The United States has prepared to auction a luxury superyacht seized from Russia. The $325 million Amadea Yacht will be the first Russian property to be auctioned by the US since the beginning of the Russia-Ukraine conflict.
The auction is set to close on 10th September. The decision to sale the yacht comes at a time when US president Donald Trump has become very restless to end the Russia-Ukraine war. By auctioning the luxury vessel, US expects to put pressure on Russian oligarchs to convince Vladimir Putin to stop the war.
The 106-meter-long superyacht was seized in May 2022 when it was docked in Fiji, and is currently docked in San Diego. Amadea was custom built by a German company in 2017, and it has eight state rooms, a beauty salon, a spa, a gym, a helipad, a swimming pool and an elevator.
The yacht is registered in the name of Millemarin Investments Ltd based in Cayman Islands, but US claims that its real owner is Suleiman Kerimov, a former Russian politician sanctioned by USA. But Russia claims that it is owned by Eduard Khudainatov, a former chairman and chief executive of Russian oil and gas company Rosneft.
As per US prosecutors, Eduard Khudainatov is just a front and the superyacht is actually owned by Suleiman Kerimov. Litigation over the true ownership of the yacht is ongoing. A representative of Khudainatov said that sale of the yacht is “improper and premature”, as Khudainatov is appealing the forfeiture of the yacht.
The representative said that if the auction goes through, the buyer will face years of costly and uncertain litigation as Khudainatov is challenging a Fiji court order allowing US to seize Amadea. “We doubt it will attract any rational buyer at fair market price, because ownership can, and will, be challenged in courts outside the United States, exposing purchasers to years of costly, uncertain litigation,” said the representative, Adam Ford.
He added, “Should the government press ahead simply to staunch the mounting costs it is imposing on the American taxpayer, we will pursue the sale proceeds, and any shortfall from fair market value, once we prevail in court.”
The yacht is currently under the control of National Maritime Services, and it has not been used since its seizure. Bidders must deposit €10 million to bid for it.
