Tag: Russian Yachts

Auction to sell Royal Romance called off; Yacht Potentially No Longer Under Ukrainian Ownership

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…
Sale of seized yacht AMADEA blocked by US. Court

The US government, in possession of the seized luxury motor yacht AMADEA, was denied its request to obtain the right to sell the yacht by a New York court. Amadea, belonging to sanctioned Russian oligarch Suleyman Kerimov, was seized as it was docked in Fiji in May 2022, following the U.S. sanctions imposed on Russia….
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…
ARMA in talks with Boathouse Auctions for the selling of seized motor yacht Royal Romance

Days after auction house Troostwijk Auctions announced they are no longer in talks withARMA to sell the seized motor yacht Royal Romance, a potential central agent has entered in it’s place. Boathouse Auctions, an online yacht auction marketplace based in the United States, has entered into the initial negotiations for the sale of the 92-meter…
Troostwijk Auctions no longer the central agent to seized motor yacht Royal Romance

After the Asset Recovery and Management Agency ( ARMA) of Ukraine confirmed the auction of the seized motoryacht ROYAL ROMANCE with Troostwijk Auctions, plans for the auction have fizzled out. In a statement shared with The Maritime Observer, the auction house states “Troostwijk will not be the auction platform to enable the sale. While we…
Dalston Projects Limited vs. The Secretary of State for Transport – Will the Supreme Court grant a “Permission to Appeal”?

Phi, the 60-meter luxury motor yacht owned by Russian businessman Sergei Naumenko, has been the inadvertent face of the UK’s sanctions regime in response to the Russian invasion of Ukraine. After the latest Court of Appeal ruling dismissing Naumenko’s challenge of the High Court ruling, Phi remains docked at London’s Canary Wharf as the Court…
United States government plans to sell seized motor yacht AMADEA after strenuous maintenance costs

US v. M/Y Amadea, 23-cv-09304, US District Court, Southern District of New York. The 106-meter motor yacht Amadea was seized in May 2022 while docked in Fiji after her owner, Suleiman Kerimov, was placed under the U.S. sanctions list due to the Russian invasion of Ukraine, Mr. Kerimov’s third time becoming a designated person in…
Deep Dive – M/Y Phi Challenges UK High Court Decision

You may recognize M/Y Phi as the backdrop of then UK Secretary of State for Transport Grant Shapps’ polemic at West India & Millwall Docks in London, delivering a stark warning of how the country plans to address Russian individuals as a result of the Russian invasion of Ukraine, using the yacht as an emblem…