Latest news with #EduardKhudainatov
Economic Times
2 days ago
- Business
- Economic Times
$325 million Russian superyacht seized by US — now you can bid on its helipad, spa, and 8 lavish staterooms
The U.S. is auctioning off Amadea, a $325 million superyacht allegedly owned by sanctioned Russian oligarch Suleiman Kerimov. Seized in Fiji in 2022 and docked in San Diego, the vessel is among the most luxurious ever captured under sanctions. Legal disputes over its true ownership persist, but the U.S. plans to proceed with a sealed bid auction by September 10, 2025. Proceeds from the sale are expected to support humanitarian and rebuilding efforts in Ukraine. Tired of too many ads? Remove Ads Ownership Dispute Clouds the Sale Proceeds Expected to Support Ukraine Aid Tired of too many ads? Remove Ads FAQs: The U.S. government is set to auction Amadea, a $325 million superyacht seized from a Russian oligarch, as part of ongoing sanctions related to the Ukraine war. The 348-foot yacht was initially captured in Fiji in 2022 and has been held in San Diego ever since. The luxury vessel, featuring a helipad, swimming pool, spa, and cinema, is one of the most opulent yachts ever seized under U.S. Marshals Service announced a sealed bid auction running through September 10, 2025. To participate, bidders must submit a refundable €10 million deposit (around $11.6 million). The winning bidder will receive full title and ownership of the yacht, pending any unresolved legal the U.S. claims the yacht belongs to Suleiman Kerimov , a sanctioned Russian billionaire, it is officially registered to Millemarin Investments Ltd., a Cayman Islands based firm. The listed owner, Eduard Khudainatov, a former executive of Russian oil giant Rosneft, is not under any current U.S. sanctions and maintains he owns the vessel lawyers have challenged the U.S. government's claim, arguing that the seizure and planned auction are unlawful. However, the U.S. Justice Department says it has solid evidence proving that Kerimov is the true owner, and that Khudainatov was used as a 'straw owner' to conceal the yacht's real ties. Officials remain confident that the sale can proceed, even as legal questions planned sale aligns with a broader U.S. policy of using confiscated Russian assets to support Ukraine's recovery. Proceeds from the auction are expected to be redirected to reconstruction efforts, humanitarian assistance, and rebuilding war damaged the yacht has cost the U.S. millions of dollars since it was seized. By auctioning it off, authorities not only reduce that financial burden but also send a strong message about the consequences of violating international norms. The Amadea auction marks one of the most high-profile attempts by the U.S. to convert luxury property from sanctioned individuals into meaningful global impact.A1.A superyacht is a large, luxurious private yacht, often equipped with high-end amenities like pools, cinemas, and helipads. They are usually owned by wealthy individuals and can cost hundreds of millions of dollars.A2. Suleiman Kerimov is a Russian billionaire who has been sanctioned by the U.S. and other countries for his ties to the Russian government. He is believed to own several high-value international assets
The Independent
2 days ago
- Business
- The Independent
US auctions off $325M seized Russian superyacht – including helipad, gym and spa
The United States is auctioning off the $325 million luxury superyacht Amadea, its first sale of a seized Russian superyacht since the launch of Russia's full-scale invasion of Ukraine. The auction, which closes Sept. 10, comes as President Donald Trump seeks to increase pressure on Russian President Vladimir Putin to end the war. The U.S. has said it's working with allies to put pressure on Russian oligarchs, some of whom are close to Putin and have had their superyachts seized, to try to compel him to stop the war. The 348-foot-long (106-meter-long) yacht, seized three years ago and currently docked in San Diego, was custom built by the German company Lürssen in 2017. Designed by François Zuretti, the yacht features an interior with extensive marble work, eight state rooms, a beauty salon, a spa, a gym, a helipad, a swimming pool and an elevator. It accommodates 16 guests and 36 crew members. Determining the real ownership of the Amadea has been an issue of contention because of an opaque trail of trusts and shell companies. The superyacht is registered in the Cayman Islands and is owned by Millemarin Investments Ltd., also based in the Cayman Islands. The U.S. contends that Suleiman Kerimov, an economist and former Russian politician, who was sanctioned by the U.S. in 2018 for alleged money laundering, owns the yacht. Meanwhile, Eduard Khudainatov, a former chairman and chief executive of the state-controlled Russian oil and gas company Rosneft, who has not been sanctioned, claims to own it. U.S. prosecutors say Khudainatov is a straw owner of the yacht, intended to conceal the yacht's true owner, Kerimov. Litigation over the true ownership of the yacht is ongoing. A representative of Khudainatov said in an emailed statement Wednesday that the planned sale of the yacht is 'improper and premature' since Khudainatov is appealing a forfeiture ruling. '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. The yacht has been virtually untouched since the National Maritime Services took custody of it in 2022. To submit a sealed bid on it, bidders must put in a 10 million euro deposit, the equivalent of roughly $11.6 million, to be considered. Ford said Khudainatov would go after any proceeds from the sale of the yacht, estimated to be worth $325 million. '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," Ford said. A U.S. aid package for Ukraine signed into law in May 2024 gave the U.S. the ability to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv, which was attacked by Russia in February 2022.
