putin's 700 million dollar yacht

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Italy won't say who's paying for the care of a $700 million superyacht tied to Putin

Dustin Jones

The Scheherazade, a 460-foot superyacht, has been held in Italy since May 2022 in response to Russia's invasion of Ukraine. It is believed to have ties to Russian President Vladimir Putin. Laura Lezza/Getty Images hide caption

The Scheherazade, a 460-foot superyacht, has been held in Italy since May 2022 in response to Russia's invasion of Ukraine. It is believed to have ties to Russian President Vladimir Putin.

The Scheherazade superyacht was impounded by the Italian government in May 2022 in response to Russian President Vladimir Putin's invasion of Ukraine. Instead of falling into disrepair, Italy has allowed its owner to maintain and refit the vessel, but it won't disclose who is footing the bill.

The Financial Times reported on Sunday that the vessel has been held at port in Marina di Carrara, located almost 90 miles northwest of Florence, since it was impounded by authorities in the spring of 2022. For over a year, the Italian government has permitted the owner to continue paying for the ship's staff, its maintenance and refitting of the vessel. But Italy won't identify the owner.

Italy's Finance Ministry said in a May 2022 news release that the superyacht had "significant economic and business links" with "prominent elements of the Russian government" but didn't name the owner of the ship.

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According to the website SuperYachtFan , the 460-foot superyacht belongs to Russian billionaire Eduard Khudainatov. However, Bloomberg News reported in 2022 that he is a "straw owner" of the superyacht — as well as another ship — and that the Scheherazade actually belongs to Putin.

The Financial Times reported that the Scheherazade has 22 cabins, two helicopter decks and a spa and that it's being refitted by the Italian Sea Group. NPR reached out to the Italian Sea Group for comment but did not hear back before publication.

The United States created Task Force KleptoCapture in the wake of Putin's war against Ukraine, aiming to hold Russian oligarchs accountable for evading sanctions. In its one year of operation, the task force has brought charges to at least 35 individuals and entities, NPR previously reported.

Part of those efforts included seizing luxury items belonging to billionaires with ties to the Kremlin. This includes items like a 348-foot yacht seized in Fiji in May 2022, which is valued at about $300 million and is now sitting in San Diego.

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Breaking news, $700m superyacht linked to putin seized by italy.

A $700 million luxury yacht linked to Russian President Vladimir Putin was impounded by Italy Friday, authorities said.

The government order to seize the luxurious six-deck Scheherazade came as it appeared ready to set sail from the port of Marina di Carrara, according to recent dock activity.

The owner of the ship — which boasts two helicopter landing pads, 22 cabins, a full spa and an indoor pool that doubles as a dance floor — was believed to be Eduard Khudainatov, the former chief of Russian energy giant Rosneft, law enforcement sources said.

Khudainatov is not a current target of European Union war sanctions, but Rome had seized the vessel anyways while appealing Brussels to add him to EU embargoes.

Officials did not name Khudainatov in a statement, saying only the owner of the yacht was tied to “prominent elements of the Russian government.”

US officials told The New York Times the “prominent element” is Putin.

Ukrainian President Volodymyr Zelensky had urged Italian lawmakers to confiscate the pleasure ship in March as part of efforts across the continent to pressure Putin and his loyalists to end their unprovoked war on his country.

Italy seized nearly a billion dollars worth of yachts and villas owned by Russians following Zelensky’s address.

On Thursday, Fiji’s government seized a massive $325 million yacht owned by a Russian oligarch at the request of the US.

Three days before, the US impounded a $90 million ship tied to a Putin associate in Spain.

With Post wires

Putin's $700 Million Dollar Yacht Seized

Apr 11, 2022

Putin’s $700 Million Dollar Yacht Sezied

The owner of the Scheherazade superyacht has recently been identified as Russia’s President Vladamir Putin. His name has been in the news nonstop since the war on Ukraine began abruptly on February 24th. Ukraine’s President Volodymyr Zelensky pleaded with Italian authorities to seize Putin’s assets, citing the vessel’s recent visit to Italy. Putin’s yacht is currently being investigated by authorities for possible Russian ties.

Let’s take a look at the boat’s unique features and multi-purpose capabilities…

Scheherazade Overview

Owner: Vladimir Putin

Cost:  An estimated total of $700 million

Features:  Four deck levels, 22 cabins, movie theatre, a yacht club, ballroom, and more.

Length:  495 ft

Speed:  19.5 knots

Passengers:  94 crew, 40 guests

Annual Running Costs: US $50-75 million

This vessel is the 12th largest superyacht in the world.

A closer look…

“It’s like a mini city… there are countless swimming pools, a spa, a sauna, a theatre, ballrooms, a gym, two helipads.”  www.nypost.com

This yacht is massive, even larger than Jeff Besos ‘. There is a 16-foot aquarium on the inside because, of course, when you’re near the water, you want to watch fish. Because the pool table is self-leveling, guests may enjoy a fun game of pool even in rough waters. The attention to detail on this yacht is astounding, especially the tile dance floor that changes into a pool. Each bathroom onboard has gold faucets and toilet paper holders. A judo studio decked out with black belts and images showcasing the politician’s wealth adds a personal touch.

