Russian Billionaire's £500m Megayacht Seized in Italy
A £500million megayacht, 'A', owned by Russian billionaire Andrey Melnichenko, has been seized and is currently docked in Trieste, Italy. The yacht, one of the world's largest and most luxurious, has been anchored there for over three years, with maintenance costs reaching around £24million so far.
The yacht, 'A', was built by German Naval Yards in Nobiskrug and launched in 2017. It boasts impressive features such as three masts taller than Big Ben, eight decks, and a hybrid diesel-electric propulsion system. Melnichenko made headlines in 2017 when he moored the yacht on the River Thames near Tower Bridge in London.
Melnichenko, one of Russia's wealthiest men with an estimated fortune of over $15billion, is also known for his political connections. He was one of 37 businessmen who met with Putin after the Russia news of the invasion of Ukraine to discuss potential sanctions. The EU has described him as belonging to the most influential circle of Russian businesspeople with close ties to the Russian government.
The yacht was seized in March 2022, with the financial responsibility for its maintenance and preservation lying with the owner or his representatives. The mayor of Trieste, Roberto Dipiazza, has criticized the high cost of maintaining the yacht, which amounts to around £30,000 per day, and demanded to know who will ultimately foot the bill.
The seizure of the megayacht 'A' comes amidst ongoing sanctions against Russian oligarchs following the Ukraine invasion. The yacht's future remains uncertain, with maintenance costs continuing to accumulate in Trieste.
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