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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Italy impounds $700 million megayacht linked to Putin

ROME — Italian financial authorities said Friday that they have impounded a $700 million megayacht that has been linked in media reports and by anti-Kremlin groups to Russian President Vladimir Putin. But an element of mystery remains: Italy, in what it called its “ freezing decree ,” did not say who the owner might be.

Italian investigators had raced to investigate the vessel and prevent it from leaving the Tuscan port of Marina di Carrara. The yacht, known as the Scheherazade, had been undergoing repairs since before Russia invaded Ukraine. But this week, it returned to the water, according to a New York Times reporter who visited the marina, prompting fears that the vessel might depart and evade sanctions.

The ship, until the measures imposed Friday evening, would have been free to leave.

In announcing its action, Italy’s Finance Ministry said the yacht’s owner had “prominent” links with Russians already under European Union sanctions. The name of the owner was not specified, and Italy said only that its government had asked the E.U. to add the person to its sanctions list.

A spokesman for the Finance Ministry described Italy’s move as “provisional.”

Italy “proposed to the Council of the European Union the inclusion of the owner of the boat in the list,” the spokesman said. “Until then, the name cannot be public.”

In March, an investigation by the Italian daily La Stampa named the boat’s owner as Eduard Khudainatov, a former Russian oil executive. But the newspaper also raised a question about how somebody not listed as a billionaire could afford to purchase one of the world’s most luxurious yachts.

So, speculation about the Scheherazade has only intensified. Investigators working for jailed Russian opposition politician Alexei Navalny say the yacht’s owner is Putin himself. In March, Navalny’s team published what it said was the crew list of people who had worked on the yacht. They purportedly include members of the Russian state agency responsible for Putin’s personal protection.

“We think that this is a solid enough proof that Scheherazade belongs to Putin himself and must be immediately seized,” said Maria Pevchikh, the head of the Navalny-founded FBK investigation team.

The assets of Russia’s ruling and billionaire class are generally kept in tight secrecy, controlled on paper through opaque offshore companies. That has made it difficult in some cases for European countries to ascertain the real owners of villas, yachts and other luxury items. The Scheherazade is officially owned by an offshore company from the Marshall Islands, Pevchikh said.

Before Friday, Italy had managed to detain a $560 million megayacht connected to Andrey Melnichenko, a coal and fertilizer tycoon who is one of Russia’s 10 richest people. Italy has also blocked access to villas that oligarchs use as summer getaways.

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Putin's alleged $700M superyacht seized in Italy

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Italian officials seized a $700 million luxury yacht with ties to the Russian government , Rome's ministry of finance announced Friday. 

Italian authorities scrambled to investigate the nearly 460-foot superyacht known as the Scheherazade, which was dry-docked in the Tuscan port of Marina di Carrara as concerns mounted the Kremlin-linked vessel would set out to Italian waters shortly. 

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The yacht was seized under coordinated measures with the European Union due to Russia's involvement in "undermining or threatening the territorial integrity, sovereignty and independence of Ukraine."

The Scheherazade, a 459-foot luxury yacht, is docked at the shipyard in Marina Di Carrara, Italy, March 23, 2022. (Francesco Mazzei/Bloomberg via Getty Images / Getty Images)

The finance ministry said the vessel, which flew the flag of the Cayman Islands, "had long been under the attention of the authorities."

Despite the acknowledged investigation that found the yacht to have "prominent" links to Russians targeted under EU sanctions, Italian officials omitted the name of the owner of the Scheherazade.

Some reporting has suggested the Scheherazade belongs to Russian President Vladimir Putin, while other reports have pointed to Eduard Khudainatov, a Russian former executive of a state-owned oil company, .

Italy's financial police patrol boat is seen in front of the multimillion-dollar megayacht Scheherazade, which is docked at the Tuscan port of Marina di Carrara, Tuscany, May 6, 2022.  (Federico Scoppa/AFP via Getty Images / Getty Images)

Khudainatov does not appear to have yet been specifically sanctioned, but a decree passed by Italian Finance Minister Daniele Franco barred the vessel from sailing away.

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Ukrainian President Volodymyr Zelenksyy specifically referenced the megayacht in a March address to Italy’s parliament in a plea for action.

"Don't be a resort for murderers," he said in a translated address. "Block all their real estate, accounts and yachts — from Scheherazade to the smallest ones. Block the assets of all those who have influence in Russia."

