Overview

• The Amadea has been docked in San Diego since its 2022 seizure and is open for sealed bids through September 10.
• Eduard Khudainatov is appealing a forfeiture ruling and warns that any buyer could face years of costly international litigation.
• The Justice Department asserts that sanctioned oligarch Suleiman Kerimov is the true owner and that Khudainatov served as a front.
• A law enacted in May 2024 empowers the US to confiscate Russian state-linked assets and direct sale proceeds to bolster Ukraine’s defense and reconstruction.
• This auction is the first disposal of a luxury yacht seized since Russia’s 2022 invasion and sets a precedent for future asset seizures.