Latest news with #Khudainatov
India.com
2 days ago
- Business
- India.com
Rs 270000000000: Helipad, gym, luxurious saloon and..., US set to auction superyacht seized from..., name is...
A super luxurious yacht docked at a U.S. port is now going up for auction and its price will shock most people. This massive yacht, named Amadea , is worth around Rs. 2,700 crore (about USD 325 million). It's 106 meters long and was once a symbol of luxury for Russian billionaires. But now, the U.S. has seized it and is putting it up for sale. This will be the first time America is auctioning off a Russian-owned yacht since the Russia-Ukraine war began. The auction will end on September 10, and the U.S. is looking for a serious buyer who can pay a deposit of 10 million euros (around Rs. 116 crore) to make a bid. According to U.S. authorities, this move is part of their effort to put pressure on Russia, hoping it will push President Vladimir Putin to stop the war. Who really owns the yacht? There's not just talk about the yacht's luxury, there's also a legal battle over who really owns it. Amadea is officially registered under a company called Millemarin Investments Ltd., based in the Cayman Islands. But the U.S. government says the real owner is Russian billionaire and former politician Suleiman Kerimov, who was placed under U.S. sanctions in 2018 for alleged money laundering. However, Eduard Khudainatov, the former chairman and CEO of Russian oil company Rosneft, claims he is the actual owner of Amadea . Interestingly, Khudainatov is not under any international sanctions. But U.S. prosecutors believe he is just a 'straw owner' someone who is listed as the owner on paper, while the real control and money come from someone else, in this case, Kerimov. They argue that Khudainatov is just the face being used to hide the true ownership. How Luxurious is the 'Amadea'? The Amadea was built in 2017 by the famous German shipbuilder Lürssen and designed by François Zuretti. It is packed with luxury features, including 8 staterooms, a lavish salon, a spa, a helipad, a swimming pool, a gym, a wine cellar, a lobster tank, and even an elevator. It can host 16 guests and has space for 36 crew members. This floating palace is no less than a five-star hotel on water. For the past three years, Amadea has been docked in San Diego, and since 2022, the U.S. National Marine Service has been maintaining it. Legal trouble After the auction was announced, Khudainatov's side reacted strongly. His lawyer, Adam Ford, told the Associated Press (AP) that selling the yacht now is illegal and premature . This is because Khudainatov is still challenging the U.S. government's seizure of the yacht in court. Ford warned that if the U.S. rushes the sale just to avoid paying maintenance costs, the new buyer might face years of legal battles in international courts. So, anyone thinking of buying the yacht should be prepared for a complicated legal situation. A new way for the US to support Ukraine In May 2024, the U.S. Congress passed a new law that allows the government to seize Russian assets within the country and use them to support Ukraine. The sale of the Amadea superyacht is happening under this new policy. It's a move meant to increase pressure on wealthy Russians who support President Vladimir Putin. US looking for a 'rational buyer' The U.S. government hopes that if the yacht sells for a good price, it will send a strong global message about how Russian assets can be targeted. But buying this yacht isn't simple and it comes with legal risks, as ownership is still being challenged in court.
Time of India
3 days ago
- Business
- Time of India
$325 million Russian superyacht seized by US — now you can bid on its helipad, spa, and 8 lavish staterooms
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 sanctions. The 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 claims. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Ownership Dispute Clouds the Sale Though 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 legitimately. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Undo Khudainatov's 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 linger. Proceeds Expected to Support Ukraine Aid The 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 infrastructure. Live Events Maintaining 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. FAQs: Q1. What is a superyacht? 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. Q2. Who is Suleiman Kerimov? 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 .
Indian Express
3 days ago
- Business
- Indian Express
Helipad, gym, salon — and now up for grabs: US to auction $325 million Russian superyacht
The United States is auctioning off the Amadea, a $325 million luxury yacht — its first sale of a seized Russian vessel since the beginning of Moscow's invasion of Ukraine. The auction closes on September 10, and comes as President Donald Trump seeks to increase pressure on Russian President Vladimir Putin to end the war. The US government has stated it is working with allies to target Russian oligarchs, particularly those close to Putin, by seizing their assets — including luxury yachts — in an effort to compel the Russian leader to halt the invasion. The Amadea, a 348-foot-long (106-metres) superyacht docked in San Diego, was seized three years ago. Built by German shipbuilder Lürssen in 2017 and designed by François Zuretti, the vessel boasts interiors with extensive marble, eight state rooms, a beauty salon, spa, gym, helipad, swimming pool, and an elevator. It accommodates 16 guests and 36 crew members. Determining the true ownership of the Amadea has been highly contested due to an opaque trail of shell companies and trusts, the Associated Press (AP) said in a report. The yacht is registered in the Cayman Islands and is owned by Millemarin Investments Ltd., also based there. The US maintains that Suleiman Kerimov, an economist and former Russian politician who was sanctioned by the US in 2018 for alleged money laundering, is the actual owner. However, Eduard Khudainatov, the former chairman and chief executive of Russian state-controlled oil and gas giant Rosneft, who has not been sanctioned, claims he owns the yacht. US prosecutors argue that Khudainatov is a straw owner, used to hide Kerimov's ownership of the vessel. Litigation regarding the true ownership is ongoing. A straw owner is a person or entity who pretends to be the legal owner of an asset on behalf of someone else, in order to conceal the true ownership. A representative for Khudainatov said in an emailed statement to the AP on 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,' the AP quoted the representative, Adam Ford, as saying. The Amadea has remained virtually untouched since National Maritime Services took custody of it in 2022. Interested bidders must submit sealed offers with a 10 million euro deposit — roughly $11.6 million — to be considered. Ford stated that Khudainatov will pursue any proceeds from the sale and hold the US government accountable for any undervaluation. '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. In May 2024, a US aid package for Ukraine was signed into law, granting the US the authority to seize Russian state assets located within its borders and redirect them to benefit Kyiv. Russia invaded Ukraine in February 2022, and the war continues despite mounting international pressure.
9 News
3 days ago
- Business
- 9 News
US is auctioning seized $500 million Russian yacht
The US government is auctioning off the $US325 million ($500 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 President Donald Trump seeks to increase pressure on Russian President Vladimir Putin to end the war. The US 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 106-metre-long yacht, seized three years ago and currently docked in the US city of 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 a lift. It accommodates 16 guests and 36 crew members. 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. US 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 on 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 US National Maritime Services took custody of it in 2022. To submit a sealed bid on it, bidders must put in a $US11.6 million deposit, to be considered. Ford said Khudainatov would go after any proceeds from the sale of the yacht, estimated to be worth $US325 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. An American aid package for Ukraine signed into law last May gave the US the ability to seize Russian state assets in the US and use them for the benefit of Kyiv, which was attacked by Russia in February 2022.
Yahoo
3 days ago
- Business
- Yahoo
US is auctioning a seized $325M Russian yacht with 8 state rooms, a helipad, a gym and a spa
WASHINGTON (AP) — The United States is auctioning off the $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 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-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 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.