Russian President Vladimir Putin attends a meeting with top officials about support to the aviation industry in Russia amid western sanctions via videoconference at the Novo-Ogaryovo residence outside Moscow, Russia, March 31, 2022. (Mikhail Klimentyev, Sputnik, Kremlin Pool Photo via AP / AP Images)

Ukraine has pressed the international community to impose harsher sanctions on Russia as it has continued its deadly war in Ukraine for more than 10 weeks.

The U.S., along with several European nations, have made moves to cut Russian oil ties, while others have pledged to do so by the end of 2022. 

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Zelenskyy slammed EU nations that continue to purchase Russian oil, its No. 1 export.

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"You shouldn’t be a little evil and a little good. It is inadmissible to impose sanctions and with another hand to sign new contracts with Russia. This is definitely inadmissible in times of war. This is hypocrisy," Zelenskyy said during a virtual address to the U.K.’s Royal Institute of International Affairs Chatham House Friday.

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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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How can a $700 million superyacht sitting in an Italian port ‘belong to no one’? Russian sleuths say it’s Putin’s

In the legend of Tales From the Thousand and One Nights , Scheherazade is a beautiful virgin who escapes being murdered by the king by telling him stories at night.

Scheherazade is also President Vladimir Putin’s $700 million superyacht, according to Russian investigative journalists—and its ability to survive being seized by Western governments will require far more cunning than storytelling.

The yacht, currently moored in the Marina di Carrara on Italy’s Tuscany coast, is gargantuan, even by the outsize dimensions of Russian oligarchs’ superyachts. At about 459 feet long , it has six levels of decks, two helipads with a hidden helicopter hangar, a spa, huge living room and dining room, a swimming pool and three saunas, as well as an upper-level “owner’s area” that includes its own private spa.

“Belongs to no one”

For weeks, there have been questions about who owns the superyacht, which is registered in the Cayman Islands through a shell company. But on Monday, the group headed by jailed Russian activist Alexis Navalny claimed in a YouTube video that the vessel belongs to Putin himself.

“On paper, it belongs to no one, and sits quietly in an Italian port,” the video says in Russian. “Watch the video, and you will find out how Putin owns this yacht through figureheads, and how we can take this yacht away from him.”

The group obtained the all-Russian crew list for the yacht, and found that almost all of them were employed by Putin’s security detail, the Federal Protective Service, known by its Russian acronym FSO.

Earlier this month, the Scheherazade’ s British captain, Guy Bennett-Pearce, told the New York Times he was under “a watertight nondisclosure agreement” about who the superyacht’s true owners were, but claimed he had never seen Putin on board.

But Navalny’s group says the crew’s employment status suggests that the Russian leader owns the vessel. If that hunch is correct, it would be subject to immediate seizure under U.S., U.K., and European Union sanctions.

Superyachts have been one of the most visible signs of Russian oligarchs’ mammoth wealth—and, recently, one of the most often seized. French police seized a $120 million vessel allegedly owned by Igor Sechin, head of the Russian oil giant Rosneft, on the Mediterranean coast earlier this month . Spanish officials impounded  two more yachts, including the Crescent , a 443-foot superyacht also thought to belong to Sechin.

Another boat, owned by former KGB agent Vladimir Strzhalkovsky, was stranded in Norway when no one would sell it fuel. And on Monday, the 460-foot superyacht Solaris , owned by the sanctioned billionaire oligarch Roman Abramovich, was spotted parked in the harbor of Bodrum, Turkey; that country has not implemented sanctions.

Putin’s $200 billion

Western governments face a daunting task in tracking down Putin’s true wealth, which could amount to some $200 billion, according to financier Bill Browder, who told the U.S. Senate Judiciary Committee in 2017 that Putin’s inner circle of oligarchs split their billions 50-50 with the Russian president. The assets include a $1.3 billion mansion on the Black Sea, funded through a Russian health project in which Putin allies were vastly overpaid for medical supplies.

The Scheherazade , in fact, might not be Putin’s only superyacht. Last month, the vessel Graceful made a hurried departure from its berth in Hamburg as the EU was drafting tough new sanctions just days before Putin sent Russian tanks into Ukraine. Believed to be linked to Putin, that superyacht is thought to be worth $100 million .  

