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U.S. reported cost of maintaining confiscated yacht of Russian oligarch Kerimov

U.S. reported cost of maintaining confiscated yacht of Russian oligarch Kerimov The maintenance of the confiscated yacht costs over 7 million dollars per year (photo:

The U.S. government said it is spending more than $7 million a year to maintain a superyacht it seized from a sanctioned Russian oligarch Suleiman Kerimov. They urged a judge to let it auction the vessel before a dispute over its ownership is resolved, according to Reuters.

Attempts to sell the yacht at auction are being contested by Eduard Khudainatov, who formerly headed the Russian state oil and gas company Rosneft. He claims ownership of the Amadea and asserts that it cannot be confiscated since he is not subject to sanctions.

Federal prosecutors informed U.S. District Judge Dale Ho that the average monthly maintenance bill for the Amadea amounts to $600,000. They also stated that negotiations for Khudainatov to cover the yacht's upkeep have failed. Khudainatov has until February 23 to respond to the prosecution's request.

If the U.S. government succeeded in auctioning the yacht, it would likely eventually transfer sale proceeds to Ukraine.

Kerimov and his family are worth $10.7 billion, according to Forbes magazine. He amassed his fortune through Russian gold miner Polyus.

What preceded this

Earlier, it was reported that the U.S. sought the confiscation of the superyacht belonging to Russian oligarch Suleiman Kerimov. It is noted that the Fijian authorities confiscated the 106-meter yacht Amadea, valued at $300 million, in May 2022 based on a U.S. order issued in May 2022 when Washington tightened sanctions against individuals close to Russian dictator Vladimir Putin.

After the arrest, the U.S. took possession of the vessel from Fiji within hours to ensure that the yacht would not be subject to any further legal claims. Representatives of the U.S. enforcement agency changed the flag on the yacht and redirected it to New Zealand.