taskforce interviewing sources with knowledge of the boat's finances, and scouring bank statements and corporate records, he said.

"We were able to get that information in part because there was an enormous upswell of support for Ukraine and support for this effort."

According to US court documents, investigators unearthed evidence, which, they say, proves Mr Kerimov has owned the boat since August 2021 - three years after he was first sanctioned by the US Treasury.

"What we found was that one, Mr Kerimov owns the boat, and two, that he had substantial numbers of US dollars that flowed into the boat over the years in violation of US sanctions."

As it docked in Fiji, local authorities searched the Amadea and found records of financial transactions stretching back four months. Hours later, armed with this new information, FBI agents applied to a US judge for a warrant to seize the boat. The FBI listed their reasons for believing Mr Kerimov was the yacht's "true beneficial owner," although many of the details have been redacted in a copy published by the US government , external .

Mr Kerimov's representatives told the BBC that his alleged ownership of the Amadea is "denied and unproven".

Amadea

Clockwise from top left: The Amadea pictured in Abu Dhabi, Hawaii, Fiji and Turkey

A week after the boat arrived in the Pacific island, a local lawyer intervened on behalf of a company that is formally registered as the superyacht's owner. It led to a seven-week legal wrangle, as appeals against the warrant worked their way up to Fiji's supreme court.

The lawyer argued there was no evidence the yacht represented the proceeds of crime, and claimed it actually belonged to a different billionaire Russian oligarch.

Eduard Khuadainatov is the former CEO of state-owned oil giant Rosneft. He was sanctioned in June by the EU, which said he now owned one of the biggest private oil companies in Russia. He is not sanctioned in the US.

The lawyer told the Fijian court there was "undisputed evidence" that Mr Khuadainatov owned the Amadea. He is also the named owner of a $700m yacht linked to Putin, which has been frozen by Italian authorities. But the US claims he is a "straw man" - intended to conceal the identity of the true owners.

"To own several half-billion dollar yachts as a mid-tier industrialist is totally implausible," Mr Adams said.

Mr Khudainatov has not responded to requests for comment.

Suleiman Kerimov (left) and Vladimir Putin in Sochi, Russia, in 2019

Suleiman Kerimov, left, denies owning the Amadea

FBI agents flew in while the Amadea was moored in Fiji's turquoise waters in early May. Under a blazing sun, a line of men in dark suits boarded the boat as crew members wearing white polo shirts waited on deck.

Agents discovered it "looked like a luxury yacht that was on a high-speed chase across the Pacific", Mr Adams said. It had "been battened down pretty heavily", he added.

Inside, they found ornate furnishings, including chandeliers, gilded fittings and expensive artworks.

The taskforce is still calculating the total value of the luxuries, and the authenticity of the most prominent pieces are under investigation. Among them, one striking item stood out - a lavish object resembling a rare Fabergé egg. Only a few dozen were made for the Russian Imperial family, and they have come to symbolise opulence and power.

"Maybe it's a real Fabergé egg, maybe it's not a real Fabergé egg," Mr Adams said. "Time will tell."

After nearly two months tied-up beside shipping containers, the Fijian supreme court cleared the way for the US to seize the boat. It had become an international spectacle.

After the ruling in June, the island's chief of police posed for photographs on deck with US embassy officials as the Stars and Stripes fluttered overhead. The boat, which had flown the colours of the Cayman Islands, would now sail under the American flag.

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But before it could depart for the US, Mr Adams decided to replace the crew. "We needed a crew that we could rely on," he said.

After a three-week voyage, the Amadea reached the US mainland, sailing into San Diego Bay on 27 June.

It was a proud moment for the taskforce, but it was "just the beginning of a process here in the United States," Mr Adams said. "It's not the end."

For the US, the ultimate goal is to sell the boat, he said. "It's to provide funds for Ukraine."

But first, they must persuade a court that Mr Kerimov is the true owner of the boat, and that sanctions were violated to pay for it.

To prepare, investigators are analysing "terabytes of data", including bank records and masses of electronic communications, while Russian language linguists are investigating financial documents.

It is not the only superyacht caught in the taskforce's net. Days before the Amadea arrived in Fiji, FBI agents with the Spanish police seized the $90m Tango, which is owned by sanctioned billionaire Viktor Vekselberg. It remains moored in Mallorca, but Mr Adams hopes this too, can be sold to help rebuild Ukraine.

In Europe, security experts have been closely following the saga of the Tango and the Amadea. They reveal a key difference between law enforcement approaches on either side of the Atlantic.