But untangling ownership details, and pinpointing them to Putin, will be immensely complicated.

In that, Navalny’s team has joined forces with the Organized Crime and Corruption Reporting Project, or OCCRP, a Sarajevo-based group of investigative journalists, to create a database of oligarch wealth. It publishes its “ Russian Asset Tracker” in Russian , English, and Spanish.

The journalists say they are focusing on “a new generation of wealthy men obedient to Putin”—many of whom are now under Western sanctions and whose funds Western governments believe are crucial to funding the Ukraine war. The database lists mansions, superyachts, private planes, and other property, so far totaling about $17.5 billion. The group is sure that will grow, and invites people to send details of “anything we’ve missed.”

“Figuring out who owns what, and how much of it, is a tall order even for experienced police investigators,” the journalists say. “We decided to follow the trail.”

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A $700 million luxury superyacht linked to Putin was seized by Italian authorities

• A $700 million luxury megayacht with ties to Putin is frozen, according to Italian authorities.
• An Italian police investigation found significant ties between the ship and the Russian government.
• The yacht, called the Scheherazade, appeared ready to set sail after being refloated on Tuesday. 

A $700 million luxury megayacht with ties to Russian President Vladimir Putin has been seized, Italian authorities announced on Friday.

An Italian police investigation found significant connections between the ship, called the Scheherazade, and the Russian government, authorities said. 

The Scheherazade appeared ready to set sail after being loaded with food and supplies and refloated on Tuesday, possibly in an effort aimed at leaving before it could be seized. The 459-foot vessel spent the previous nine months in a dry dock in the Tuscan port of Marina di Carrara, The New York Times reported.

An ex-crew member told The Times that conversations arose about Putin potentially being the owner of the yacht, but Italian authorities did not specify whether or not Putin owned the ship.

The Scheherazade is among the latest Russian-owned megayachts to be seized as a result of sanctions imposed after Russia's invasion of Ukraine.

The Amadea, a $300 million superyacht owned by sanctioned Russian oligarch Suleyman Kerimov, was also seized by officials in Fiji this week.

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Inside putin’s $700m yacht, complete with gold toilet paper holder.

This yacht makes a Bond villain’s boat look like a dinghy.

Vladimir Putin, whose forces continue to attack Ukraine , spared no expense on his alleged $700 million superyacht, which comes complete with its own dance floor — and even golden toilet paper holders. Rumors that the boat belonged to him have been swirling since its construction; however, anti-Kremlin activists recently claimed that it is indeed Putin’s .

“It’s like a mini city,” an unnamed worker reportedly involved in its construction told the Sun of the 495-foot luxury vessel, which is moored in Marina di Carrara in Italy. “There are countless swimming pools, a spa, a sauna, a theatre, ballrooms, a gym, two helipads.” 

Known as Scheherazade — after the iconic Persian queen from literature — the opulent watercraft was reportedly estimated at £500 million ($6.6 million), although insider sources price it closer to £750 million ($990 million).

And it appears that Putin put his money where his boat is: Photos obtained by the Sun show the veritable maritime mansion and its six floors of swanky amenities. They include a 16-foot aquarium, multiple televisions — including a 15-foot beast spanning an entire wall — and a self-leveling pool table so that guests can play even when the sea turns turbulent.

There are also bathrooms outfitted with King Midas-evoking gold taps and toilet paper holders, plus a tile dance floor that converts into a pool. Scheherazade is thought to be one of only two ships in the world with that feature, the Sun reported; the other is Putin’s second yacht, Graceful.

Along with standard bling, the Russian president decked out the superyacht with personal touches, including a judo room with framed pictures of black belts, plus various books showcasing the autocrat’s worship of wealth.

“Every surface is either marble or gold,” an unnamed boatbuilder told the Sun of the glitzy vessel, which the worker finds especially obscene in light of current events.

“It is hard to swallow the fact that the most incredible ship in the world is owned by a man intent on bombing civilians in Ukraine,” he continued. “And it is an unimaginable amount of wealth when the average Russian’s salary is £5,000 a year, and people there are struggling to eat.”

The ritzy ship isn’t just built for pleasure cruises. Much like the baddie’s superyacht in the movie “Thunderball,” Scheherazade can supposedly transform from a party boat to a battleship in a flash with a state-of-the-art security system reportedly capable of shooting down drones.