CTV News
3 days ago
- Business
- CTV News
The U.S. is auctioning a seized US$325M Russian yacht with 8 state rooms, a helipad, a gym and a spa
WASHINGTON — The United States is auctioning off the US$325 million yacht Amadea, its first sale of a seized Russian luxury ship since the start of Moscow's invasion of Ukraine. The auction, which closes Sept. 10, comes as U.S. President Donald Trump seeks to increase pressure on Russian President Vladimir Putin to end the war. The U.S. has said it's working with allies to put pressure on Russian oligarchs, some of whom are close to Putin and have had their yachts seized, to try to compel him to stop the war. The 348-foot-long (106-metre-long) yacht, seized three years ago and currently docked in San Diego, was custom built by the German company Lürssen in 2017. Designed by François Zuretti, the yacht features an interior with extensive marble work, eight state rooms, a beauty salon, a spa, a gym, a helipad, a swimming pool and an elevator. It accommodates 16 guests and 36 crew members. Determining the real ownership of the Amadea has been an issue of contention because of an opaque trail of trusts and shell companies. The yacht is registered in the Cayman Islands and is owned by Millemarin Investments Ltd., also based in the Cayman Islands. The U.S. contends that Suleiman Kerimov, an economist and former Russian politician, who was sanctioned by the U.S. in 2018 for alleged money laundering, owns the yacht. Meanwhile, Eduard Khudainatov, a former chairman and chief executive of the state-controlled Russian oil and gas company Rosneft, who has not been sanctioned, claims to own it. U.S. prosecutors say Khudainatov is a straw owner of the yacht, intended to conceal the yacht's true owner, Kerimov. Litigation over the true ownership of the yacht is ongoing. A representative of Khudainatov said in an emailed statement Wednesday that the planned sale of the yacht is 'improper and premature' since Khudainatov is appealing a forfeiture ruling. '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. The yacht has been virtually untouched since the National Maritime Services took custody of it in 2022. To submit a sealed bid on it, bidders must put in a 10 million euro deposit, the equivalent of roughly $11.6 million, to be considered. Ford said Khudainatov would go after any proceeds from the sale of the yacht, estimated to be worth $325 million. '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,' Ford said. A U.S. aid package for Ukraine signed into law in May 2024 gave the U.S. the ability to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv, which was attacked by Russia in February 2022. Fatima Hussein, The Associated Press
South China Morning Post
3 days ago
- Business
- South China Morning Post
US auctioning off seized US$325 million Russian superyacht with helipad, pool, gym and spa
The United States is auctioning off the US$325 million yacht Amadea, its first sale of a seized Russian luxury ship since the start of Moscow's invasion of Ukraine. The auction, which closes on September 10, comes as US President Donald Trump seeks to increase pressure on Russian President Vladimir Putin to end the war. The US has said it is working with allies to put pressure on Russian oligarchs, some of whom are close to Putin and have had their yachts seized, to try to compel him to stop the war. The 106-metre-long (348-foot-long) yacht, seized three years ago and currently docked in San Diego, was custom built by the German company Lurssen in 2017. Designed by François Zuretti, the yacht features an interior with extensive marble work, eight state rooms, a beauty salon, a spa, a gym, a helipad, a swimming pool and a lift. It accommodates 16 guests and 36 crew members. Determining the real ownership of the Amadea has been an issue of contention because of an opaque trail of trusts and shell companies. The yacht is registered in the Cayman Islands and is owned by Millemarin Investments, also based in the Cayman Islands. The US contends that Suleiman Kerimov, an economist and former Russian politician, who was sanctioned by the US in 2018 for alleged money laundering, owns the yacht. Meanwhile, Eduard Khudainatov, a former chairman and chief executive of the state-controlled Russian oil and gas company Rosneft, who has not been sanctioned, claims to own it.
Yahoo
3 days ago
- Business
- Yahoo
US is auctioning $325M Russian superyacht Amadea, which boasts 8 state rooms, helipad, gym and spa
WASHINGTON (AP) — The United States is auctioning off the $325 million luxury superyacht Amadea, its first sale of a seized Russian superyacht since the launch of Russia's full-scale invasion of Ukraine. The auction, which closes Sept. 10, comes as President Donald Trump seeks to increase pressure on Russian President Vladimir Putin to end the war. The U.S. has said it's working with allies to put pressure on Russian oligarchs, some of whom are close to Putin and have had their superyachts seized, to try to compel him to stop the war. The 348-foot-long (106-meter-long) yacht, seized three years ago and currently docked in San Diego, was custom built by the German company Lürssen in 2017. Designed by François Zuretti, the yacht features an interior with extensive marble work, eight state rooms, a beauty salon, a spa, a gym, a helipad, a swimming pool and an elevator. It accommodates 16 guests and 36 crew members. Determining the real ownership of the Amadea has been an issue of contention because of an opaque trail of trusts and shell companies. The superyacht is registered in the Cayman Islands and is owned by Millemarin Investments Ltd., also based in the Cayman Islands. The U.S. contends that Suleiman Kerimov, an economist and former Russian politician, who was sanctioned by the U.S. in 2018 for alleged money laundering, owns the yacht. Meanwhile, Eduard Khudainatov, a former chairman and chief executive of the state-controlled Russian oil and gas company Rosneft, who has not been sanctioned, claims to own it. U.S. prosecutors say Khudainatov is a straw owner of the yacht, intended to conceal the yacht's true owner, Kerimov. Litigation over the true ownership of the yacht is ongoing. A representative of Khudainatov said in an emailed statement Wednesday that the planned sale of the yacht is 'improper and premature' since Khudainatov is appealing a forfeiture ruling. '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. The yacht has been virtually untouched since the National Maritime Services took custody of it in 2022. To submit a sealed bid on it, bidders must put in a 10 million euro deposit, the equivalent of roughly $11.6 million, to be considered. Ford said Khudainatov would go after any proceeds from the sale of the yacht, estimated to be worth $325 million. '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," Ford said. A U.S. aid package for Ukraine signed into law in May 2024 gave the U.S. the ability to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv, which was attacked by Russia in February 2022. Fatima Hussein, The Associated Press