Several oligarch-linked superyachts are being held in the EU, and one in the UK, but the boats have been frozen, rather than seized.

"In principle, if you only freeze an asset it will return to the owner at some point; if it's seized, they lose it forever," said Tom Keatinge, the director of the Centre for Financial Crime and Security Studies at the Royal United Services Institute.

While the US has long-standing laws to tackle sanctions evasion and seize assets, he says authorities in London and Brussels are "struggling to design legal mechanisms" that will allow them to seize assets that have initially been frozen.

NCA officers onboard superyacht Phi

The £38m superyacht Phi has been detained in London for more than seven months

Since the invasion, the UK has sanctioned at least 1,200 people, including more than 120 oligarchs with an estimated combined net worth of over £130bn. But, where action has been taken, it has focused on freezing assets.

In March, former transport secretary Grant Shapps filmed a selfie-style video alongside a £38m yacht named Phi on the day it was detained by the National Crime Agency in London's Canary Wharf.

He said the move had "turned an icon of Russia's power and wealth into a clear and stark warning to Putin and his cronies".

But with the detention of the Phi, the UK was relying on a law with a broader scope than those used by its international allies.

The boat's owner, Sergei Naumenko, is not on any sanction list. And yet, under UK law, vessels can be detained simply for being owned or operated by somebody connected with Russia.

Guy Booth, the yacht's captain, said Mr Naumenko was "absolutely not an oligarch and he's not, as described, a close personal friend of Vladimir Putin".

"If this were an oligarch's boat, it would be four times the size," he added.

Mr Booth says the operation seemed "staged" for publicity, adding that Mr Shapps appeared to be "posing like a big game hunter who'd just shot a lion".

The Department for Transport said it stands firmly by its decision to detain the Phi, adding that the UK would "continue to act within its available powers to ratchet up the economic pressure on Russia and make life harder for Russian elites".

Mr Booth remains positive that "one day eventually we will sail off down the Thames".

As Western governments grapple with confiscating frozen assets, Mr Adams expects more countries to follow their "aggressive" approach to seizures.

"We want to make it as difficult as possible to exist as a person who can draw on the benefits of corruption in Russia and at the same time exist in fabulous luxury in the West," he said.

In the year before the invasion, the Amadea spent most of its time in Europe. It dropped anchor off the likes of Monaco, Marseilles and Montenegro, according to analysis for the BBC by Spire Global, a data and analytics provider.

Today, it is moored at the edge of a busy cargo terminal used by vast, rust-stained car carrier ships. A public park runs close to its berth, and locals have taken to sharing pictures of their glamorous new neighbour on social media.

"They should open it to the area's homeless," one person commented.

Another wrote: "I hope they sell it to help Ukrainian refugees."

Related Topics

  • International sanctions

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The Nord superyacht docked in Hong Kong waters with the city skyline in the background

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  8. UK seizes superyacht of unknown Russian businessman docked in London

    The Transport Secretary said the yacht is reportedly valued at £38million and had been in London for an awards ceremony. The 58.5 metre vessel contains a freshwater swimming pool and a wine ...

  9. UK seizes Russian-owned superyacht in London

    Oliver Gill, Chief Business Correspondent 29 March 2022 • 1:29pm. The Phi is worth an estimated £38m Credit: James Manning/PA. Grant Shapps has seized the first Russian superyacht in British ...

  10. UK detains Russian-owned superyacht in London's Canary Wharf

    The 58.5 metre Dutch-built yacht, named Phi, was detained in the Canary Wharf financial district of London under the government's Russian sanctions, the first time the regulations have been used ...

  11. In the dock: Oligarch's stranded superyacht haunts the UK's drive for

    MY Phi Superyacht: A Luxurious Odyssey. Fourth-largest yacht built by Royal Huisman and ranked number 572 in the world's largest yachts. Has a length of 58.5 metres (192ft) and beam of 9.73 metres (31.9ft) Has a gross tonnage of 495 with an aluminium hull and superstructure. Powered by twin MTU engines, allowing it to reach a top speed of 22 knots.

  12. A Russian superyacht is detained near London : NPR

    The $49.67 million yacht, which is named Phi, belongs to an unnamed Russian businessman and was docked in the Canary Wharf financial district of London, according to the government.

  13. Russian Businessman's Yacht Lit up Hours After It Was Seized: Photos

    A Russian businessman's $50 million superyacht was seized by the UK on Tuesday in Canary Wharf, London's financial hub. The Financial Times reported that the 192-foot vessel is owned by Vitaly ...

