Russian Superyacht Docks In San Diego Flying American Flag
By K. Oanh Ha (Bloomberg) After a stopover in Hawaii, the $325 million superyacht that’s tied to Russian billionaire Suleiman Kerimov and that was seized by US authorities in Fiji has sailed into a port in Southern California.
The Amadea, a luxurious megayacht that’s nearly as long as a football field and features a helipad, docked in San Diego Monday morning local time, according to vessel data compiled by Bloomberg. It had spent a few days in Honolulu after the US hired a new crew and sailed the superyacht out of Fiji on June 7, flying the American flag after winning a legal battle.
The stop in San Diego caps a more than 13,000-nautical-mile odyssey for the vessel as it attempted to find a safe haven, with US agents from multiple government agencies pursuing it. The seizure is a huge win for the US as it looks to punish titans close to President Vladimir Putin by going after their megayachts, villas, and other assets.
With the ship now in US hands, authorities from that nation will bear the responsibility for its maintenance, which the Federal Bureau of Investigation has estimated will cost between $25 million to $30 million annually, according to court documents seen by Bloomberg.
President Joe Biden has pushed for legislation that’s been passed by lawmakers in the House of Representatives that would allow the US to seize yachts like the Amadea and other assets of sanctioned Russians, liquidate them, and use those funds to benefit Ukraine. The European Union is considering similar measures.
Still, there may be risks for buyers of seized yachts, according to Benjamin Maltby, a partner who specializes in superyacht law at London-based Keystone Law.
“Buyers need to be aware that certain countries may not necessarily recognize the seizure and transfer of ownership,” said Maltby. “Clearly, the risk is higher for countries that are at odds politically with the West — and these are unlikely to be countries one would wish to cruise to — but it’s something potential buyers should keep in mind.”
Moar at sauce
https://gcaptain.com/russian-superyacht-san-diego/