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Thursday, January 26, 2023

Seized $200M Yacht to be Auctioned Off to Support Ukraine | The Maritime Executive

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According to Ukraine’s Asset Recovery and Management Agency, a superyacht owned by a friend of Russian President Vladimir Putin will shortly be given to the Ukrainian government’s custody and sold at auction (ARMA). 

In accordance with EU sanctions, the yacht Royal Romance was taken into custody by authorities in the Croatian port city of Rijeka in March 2022. Viktor Medvedchuk, a billionaire from Ukraine who supports the Kremlin and is close to Russian President Vladimir Putin, is the owner of the 300-foot yacht. Medvedchuk is also subject to EU and U.S. sanctions against oligarchs with ties to Russia. The yacht will be auctioned to the highest bidder after passing ownership to ARMA, with the revenues going to Ukraine. According to the organization, the situation “is unusual 

Source:https://maritime-executive.com/article/seized-200m-yacht-to-be-auctioned-off-to-support-ukraine 

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