If that wasn’t ostentatious enough, the superyacht-cum-aircraft-carrier also contains two helipads and a hangar than can house a helicopter, six Jet Skis, five dinghies and eight Seabob underwater scooters.

Scheherazade was built over two years ago. However, the vessel’s alleged ties to Putin came to light recently after activists affiliated with jailed Kremlin critic Alexei Navalny claimed that some of the crewmembers worked for the Federal Security Service, which handles the Russian leader’s security.

“To sum up, a dozen of Vladimir Putin’s personal guards and servants are constantly maintaining one of the world’s largest yachts docked in an Italian port,” investigative journalist and Navalny ally Maria Pevchikh wrote on Twitter Monday.

Meanwhile, during a Tuesday address to the Italian parliament, Ukraine President Volodymyr Zelensky implored Italy to confiscate the assets of Putin and his supporters, who he claimed frequently traveled to Italy, the Guardian reported .

“Don’t be a resort for murderers,” he said, urging Italian authorities to seize every yacht “from the Scheherazade to the smallest ones.”

The ship is currently being investigated by authorities for potential ties to sanctioned Russians.

See the full set of image at The Sun

Despite the accusations, the Scheherazade’s British captain, Guy Bennett-Pearce, has denied that Putin has ever owned or even set foot on the vessel.

“I have never seen him. I have never met him,”  he told the New York Times , adding that the vessel’s owner was not on any sanctions list.

Earlier in March, Italian officials seized several superyachts owned by Russian oligarchs, including Alexey Mordashov’s 213-foot vessel , Gennady Timchenko’s 132-foot watercraft and Audrey Melnichenko’s $578 million, 469-foot superyacht.

The seizures are among the latest efforts to hit Putin and those close to him over Russia’s brutal assault against Ukraine, which began on Feb. 24. 

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'Putin's £570m superyacht' seized by Italy over fears it may sail to international waters

7 May 2022, 07:41 | Updated: 7 May 2022, 12:49

By Sophie Barnett

A £570m superyacht said to be owned by Vladimir Putin has been seized by Italian authorities just as it appeared to be preparing to set sail.

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The Scheherazade has been undergoing repairs at a port in Marina di Carrara, off the coast of Tuscany, since September last year and is reported to belong to the Russian president.

The 140-metre yacht, which has gold-plated taps, a swimming pool, spas and two helicopter pads, and is reportedly worth £570million ($700m), has been linked to Putin despite denials from the shipyard hosting it.

It is being seized under EU sanctions brought over Russia's invasion of Ukraine that have seen other vessels confiscated.

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In a statement on Friday night, Italy's finance ministry said that the boat's owner had ties to "prominent elements of the Russian government".

The late night announcement came after fears grew that The Scheherazde was about to slip away and head to international waters and avoid any possible sanctions.

The statement did not name the owner of the vessel, but said the ministry had asked the EU to place the individual on to the sanctions list. The yacht has been blocked pending the adoption of further restrictive measures.

US officials told the New York Times that the ship - which has been the subject of an investigation by the Italian financial police since the end of March - could belong to Russia's president.

Investigative journalists and supporters of the imprisoned Russian opposition leader Alexei Navalny have also linked the vessel to President Putin.

Other reports suggest the ship may belong to Eduard Khudainatov, a Russian oil tycoon who has not been hit by sanctions. He is the former chairman and chief executive of Rosneft, the state-owned Russian company that deals in oil and gas.

Read more: 'Ukraine will win': Boris gets standing ovation as first leader to address Kyiv Parliament

The decision to seize the Cayman islands registered yacht came after Navalny supporter Maria Pevchikh posted on Twitter:" Ok guys we have a problem, Putin's secret $700 million yacht is about to escape sanctions by simply taking off from Italy.

"It's a matter of days now. The Italian authorities are doing nothing to stop it. So we should."

The six-deck Scheherazade is one of the largest and most-expensive privately-owned boats in the world - with space equivalent to two apartment blocks.

The yacht has room for 18 guests in nine luxury cabins in addition to a crew of 40, residing in 20 cabins.

Some oligarchs placed under sanctions after Russia invaded Ukraine on February 24 have sought safer waters for their mega-yachts. Roman Abramovich has sent two vessels to Turkey.

