US Moves to Auction Seized Russian Oligarch's Yacht Amid High Maintenance Costs
The US government is seeking judicial approval to auction a $300 million superyacht, seized from a sanctioned Russian oligarch, due to its $7 million annual maintenance expenses.
- The US seized the 348-foot Amadea yacht in Fiji in May 2022, alleging ownership by sanctioned billionaire Suleiman Kerimov.
- Eduard Khudainatov, former head of Rosneft, claims ownership of the yacht and challenges its forfeiture, stating he hasn't been sanctioned.
- Federal prosecutors argue the $600,000 monthly maintenance cost justifies the auction, while talks with Khudainatov on upkeep payments have stalled.
- The auction proceeds are intended to eventually benefit Ukraine, aligning with US sanctions enforcement against individuals close to the Russian government.
- Legal complexities and ownership disputes over the Amadea highlight the challenges in sanction enforcement and asset recovery.
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