WELLINGTON, New Zealand (AP) — A judge in Fiji is scheduled to rule Tuesday on whether U.S. authorities can seize the luxurious superyacht Amadea — valued at around $325 million — which has been prevented from sailing due to its ties to Russia to leave the South Pacific nation.
But a crucial question remains as to which oligarch really owns the Amadea. Only one of the two possible candidates faces sanctions.
Is the real owner Suleiman Kerimov? That’s what the US claims.
Kerimov, an economist and former Russian politician, was sanctioned by the US in 2018 for alleged money laundering and faced further sanctions from Canada, Europe and the UK after Russia invaded Ukraine. Kerimov made a fortune investing in Russian gold producer Polyus, with Forbes magazine putting his net worth at $14.5 billion.
Or is the real owner Eduard Khudainatov? Defense attorneys say so.
Khudainatov is the former chairman and chief executive officer of Rosneft, the Russian state-controlled oil and gas company. Crucially, Khudainatov does not appear to be facing sanctions at this time, unlike many oligarchs and people with close ties to Russian President Vladimir Putin who have been sanctioned since the war began.
As with many superyachts, the Amadea’s true ownership is difficult to determine due to the shadowy trail of trusts and shell companies. On paper, the superyacht is registered in the Cayman Islands and owned by Millemarin Investments Ltd., also based in the Cayman Islands.
Defense attorneys have claimed in court that Millemarin Investments Ltd. (sometimes spelled Millemarine) is the legal owner of the vessel and that the company is affiliated with the actual or beneficial owner Khudainatov. But US authorities have claimed that behind all the various fronts, Kerimov is the real owner.
On April 19, after the yacht sailed from Mexico to Fiji, the Supreme Court in Suva ordered the Amadea not to leave Fiji until the merits of the US warrant impounding the ship were resolved. Perhaps because of the ownership issue, the court later ordered Fijian prosecutors to amend an original subpoena that named only Kerimov to also include Millemarin Investments Ltd. to be included in the case as a second defendant.
For now, the yacht continues to sit in a Fijian port and her crew of about 25 rotate on and off the vessel, while a police officer remains on board to ensure it stays in place.
According to Boat International, the Amadea is 106 meters long and was built in 2017. foot) pool, a hand-painted Pleyel piano and a large helipad.
The U.S. Embassy in Suva said in a statement that the U.S. was working with allies and partners around the world to impose costs on Russia over its “war by choice.”
“We continue to up the pressure on Putin’s oligarchs and work with allies and partners to extract corrupt profits from some of the individuals closest to Putin, no matter where in the world they are being held,” the embassy said.