  14. Russian oligarch's £38m superyacht back in London a year after being seized

    A superyacht reportedly owned by a Russian oligarch has been spotted at London's Canary Wharf — a year after the vessel was seized under sanctions imposed after the invasion of Ukraine. Alongside several eyewitness reports, AIS data confirms that, as of 28 March 2023, the £38m megayacht Phi is moored in Canary Wharf, east London.

  15. Russia superyacht symbolises challenge of seizing assets

    A legal battle over who owns a luxury superyacht symbolises the difficulties of seizing Russian assets since the war in Ukraine started. When BBC reporters investigated the case of the £54m Alfa ...

  16. The hunt for superyachts of sanctioned Russian oligarchs

    After this date, the yacht's tracking data shows it was steering clear of Greek territorial waters (Greece is in the EU) and sailing in international waters, where it cannot be seized.

  17. £38m superyacht seized in Canary Wharf owned by Russian telecoms tycoon

    A 192ft and £38 million superyacht seized in Canary Wharf is owned by a Russian mobile network tycoon who is not on the UK sanctions list, it has been revealed. Officials boarded £38million Phi ...

  18. List of Russian Oligarchs' yachts, homes and assets being seized

    The 192-foot "Phi" yacht in Canary Wharf, east London, on March 29. ... The Italian financial police seized Russian billionaire Gennady Timchenko's yacht, ...

  19. US court blocks government sale of seized Russian oligarch's yacht

    The New York court has denied the US government the right to sell the luxurious yacht Amadea belonging to a Russian businessman, which was seized back in 2022. The proceeds from the sale of the ...

  20. U.S. Court Refuses Request to Auction Off Seized Russian Yacht

    A federal district court has refused a request from the U.S. Justice Department to allow the sale of the seized Russian megayacht Amadea. ... in London. The new ownership group includes Dutch ...

  21. Russian Oligarch Usmanov Starts Legal Battle With UBS

    German authorities have also searched Usmanov's property in the country and in 2022 seized the "Dilbar" yacht, the world's biggest, and worth around $600 million according to Forbes magazine ...

  22. Coke, Pepsi Pledged to Quit Russia Over Ukraine But Are Still There

    After Vladimir Putin's troops surged over the Ukrainian border in February 2022, the Coca-Cola Co. was among the first multinationals to pledge it would quit Russia in protest. Aiming to avoid ...

  23. G-7 Leaders to Agree to Tap Frozen Russian Assets, France Says

    Group of Seven leaders are set to reach a political agreement to provide Ukraine with $50 billion of aid using the profits generated by frozen Russian sovereign assets, according to an Elysee ...

  24. Russian oligarch's super yacht seized

    A yacht owned by Igor Sechin, boss of Russian state energy company Rosneft, was grabbed by French customs officers near Marseille. However, German authorities denied a report that they had seized ...

  25. Ukraine strikes deal for US gas in bid to clip Russian energy influence

    Since the invasion of Ukraine, the industry has seized the opportunity to fill the gap left by Europe's push to ditch Russian imports, with developers striking a flurry of major export deals.

  26. Inside the capture of a Russian oligarch's superyacht

    In March, former transport secretary Grant Shapps filmed a selfie-style video alongside a £38m yacht named Phi on the day it was detained by the National Crime Agency in London's Canary Wharf. He ...

  27. US to Widen Sanctions to Curb Chip Sales to Russia's War Machine

    President Joe Biden's administration is expanding the use of secondary sanctions on Russia with an eye toward curtailing the sale of semiconductor chips and other goods to Russia, targeting ...

  28. Russia-Ukraine War: Africans Forced to Fight and Die for the Kremlin

    The Kremlin has forced thousands of migrants and foreign students to fight alongside Russian troops in its war against Ukraine, adding extra manpower for its offensive in the Kharkiv region ...

  29. Russian Oil Tanker Does Secret Cargo Switch Near Singapore to Dodge US

    The first Russian oil tanker attempting to deliver crude while under US sanctions made a secret cargo transfer onto another ship, a sign of the lengths to which Moscow is going to undermine the ...

  30. Putin Demands Ukraine Abandon Four Regions for Peace Talks

    Russian President Vladimir Putin called on Ukraine to withdraw from four eastern regions partially occupied by his forces as a condition of peace talks, a demand Kyiv dismissed as "manipulative ...