Several Russian oligarchs own them – superyachts costing hundreds of millions of euros. Now the sanctions have apparently been circumvented.
The largest sailing yacht in the world “Sailing Yacht A”, belongs to the oligarch Andrei Melnitschenko of St. Moritz. The Russian was the main owner of the EuroChem fertilizer company and the Suek coal company. However, due to imposed sanctions, the yacht was confiscated by the Italian authorities in March of this year.
The super yacht is a particularly large ocean yacht with luxurious facilities: the futuristic boat it is 143 meters long and has 8 huge floors.
Common sense
After the confiscation, a spokesman for Melnichenko told Stern: “We will challenge these baseless and unwarranted sanctions and believe that the rule of law and common sense will prevail.” This should have happened now. Melnichenko’s spokesman told Forbes: “The yacht is owned by a trust company managed by an independent trustee and Mr. Melnichenko has no relationship with that trust company.”
Read More: Putin Boasts Plenty of Missiles After Attacks
New under the flag of Sierra Leone
Until now, the mega yacht flew the flag of the British Isle of Man sailing the oceans of the world. However, after the Italian authorities confiscated the yacht, she disappeared from the register there. The floating palace now sails under the flag of the African country of Sierra Leone.
“530 million euro yacht is a floating home”
now this is The 530 million euro object is no longer a yacht, but a houseboat. But what good is the oligarch if his mega yacht is registered as such? A question also asked by Benjamin Maltby, a London-based lawyer specializing in yachts. “It only makes sense if they are completely disconnected and physically unable to move,” the lawyer told Forbes. And yet: “On the other hand, it makes little sense To them in another country”.
Will yachts now be registered as houseboats to avoid tax?
Market experts believe that pro-Kremlin oligarchs are speculating that they to be able to legally sail the world’s oceans again under a new flag. Also, they pay much less tax when their mega yachts are registered as houseboats.
Read more: New Wave of Attacks – Ukraine Air Alert
Navigation account dh Hour29.12.2022, 18:05| Law: 12.29.2022, 19:14