Italian authorities are currently investigating whether a mysterious superyacht moored in a northern port should be seized under Russian sanctions following rumors that it may belong to Vladimir Putin himself.
The $700 million Scheherazade is one of the largest and most expensive superyachts in the world, and since her launch in 2020, her true ownership has been a total mystery.
Currently moored for repairs at the Italian Sea Group shipyard in Marina di Carrara, Italy, the Scheherazade is protected by measures that are extreme even by the ultra-private standards of the superyacht world: covers hide her nameplate and a metal barrier erected in part to block the boat from prying eyes.
For more than a year, shipyard workers have speculated that the ship belongs to Putin himself, a source told this week. “There were rumors that it belonged to Putin,” the man said.
The source said the Scheherazade’s crew appeared to be Russians, and that the German team working on the ship’s repairs was withdrawn by their head office after the EU announced its sanctions last week.
However, the British captain of the ship, Guy Bennett-Pearce, denied that Putin owns the Scheherazade or was ever on board, telling the New York Times: “I never saw him. I never met him.
Italian authorities are currently investigating whether the Scheherazade superyacht should be seized in line with international sanctions. Rumor has it that the boat shown above in August 2020 belongs to Vladimir Putin himself.
Currently moored for repairs (above) at the Italian Sea Group shipyard in Marina di Carrara, Italy, the Scheherazade is protected by measures that are extreme even by the ultra-private standards of the superyacht world.
For more than a year, Italian shipyard workers have speculated that the ship belongs to Putin himself, a source told this week. “There were rumors that it belonged to Putin,” the man said.
Bennett-Pearce declined to name the owner of the Scheherazade, citing a strict non-disclosure agreement, and did not rule out that the owner is a Russian. However, he insisted that the owner was not on any sanctions list.
The captain said Italian investigators boarded on Friday and examined some of the ship’s certification documents, and that he planned to hand over documents identifying the true owner on Tuesday, telling the Times he “had no choice.”
“I have no doubt that this will clear the ship of all negative rumors and speculation,” Bennett-Pierce said.
The Italian investigation into Scheherazade’s ownership comes as authorities across Europe seek to identify and confiscate yachts linked to Russian oligarchs under new sanctions for invading Ukraine.
Last week, French authorities seized the superyacht Amore Vero in the Mediterranean resort town of La Ciotat.
The 289-foot vessel is believed to be owned by Igor Sechin, a Putin ally who runs the Russian oil giant Rosneft, which has been on a US sanctions list since Russia annexed Crimea in 2014.
The French finance ministry said in a statement that customs authorities boarded the Amore Vero and found its crew preparing for an emergency departure, despite scheduled repairs not being completed.
The Italian investigation into Scheherazade’s ownership comes at a time when authorities across Europe are seeking to identify and confiscate yachts linked to Russian oligarchs featured in new sanctions for invading Ukraine.
The $700 million Scheherazade yacht (visible in dry dock) is one of the largest and most expensive superyachts in the world, and since its launch in 2020, its true ownership has been shrouded in absolute secrecy.
It is known that Putin loves luxury yachts. In the photo, he travels with Belarusian leader Alexander Lukashenko.
Meanwhile, the 213-foot yacht Lady M, sanctioned by steel baron Alexei Mordashov, was detained by Italian authorities on Friday while she was anchored in the port city of Imperia on the Riviera.
And in San Remo, Italy, authorities seized the yacht Lena, owned by Putin ally and oil billionaire Gennady Timchenko.
The 511-foot Dilbar, arguably the world’s largest superyacht, has now been ordered to remain in the port of Hamburg as local authorities try to identify her owner.
Russian oligarchs account for a significant portion of the global superyacht market. Among all superyacht projects over 164 feet under construction or on order, Russians make up 17 percent of all owners, according to Boat International.
This gave rise to rumors about Scheherazade, whose ownership remains one of the biggest mysteries in the world of yachting.
The luxury vessel has two heliports, but little is known about the interior features, and there are no known photographs of the inside of the boat.
The Scheherazade, whose ownership remains one of the biggest mysteries in the yachting world, has two helipads, but little is known about the interior, and no known photos from inside the boat.
The Scheherazade, one of the largest superyachts in the world, drops anchor in the Bodrum area of Muğla, Turkey on August 16, 2020.
Scheherazade was built by the German firm Lürssen, and a source told that the boat is managed by Imperial Yachts, a Monaco-based company that also oversaw its construction.
Industry website SuperYachFan, which estimates the boat’s value at $700 million, estimates that the Scheherazade has room for a crew of 40 and about 18 passengers.
Scheherazade was built by the German firm Lürssen, and a source told that the boat is managed by Imperial Yachts, a Monaco-based company that also oversaw its construction.
According to Reuters, Imperial Yachts also operates Amore Vero, a seized yacht owned by Sechin.
An industry source told that “ninety percent of Russians operate Imperial ships.”
It is assumed that Imperial, headed by CEO Evgeny Kochman, is implementing four more projects at the Italian Sea Group shipyard. The owners of these projects were not immediately clear.
A spokesperson for Imperial did not immediately respond to a request from on Tuesday.
The officially registered owner of the Scheherazade is Bielor Assets Ltd, registered in the Marshall Islands, and the ship sails under the flag of the Cayman Islands.
The ship is called the Scheherazade, after the protagonist of the Middle Eastern storybook known as the Thousand and One Nights.
It is also the title of a symphonic suite by Russian composer Nikolai Rimsky-Korsakov based on fairy tales.
The smaller and older vessel, the Greisful (seen in Hamburg last month) has long been suspected of being Putin’s.
The Graceful left port in Germany on February 7 (above), about two weeks before Russia’s invasion of Ukraine, and is currently moored in the Russian enclave of Kaliningrad on the Baltic Sea, out of reach of Western sanctions.
Rumors of a connection between the ship and Putin at Marina di Carrara have become widespread since the ship first docked there last winter, the source said.
The man said the shipyard workers believed the original owner was from the Middle East, but at some point the boat was sold to Putin or another wealthy Russian.
The SuperYachtFan website also suggested that a Middle Eastern billionaire could be the owner of the boat.
Putin’s officially declared net worth is about $150,000, and there are very few assets. But the Russian leader’s true net worth, which some say is as high as $100 billion, has never been confirmed.
Forbes recently called it “the most elusive mystery in the hunt for riches.”
However, Putin’s fondness for luxury yachts is well known.
Previously, he was photographed on yachts from the Black Sea to the south-north regions of Russia.
Last May, he and Belarusian leader Alexander Lukashenko took a yacht cruise near the Black Sea resort of Sochi.
The smaller and older ship, the Graceful, has long been suspected of being Putin’s.
The Graceful’s hull, the only superyacht in the world, was laid down at a Russian navy yard and then completed in Germany, an industry source told .
The Graceful left port in Germany about two weeks before Russia’s invasion of Ukraine and is currently docked in the Russian enclave of Kaliningrad on the Baltic Sea, out of reach of Western sanctions.
However, the Scheherazade was stuck in a drydock in Italy for repairs, and a person familiar with the matter said she would not be able to sail before the end of March.