Is Putin’s yacht multipurpose?

We regret to inform you that this boat serves as more than just party entertainment. It has the ability to turn into a battleship at will and is outfitted with cutting-edge security technologies. Inside sources claim that this device is capable of shooting down drones. Why would it be necessary for this yacht to also function as a weapon?

Unfortunately for Putin, his boat is currently docked in an Italian port, where police have seized it for further examination.

(BOAT International)

(nypost.com)

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A $700 million superyacht linked to Putin was seized in Italy last year. It's being treated to a refurb while it waits, and authorities won't say who's paying for it.

• Scheherazade, a $700 million superyacht linked to Russian President Putin, is being refitted in Italy.
• Italy seized the yacht in 2022 following sweeping sanctions against Russia over the Ukraine war.
• The unnamed owner of the yacht is paying for the vessel's staff, maintenance, and refit.

A $700 million superyacht linked to Russian President Vladimir Putin is sitting in an Italian port and being refitted on the unnamed owner's dime, the Financial Times reports .

Italy seized the Scheherazade superyacht in  May last year but allowed its unnamed sanctioned owner to continue paying for the vessel's staff, maintenance, and a refit while it sits in the Tuscan port of Marina di Carrara, the FT reported.

The 459-foot, four-year-old vessel features six floors, two helipads, a swimming pool, a beauty salon, and gold-plated bathrooms, reported by the FT and an Insider report .

It's now being refurbished by the Milan-listed Italian Sea Group, which confirmed the refit to the FT. The company declined to provide further details — including ownership — to the media outlet.

People with knowledge of the matter told the FT that the owner of the Scheherazade yacht is Eduard Khudainatov, the sanctioned former CEO of the Russian state oil company Rosneft.

However, the oligarch is merely the "straw owner" of the vessel,  Bloomberg  reported in May last year.

US authorities believe the superyacht could  belong to Putin ,  The New York Times  reported in March last year. 

Two activists working with the imprisoned Putin opponent Alexey Navalny claimed last March that some of the ship's crew members were from a Russian state agency responsible for protecting Putin. The FT reported that the Kremlin denied these allegations.

The Scheherazade is one of the  many luxury assets that have been seized by the West following sweeping sanctions against Russia over the full-scale invasion of Ukraine that started in February 2022. Other yachts linked to Russian oligarchs that have been seized include the $81 million Alfa Nero  and the  $48 million Phi .

The Kremlin and Italian Sea Group did not immediately respond to requests for comment from Insider sent outside regular business hours.

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Watch CBS News

Italy freezes $700 million mega-yacht linked to "prominent elements of the Russian government"

May 6, 2022 / 8:17 PM EDT / CBS/AP

The Italian finance minister has adopted a decree that will impede a mega-yacht from sailing away from a Tuscan port, after an investigation carried out by Italy's financial police corps indicated the luxury vessel Scheherazade has links to "prominent elements of the Russian government."

There had been fears that the 459-foot long yacht, which has been in dry dock in the port of Marina di Carrara, was preparing to sail out of Italian waters soon. Based on the Italian investigation, Minister Daniele Franco adopted a "freezing decree" regarding the yacht, which flies the flag of the Cayman Islands and which had "long been under the attention of the authorities," the statement said.

A few weeks after Russia's war against Ukraine began, Ukrainian President Volodymyr Zelenskyy, in a speech to Italian lawmakers, urged Italy to continue freezing assets of Russian oligarchs and officials. He cited by name the Scheherazade, which, according to some reports, belongs to Russian President Vladimir Putin.

The Italian ministry statement didn't identify the boat's owner nor specify who are the "prominent" elements of the Russian government. But it said the "actual owner" of the Scheherazade should be included in the 2014 EU sanctions list.

Italian media have reported that the ship is registered to Eduard Khudainatov, a former executive at Russia's state-owned Rosneft oil company, who has not been sanctioned. 

Khudainatov is at the center of another mega yacht dispute in Fiji, where police moved Thursday to seize the $300 million Amadea. American officials say the Amadea is owned by Suleiman Kerimov, a sanctioned Russian oligarch, who built his fortune in gold mining. A Fijian lawyer for the company the Amadea is registered to argued in court that the ship is owned by Khudainatov.

The news comes as western nations are cracking down on sanctions against Russian billionaires by taking control of their mega yachts and other valuable assets, including villas and private jets, parked in territory over which their governments have jurisdiction. In early April, American and Spanish law enforcement agents took control of a mega yacht owned by an oligarch who's close to Putin. 

In March, Italy said it seized a $70 million yacht belonging to Alexey Alexandrovits Mordaschov, a steel magnate with close ties to the Kremlin. It also froze Lena, a $54 million yacht belonging to Gennady Nikolayevich Timchenko, a close friend of Putin, whom the EU has sanctioned. 

The seizures have caused some — possibly including Putin — to rush to move their boats into friendlier waters. 