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This $700 Million Superyacht Might Belong To Putin: Report

The secrecy around the scheherazade has piqued the interest of italian officials.

Officials across Europe are seizing the yachts of rich and powerful Russian Oligarchs due to sanctions put in place following that country’s invasion of Ukraine. One mysterious vessel in the Tuscan port town of Marina di Carrara is under scrutiny for its over-the-top secrecy as the possible superyacht of a well-connected Oligarch. It’s rumored to be the vessel of Russian President Vladimir Putin himself.

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The Scheherazade is a 459-foot superyacht almost as long as a U.S. guided-missile destroyer. It’s estimated to have cost $700 million and is one of only 14 such vessels in the world of such an enormous size, the New York Times reports. It’s also the only vessel in that cohort to completely obscure the owner.

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From the Times:

The mystery about the ship’s owner arose because — even for the hyper-confidential world of superyachting — there is an unusual degree of secrecy surrounding this vessel. Not only do contractors and crew members sign nondisclosure agreements, as on many superyachts, but the ship also has a cover to hide its name plate. And when it first arrived at the port, workers erected a tall metallic barrier on the pier to partly obscure the yacht from onlookers. Some locals remarked that they had never seen anything like it for other boats. In his State of the Union address last week, President Biden announced a Justice Department task force to go after oligarchs close to Mr. Putin and facing sanctions in response to Russia’s invasion of Ukraine. Sanctions have been imposed against hundreds of people, and the list keeps growing. Last week, French authorities seized the yacht Amore Vero near Marseille as it was preparing to depart, claiming it was owned by a man on that list: Igor Sechin, the head of the Russian state-owned oil company Rosneft. In Italy, police in Sanremo impounded Lena, a yacht belonging to Gennady Timchenko, a Putin friend who controls an oil exporting company. In nearby Imperia, police also impounded the Lady M, a yacht belonging to Alexei Mordashov, Russia’s richest man. The fate of the Dilbar, one of the world’s biggest yachts that the United States says belongs to the oligarch Alisher Usmanov, is unclear. It is in Hamburg, and German officials said the vessel could not leave without an export waiver, Bloomberg News reported . Some of the biggest superyachts are owned by Russians who are not on the sanctions list. The world’s second-largest, Eclipse, which has a missile defense system and a mini submarine, is owned by Roman Abramovich, the billionaire who is selling his ownership stake in the British soccer club Chelsea. Andrey Melnichenko, a billionaire coal baron, owns Sailing Yacht A.

Locals jokingly call the Scheherazade “ Putin’s boat ” and told the Times they’ve heard Russian being spoken on its decks. Indeed, 70 percent of the crew are Russian nationals. The rumors are so intense that Italian officials went through the ownership documents on the boat on Monday. The captain of the Scheherazade insisted to the Times that yacht is not owned by Putin but wouldn’t say who did own the vessel due to that watertight NDA. He also said hiring Russians came down to economics rather than nationality. Indeed, the Scheherazade was assumed for a long time to be owned by a Middle Eastern oil tycoon, having once spent a considerable amount of time in the Red Sea, but has sailed to the popular Russian resort town Sochi the past two summers.

It’s a tantalizing prospect and a chance to really needle Putin or one of his closer supporters. We will update this blog when and if we find out for sure who owns the Scheherazade.

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A 459-Foot Mystery in a Tuscan Port: Is It a Russian’s Superyacht?

As European authorities go after the luxury assets of oligarchs close to Vladimir Putin, a superyacht cloaked in secrecy has come under investigation.

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By Michael Forsythe Gaia Pianigiani and David D. Kirkpatrick

From Germany’s North Sea ports to the French Riviera, open season has been declared on superyachts. Across Europe, authorities are hunting down luxury vessels tied to Russian oligarchs in the effort to inflict pain on President Vladimir V. Putin’s allies.

In Marina di Carrara, a small Italian town on the Tuscan coast, one of the world’s biggest, newest and most expensive superyachts — called the Scheherazade — is under scrutiny by the Italian police. Almost as long as a U.S. guided-missile destroyer, it dominates the waterfront.

The yacht, estimated by the website SuperYachtFan to cost about $700 million, has two helicopter decks and is studded with satellite domes. Inside, photos supplied by a former crew member show, is a swimming pool with a retractable cover that converts to a dance floor. Then there’s the fully equipped gym and the gold-plated fixtures in the bathrooms.

