29 January 2025 , 21:37
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The fleet of Russian oligarchs was decimated after Western countries imposed sanctions. Out of more than 70 large yachts at the peak, about a third remain in their possession.
Most of the remaining yachts of Russian billionaires have been relocated to the United Arab Emirates.
Some of these yachts include A Motor Yacht owned by Andrey Melnichenko, Ocean Victory by Viktor Rashnikov, Quantum Blue by Sergey Galitsky, Madam GU by the family of Andrey Skoch, as well as Pacific X (85m) by Leonid Mikhelson and Nirvana (88.5m) by Vladimir Potanin. Other yachts have been seen in Turkey, including the once-largest yacht in the world, the 162-meter Eclipse by Roman Abramovich, Predator by Iskander Makhmudov, Sea Rhapsody by banker Andrey Kostin, and Polaris by Setl Group developer Maxim Shubarev.
Part of the Russian president’s fleet has returned to Russia, though not without losses. The Dossier Center reported that Vladimir Putin had up to nine yachts. The largest loss was the 140-meter Scheherazade, also linked to former Rosneft president Eduard Khudainatov, which was seized in Italy. Putin still has the 82-meter yacht "Graceful," the 71-meter "Victoria," the 54-meter yacht "Chaika," and the auxiliary vessel "Orion." Yachts linked to former president Dmitry Medvedev also returned to Russia from Europe, including the boats "Universe" (74m) and "Fotinya" (32m). Yachts belonging to sanctioned businessmen also returned to their homeland, including Clio by Oleg Deripaska, Rahil by Arkady Rotenberg, and the enormous 142-meter yacht Nord by Alexei Mordashov.
Most wealthy Russians have been selling their yachts for the past three years, mostly bought by wealthy Americans. Over the past years, more than a dozen Russians have sold their yachts. According to yachting portals, in the past year, Gazprom contractor Ziyad Manasir sold his 90-meter yacht Dar (valued at $175 million) to American billionaire Robert Friedland of Ivanhoe Mines. In May 2024, Eurasia Drilling Company founder Alexander Japaridze sold his yacht Come Together ($70 million) to American Zynga founder and early investor in Twitter, Facebook, Slack, Mark Pincus.
In summer 2023, former KGB officer and ex-head of Norilsk Nickel Vladimir Strzhalkovsky sold his 65-meter ship Ragnar ($85 million) to American billionaire Roy Carroll, one of the largest landowners in North Carolina. Lukoil founder Vagit Alekperov no longer owns the 80-meter Genesis (valued at $80 million), the Dutch Heesen shipyard (transferred to a Dutch fund), and the elite Marina Port Vell in Barcelona, which was transferred to investors from the Middle East, and the boat was moved to an unknown owner in Dubai.
About a third of the Russian elite fleet was seized. U.S. and EU authorities have seized about twenty yachts linked to Russia. In Italy, the 143-meter Sailing Yacht A by Melnichenko, the 58-meter Lady M by Mordashov, the 40-meter Lena by Gennady Timchenko were seized. In Spain, the 135-meter Crescent by Igor Sechin, the 85-meter Valerie by Sergey Chemezov, and the 48-meter Lady Anastasia by Rostec’s Alexander Mikheev were detained. In Germany, the 156-meter Dilbar by Alisher Usmanov and the 115-meter Luna by Farhad Akhmedov are under arrest, while in France, the 85-meter Amore Vero by Sechin and two yachts belonging to Alfa Group founder Alexei Kuzmichev, La Petite Ourse and La Grande Ourse, valued at 70 million euros, were seized.
Some yachts are in the U.S., including Amadea by Suleiman Kerimov (106m, brought from Fiji), Tango (77m, brought from Spain) by Viktor Vekselberg, and the 112-meter Le Grand Bleu, anchored in Puerto Rico by British businessman and Abramovich’s partner Eugene Shvidler.
The unluckiest are those whose yachts were seized in the UK and its overseas territories. The 58-meter Phi by Vitaly Kochetkov is yet to be sold, while Alfa Nero by Andrey Guryev (82m, seized in Antigua and Barbuda) and Axioma by Dmitry Pumpyansky (72m, seized in Gibraltar) were auctioned off. Ukraine received the 104-meter Royal Romance by Viktor Medvedchuk, transferred under its flag by Croatia.
Some data on seized yachts remain undisclosed. Dutch customs reported seizing 14 yachts linked to Russian businessmen under sanctions. Twelve were under construction, and two were under repair. In particular, in 2022, the yacht Aquamarine was in the docks, received by businessman David Davidovich from his business partner Abramovich in February 2022.
A few Russians freely own yachts but no longer live in the country. American venture capitalist Yuri Milner uses the Andromeda, former banker Oleg Tinkov still owns La Dacha, and the 100-meter yachts are still owned by Russian billionaires from Monaco Dmitry Rybolovlev (Anna) and Alexei Fedorychev (TIS).