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$700mn superyacht tied to Putin is being refitted while impounded

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Silvia Sciorilli Borrelli in Marina di Carrara and Henry Foy in Brussels

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It has been 15 months since Italy impounded the Scheherazade, a $700mn superyacht linked to Vladimir Putin.

But the time the yacht has spent sitting in the Tuscan port of Marina di Carrara has not been wasted: Italy has allowed its unnamed, but sanctioned, owner to pay not just for its staff and maintenance, but also for it to be refitted.

The 140 metre-long yacht, which is only four years old and boasts 22 guest cabins with gold-plated bathrooms, two helicopter decks and a spa, is being refurbished by the Milan-listed Italian Sea Group.

The company confirmed that a “refit” of the ship continued after the asset was frozen by authorities, and that the yacht’s owner has been paying for the works and for maintenance, but declined to give further details, including the identity of the owner.

The Agenzia del Demanio, which manages seized assets, confirmed it had agreed, along with the finance ministry, to allow the ship’s owner to pay for the “maintenance works”, but declined to go into further detail because “information about frozen assets is classified”.

Italy has never publicly identified the yacht’s owner, although at the time it was seized it said there was “evidence of meaningful economic and business connections with prominent elements of the Russian government subject to EU sanctions”.

According to people with knowledge of the situation in Rome and Brussels the owner is Eduard Khudainatov, the former chief executive of the Russian state oil company Rosneft who was sanctioned by the EU in June 2022.

A Bloomberg report last year said US officials had alleged in court filings that Khudainatov was the “straw owner” of two yachts, including the Scheherazade, on behalf of Putin. The Financial Times traced the boat’s ownership to a Marshall Islands-based entity called Beilor Asset Limited.

Meanwhile researchers working for the jailed Russian opposition activist Alexei Navalny have also alleged that the Scheherazade’s real owner is the Russian president, because a number of its crew were members of the Federal Protection Service, responsible for Putin’s security. The Kremlin denied the allegations at the time. The staff on board the yacht was subsequently replaced.

Kremlin spokesman Dmitry Peskov said in response to a question from the Financial Times: “All rumors about this are unfounded.”

A European Commission spokesperson said that “members states are responsible for implementing sanctions,” and that asset freezes do not affect the ownership of the assets.

When asked about the payment scheme for the Scheherazade’s upkeep, the spokesperson said that “maintenance costs of frozen assets can be paid by the designated person” under a “standard derogation”.

Public authorities in the relevant member state can also pay the maintenance costs given the “risk that the designated person will not be willing to . . . or that the designated person will be denying beneficial ownership of the asset,” the spokesperson added.

Italy and the European Commission did not confirm who the “designated person” is for the Scheherazade.

The EU has imposed sanctions on almost 1,900 Russian individuals and entities since Moscow’s first invasion of Ukraine in 2014, freezing their assets and banning them from travelling around the bloc. The assets are frozen, rather than seized, and would be returned if sanctions are lifted.

According to a list of Russian assets seized in Italy seen by the FT, the Scheherazade is the only one whose owner is not specified. The vessel is merely described as: “superyacht Scheherazade sailing under the Cayman Islands flag with a value of around €650mn.”

Additional reporting by Stefania Palma in Washington

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ROME — The Italian government ordered police on Friday to impound a luxury yacht worth some $700 million that has been linked in the media to Russian President Vladimir Putin.

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Italy seizes $700-million yacht linked to Vladimir Putin Back to video

The sleek, six-deck Scheherazade had been undergoing repairs in the Italian port of Marina di Carrara since September, but recent activity at the dockside suggested that the crew might be preparing to put to sea.

A source with direct knowledge of a weeks-long investigation into the vessel said police believed the owner was Eduard Khudainatov, the former chief of Russian energy giant Rosneft who is not currently a target of EU sanctions.

In a statement announcing the seizure order, the finance ministry did not name the owner, saying only that he had ties to “prominent elements of the Russian government.”

The ministry said the owner himself was not on any sanctions lists drawn up by Brussels following the Russian invasion of Ukraine. However, it said Rome had asked Brussels to rectify this and had ordered the boat to be seized pending a decision.

Police boarded the yacht late on Friday to execute the order, the Italian government said.

In an address to the Italian parliament in March, Ukrainian President Volodymyr Zelenskyy had urged the government to impound the yacht as part of a Europe-wide effort to pressure Putin and his associates to halt the assault on Ukraine.

Italy sequestered villas and yachts worth over 900 million euros ($1.2 billion) in March and April from wealthy Russians, who regularly came to the country on holiday and had bought property in many prestigious locations.

However, police told Reuters they had struggled to identify the real owner of the Scheherazade, which is registered in the Cayman Islands and was built by the German firm Luerssen.

Delivered to its mystery owner in 2020, the yacht has two helicopter landing pads and can host up 18 guests and 40 crew.

An organization set up by the imprisoned Alexei Navalny, a fierce Putin critic, released a report in March saying it had evidence that the boat belonged to Putin.

It said many of its crew were drawn from Russia’s Federal Protective Service (FSO), which is tasked with protecting the Russian president.

The Kremlin did not respond at the time to a request for a comment on whether Putin was the owner or on whether members of the FSO were crew members.

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