In the rarefied world of the biggest superyachts ( only 14 that are at least 140 meters, or 459 feet long), the Scheherazade is alone in that no likely owner has been publicly identified. That has spurred speculation that it could be a Middle Eastern billionaire or a superconnected Russian — even Mr. Putin.

The ship’s captain, Guy Bennett-Pearce, a British national, denied that Mr. Putin owned or had ever been on the yacht. “I have never seen him. I have never met him,” he said. He added, in a phone interview from the yacht, that its owner was not on any sanctions list. He did not rule out that the person could be Russian, but declined to say more about the owner’s identity, citing a “watertight nondisclosure agreement.”

Captain Bennett-Pearce said that Italian investigators had come aboard on Friday and examined some of the ship’s certification documents. “They are looking hard. They are looking at every aspect,” he said. “This isn’t the local coppers coming down, these are men in dark suits.” A person familiar with the matter, speaking on the condition of anonymity because he was not authorized to discuss it, confirmed that the Italian financial police had opened an inquiry.

On Monday night, Captain Bennett-Pearce said he had “no choice” but to hand over documents revealing the owner’s identity to the Italian authorities. He said he would do so on Tuesday and had been told they would be handled with “confidentiality.”

“I have no doubt in my mind whatsoever that this will clear the vessel of all negative rumors and speculations,” he wrote in a message to a New York Times reporter.

The mystery about the ship’s owner arose because — even for the hyper-confidential world of superyachting — there is an unusual degree of secrecy surrounding this vessel. Not only do contractors and crew members sign nondisclosure agreements, as on many superyachts, but the ship also has a cover to hide its name plate. And when it first arrived at the port, workers erected a tall metallic barrier on the pier to partly obscure the yacht from onlookers. Some locals remarked that they had never seen anything like it for other boats.

In his State of the Union address last week, President Biden announced a Justice Department task force to go after oligarchs close to Mr. Putin and facing sanctions in response to Russia’s invasion of Ukraine. Sanctions have been imposed against hundreds of people, and the list keeps growing.

Last week, French authorities seized the yacht Amore Vero near Marseille as it was preparing to depart, claiming it was owned by a man on that list: Igor Sechin, the head of the Russian state-owned oil company Rosneft. In Italy, police in Sanremo impounded Lena, a yacht belonging to Gennady Timchenko, a Putin friend who controls an oil exporting company. In nearby Imperia, police also impounded the Lady M, a yacht belonging to Alexei Mordashov, Russia’s richest man. The fate of the Dilbar, one of the world’s biggest yachts that the United States says belongs to the oligarch Alisher Usmanov, is unclear. It is in Hamburg, and German officials said the vessel could not leave without an export waiver, Bloomberg News reported .

Some of the biggest superyachts are owned by Russians who are not on the sanctions list. The world’s second-largest, Eclipse, which has a missile defense system and a mini submarine, is owned by Roman Abramovich, the billionaire who is selling his ownership stake in the British soccer club Chelsea. Andrey Melnichenko, a billionaire coal baron, owns Sailing Yacht A.

Determining the ownership of assets that the wealthy want to keep hidden is difficult, especially without a warrant, because they are often zealously guarded by private bankers and lawyers and tucked away in opaque shell companies in offshore secrecy havens. The Scheherazade is flagged in the Cayman Islands and its owner, Bielor Assets Ltd. , is registered in the Marshall Islands. The yacht’s management company, which Captain Bennett-Pearce says is also registered in the Cayman Islands, works from the ship and uses his rental villa in nearby Lucca as its address.

One trade website, which bills itself as “the global authority in superyachting,” claims that the vessel’s owner is “known to be a Middle Eastern billionaire.” The Scheherazade shares a name with the female storyteller in “The Arabian Nights,” and it made one brief foray into the Red Sea in September 2020, calling at the Egyptian port of Hurghada. But mostly it stays in Marina di Carrara, where it has been moored since last September.

Locals have their own theory about the ship’s ownership. Some have heard people onboard speaking Russian. And Scheherazade is also the title of a symphonic work by the Russian composer Nikolai Rimsky-Korsakov.

