The relatively unknown Russian oligarch Sergej Naumenko has long wanted to get his superyacht back, after the British authorities confiscated it following the Russian invasion of Ukraine.
Naumenko claimed that the confiscation contravened his rights to hold assets in the UK. But on Friday, the UK Supreme Court ruled that the boat remains confiscated.
The British Supreme Court judge Sir Ross Cranston is said to have stated that the confiscation of the yacht was against British law, but that the effect of British sanctions on the Russian economy is of greater importance, writes The Telegraph.
– We will continue to take action where necessary to crack down on those who benefit from Putin’s regime and their illegal warfare in Ukraine, says a spokesperson for the British Ministry of Transport, according to the news agency Reuters.
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Luxusyacht
The yacht “Phi” is said to have cost close to NOK 500 million at today’s rate, and was built at the Dutch shipyard Royal Huisman in 2021.
The boat is 58.5 meters long and has room for twelve guests and eleven crew members. The Telegraph writes that the yacht could be rented for NOK 5.5 million before it was seized by the British authorities.
There is little information to be found about Naumenko, but he is described as a “Putin friend” by the British authorities – something he himself denies. Naumenko’s lawyer says his client is considering appealing the decision, and believes he is being sanctioned for being a rich Russian who doesn’t really have any political influence in Russia.
Several yachts seized
Since the start of the war in Ukraine, Western authorities have sanctioned Russian companies and individuals. A number of yachts have also been seized.
In April last year, the Netherlands seized 20 yachts, before two days later Germany seized the world’s largest yacht from a Russian oligarch.
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2023-07-22 18:00:38
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