US prosecutor's office wants to seize sanctioned Russian oligarch's yacht

New York prosecutors filed a civil forfeiture suit for 106-metre Amadea superyacht worth over US$300 million that is linked to the Russian oligarch Suleiman Kerimov.

Source: European Pravda, citing the US Department of Justice

Details: According to the lawsuit, Kerimov, who has been under US sanctions since 2014 due to his involvement in Russian aggression against Ukraine, negotiated the purchase of the Amadea superyacht through front persons in 2021.

Among other things, the superyacht formally became the property of the newly created company named Errigan Marine in September 2021, whose formal owner is Yevgeny Kohman, CEO of the sanctioned Imperial Yachts yacht broker.

"Beginning in October 2021 through the date the yacht was seized by Fijian authorities in April 2022, Kerimov and/or his family members took multiple trips aboard the Amadea, planned extensive renovations to the Amadea, made long-term plans for the Amadea’s travel schedule, and assumed all liability and responsibility for the Amadea’s upkeep and running costs," the US Department of Justice wrote.

Suleiman Kerimov is one of the richest Russian citizens, with a net worth of US$10.7 billion, according to Forbes magazine. Most of Kerimov's wealth is connected to his share in the Russian gold producer Polyus.

The US Department of the Treasury imposed sanctions on Kerimov in 2014 and 2018 in response to Russia's actions in Syria and Ukraine, and extended the restrictions to Polyus in May 2023.

Background: In February 2023, the district judge of the Manhattan federal court authorised the prosecutor's office to confiscate US$5.4 million belonging to the Russian oligarch Konstantin Malofeyev.

More on this topic: Two Examples to Punish Russia: How US Confiscated Enemy-Owned Assets

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