“Everybody calls it Putin’s yacht, but nobody knows whose it is,” said Ernesto Rossi, a retired clerk who was taking a walk along the marina’s promenade on Friday. “It’s a rumor that’s been going around for months.”

In Italy, the phrase “Putin’s yacht” has become shorthand for a mysterious and ultra-luxurious ship. It’s also a joke among the dozens of crew members, Captain Bennett-Pearce said. “I’ve heard the same rumors.”

Another, smaller vessel, the Graceful, has long been tied to the Russian president and is known as “Putin’s yacht.” It was tracked leaving Germany for the Russian port of Kaliningrad just weeks before the invasion of Ukraine. (U.S. government officials point out that Mr. Putin owns little outright; many of the luxurious homes or ships he uses are owned by oligarchs.)

Mr. Putin appears to have a penchant for big pleasure boats. During his time as Russia’s leader, he’s been photographed on yachts from Russia’s northern reaches to the Black Sea in the south. Last May, he and Alexander Lukashenko, the president of Belarus, took a cruise on a yacht at the Black Sea resort city of Sochi.

The Scheherazade’s builder, Lurssen Group, whose website promises customers “complete confidentiality,” declined to comment about its ownership. Until June 2020, when the completed ship left the pier in Bremen, Germany, it had the code name “Lightning.” The same company built the even bigger superyacht the Dilbar. A similar gigantic yacht, code-named “Luminance,” is now being built at Lurssen, scheduled to be completed next year.

“Of course, all orders and projects of the Lurssen Group and its subsidiaries are treated in accordance with the applicable laws and regulations,” said Oliver Grun, a company spokesman.

About 70 percent of the Scheherazade’s crew is Russian, Captain Bennett-Pearce said. And during each of the past two summers, it has sailed to Sochi, the last time in early July 2021, according to MarineTraffic, a top maritime analytics provider. The ship’s construction was managed by Imperial Yachts, a company in Monaco that, Reuters reported , manages the Amore Vero, Mr. Sechin’s seized yacht. Nick Flashman, who oversees construction of large vessels at Imperial Yachts, declined to comment.

One former crew member, who spoke on the condition of anonymity because of the nondisclosure agreement, said that shipmates called it “Putin’s yacht.” The person said the ship was manned by an international crew during “boss off” times; when it was “boss on,” the crew was replaced by an all-Russian staff. In the weeks before the Scheherazade’s 2020 trip to the Black Sea, the foreign crew was dismissed, the person said.

The former crew member supplied photos of rosters of both international and Russian crew members. The Times reached out, via social media, phone or email, to at least 17 of them. Few responded.

One of the Russians said only that he had worked on the Scheherazade, citing a nondisclosure agreement. Another person said it would be dangerous to talk. One man denied serving on the vessel; another said he hadn’t worked at sea in 25 years.

Captain Bennett-Pearce said “categorically there is not a European crew that comes on and a Russian crew that comes on.” Many of the ship’s senior officers are from Britain, New Zealand and Spain. Many international crew members were dismissed in 2020, replaced by Russians who didn’t demand the high salaries and benefits that their predecessors had, the captain said. “It came down to economics,” he said.

Given the antipathy that people outside of Russia have toward Mr. Putin, if the Russian president really were the owner or principal user of the yacht, keeping non-Russian senior crew members like him on staff would make no sense, Captain Bennett-Pearce said.

“If there’s a European crew onboard it’s the biggest smoke and mirror and the biggest risk I’ve ever heard of,” he said.

Reporting was contributed by Dmitriy Khavin , Christoph Koettl , Julian E. Barnes , Jason Horowitz , Rebecca R. Ruiz and Eric Schmitt .

Because of an editing error, an earlier version of this article referred imprecisely to the new task force announced by President Biden in his State of the Union address. He announced a Justice Department task force to pursue and seize the assets of oligarchs associated with President Vladimir V. Putin of Russia, not a joint task force with partners in Europe, which was previously announced.

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Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

Gaia Pianigiani is a reporter based in Italy for The New York Times.  More about Gaia Pianigiani

David D. Kirkpatrick is an investigative reporter based in New York and the author of “Into the Hands of the Soldiers: Freedom and Chaos in Egypt and the Middle East.“ In 2020 he shared a Pulitzer Prize for reporting on covert Russian interference in other governments and as the Cairo bureau chief from 2011 to 2015 he led coverage of the Arab Spring uprisings. More about David D. Kirkpatrick

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‘Mysterious’: the $700m superyacht in Italy some say belongs to Putin

Activists linked to Alexei Navalny believe the Scheherazade is owned by the Russian president

F or several months, the mysterious 140-metre-long, six-floor superyacht has towered over the smaller boats in the shipyard in Marina di Carrara, a town on Italy’s Tuscan coast, arousing chatter among its people over the identity of its wealthy owner.

