Tag: Russian Sanctions
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Interview: IYC CEO Raphael Sauleau on What’s to Come for the Superyacht Industry in 2025 & Beyond
Earlier this month, the CEO of yachting firm IYC sat down with The Maritime Observer in a conversation forecasting what awaits the superyacht market in 2025 and beyond. Over the course of this conversation, Sauleau provided insight on a conveyor belt of trends, opportunities, and challenges concerning the industry, from the U.S. presidential elections to…
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Supreme Court Hearing Date Set for Seized Superyacht PHI
Phi, the 60-meter superyacht moored at the UK’s Canary Wharf Harbour since March 2022, has its last chance to appeal its seizure with a Supreme Court hearing set for January 16th, 2025. The motor yacht is built by Dutch shipyard Royal Huisman for Russian businessman Sergio Numyenko. She was delivered in 2021, after which made…
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Court Ruling For The Sale of M/Y Alfa Nero Set For Early 2025
According to the Antigua Observer, a ruling on the seizure of the 82-meter motor yacht Alfa Nero is expected to be made by the Antiguan High Court in February 2025. The sale of Alfa Nero was challenged by Yulia Guryeva-Motlokhov and the yacht’s special purpose vehicle (SPV) Flying Dutchman Overseas, the British Virgin Island-registered company…
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M/Y Meridian A to Remain Seized by Spanish Authorities after EU Court Rejects Appeal For Annulment
Sulberg Services v Council (Case T-1084/23) The 85-meter motor yacht Meridian A to remain under arrest by Spanish Authorities after the EU Court rejected an appeal for annulment for Council Decision (CFSP) 2023/1767 of 13 September 2023. For the first time since 2022, an update has been given on the status of M/Y Meridian A,…
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The Protracted Journey of Royal Romance
The superyacht industry continues to feel the effects 2022 Russian Invasion of Ukraine, where countries including the US, EU, and UK imposed sanctions on Russia with the aim of pressuring individuals or entities to cease actions destabilizing Ukraine or threatening its territorial integrity. The damage was felt in different parts of the sector. From a…
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Royal Romance to be officially auctioned; Asset Recovery and Management Agency (ARMA) of Ukraine announces
The sanctioned motor yacht Royal Romance is set to be auctioned after ownership was transferred to the Ukrainian government. In January 2024, The Asset Recovery and Management Agency (ARMA) of Ukraine announced that Royal Romance’s ownership would be transferred to Ukraine, following the Croatian court’s ruling, with ARMA planning to auction her off “as soon…
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Court of Appeal rules in favor of The Secretary of State for Transport; finding the High Court’s decision to M/Y PHI’s seizure lawful
Court of Appeal rules in favor of The Secretary of State for Transport; finding the High Court’s decision to M/Y PHI’s seizure lawful Dalston Projects Limited and others (appellants) v The Secretary of State for Transport (respondent) Not the denouement her owner, captain, crew, and spectators hoped for, the 60-meter motor yacht Phi will continue…
