Royal Romance, the 92-meter motor yacht, will no longer be auctioned off by the Asset Recovery and Management Agency ( ARMA) of Ukraine after a new decision made by the Croatian court canceled its prospective sale. Royal Romance, owned by sanctioned Ukrainian lawyer Viktor Medvedchuk, was seized in March 2022 as she was docked in Croatia following the Russian Invasion of Ukraine. Following a Croatian court ruling, ownership of the vessel was transferred to the Ukrainian government, which had plans to sell the asset for Ukraine’s benefit.
Publishing the news to his telegram channel, Yaroslav Zheleznyak, deputy chairman of the Councilʼs Committee on Finance, Tax and Customs Policy in Ukraine, announced the news after the District Court of Split lifted the arrest of the yacht on June 25th, adding “Ukraine might lose this asset altogether.” The reasons for canceling the sale are attributed to a “lack of indictment” from the Prosecutor General’s Office for the criminal case. Further, according to Zheleznyak, decisions regarding Royal Romance remain under the aegis of the Croatian Court since the yacht is still docked in Croatia.