“It’s the largest yacht I’ve ever seen here,” said Suzy Dimitrova, who owns a boat in the marina. “There are people cleaning it all the time. The last time I saw it leave [the shipyard] was last year. We’re all wondering who the owner is.”

The Scheherazade, said to be worth $700m (£528m), is under investigation by Italian authorities for potential links to sanctioned Russians. And activists working with the jailed Russian opposition leader Alexei Navalny are in no doubt that the yacht is owned by the Russian president Vladimir Putin .

On Monday, investigative journalist Maria Pevchikh and anti-corruption activist Georgy Alburov said that all crew members, obtained from a list dating December 2020, were Russian, apart from the captain. In a video published on YouTube, they claimed that some of the yacht’s staff worked for the Russia’s Federal Protective Service (FSO), an agency that manages security for high-ranking officials including Putin.

The activists, who have urged Italian authorities to seize the yacht, said this information proves it belongs to Putin. “They are Russian state employees, military personnel, and they regularly travel to Italy as a group to work on the mysterious yacht,” Pevchikh wrote on Twitter.

The interior of the vessel was described as being equipped with a spa, swimming pools, two helipads, a wood-burning fireplace and a pool table designed to tilt so as to reduce the impact of the waves.

In an address to the Italian parliament on Tuesday, the Ukrainian president Volodymyr Zelenskiy urged Italy to seize the yacht, adding that Putin and his wealthy supporters often holidayed in Italy and should have their assets blocked.

“Don’t be a resort for murderers,” he said. “Lock all their real estate, accounts and yachts – from the Scheherazade to the smallest ones.”

Putin’s last official visit to Italy was in 2019, at the invitation of the former prime minister, Giuseppe Conte. He also held talks with Pope Francis at the Vatican during the visit.

Marina di Carrara is close to Forte dei Marmi, a favourite holiday destination for Russian oligarchs, many of whom have bought villas and beach resorts.

In early March, Italian police seized a yacht owned by Alexei Mordashov, the richest man in Russia before being blacklisted by the European Union, and another owned by Gennady Timchenko, a billionaire with close ties to Putin , in the Ligurian port of Imperia.

The yacht can only be seen through a fence, where it is continuing to undergo a refit, scheduled to be completed next year, in a shipyard owned by The Italian Sea Group, a company that refits and builds luxury yachts.

The mystery over its owner gathered momentum in early March, when finance police in Carrara boarded the yacht as EU sanctions against Russian oligarchs kicked in over Russia’s invasion of Ukraine .

The police seized ownership documents from the yacht’s British captain, Guy Bennett-Pearce. At the time, US officials told the New York Times that they were also investigating whether the yacht belonged to Putin.

The Italian Sea Group said in a statement that it was continuing to work on the ship’s €6m (£5m) refit and maintenance despite the EU’s sanctions and that, according to documents in its possession, the vessel “is not attributable to the property of the Russian president Vladimir Putin”, and neither is it owned by a Russian on the sanction list.

A source at the finance police unit in Carrara said that they are now aware who the owner is and will soon make an announcement.

An investigation by La Stampa newspaper earlier this month had linked the vessel to Eduard Yurievich Khudainatov, the former president of the Russian state oil firm Rosneft, via a shell company registered in the Marshall Islands.

But Italian police are reportedly certain that Khudainatov is not the yacht’s real owner. “He seems to be a man connected with Putin’s inner circle but not so rich as to own a yacht like the Scheherazade,” said Jacopo Iacoboni, the journalist for La Stampa who carried out the investigation.

Until the Italian police reveal their findings, the people of Marina di Carrara continue to ponder, even if its presence causes concern. “Putin is the presumed owner, and looking at it now causes me a lot of anxiety because of what he is doing in Ukraine,” said Maria Cristina.

However, there are no signs of protests being planned. “There are always a lot of words, but little action here,” said Dimitrova.

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