Gibraltar holds sanctioned Russian billionaire’s superyacht

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Authorities in the British overseas territory of Gibraltar detained a yacht belonging to a sanctioned Russian billionaire on Monday, while French authorities reportedly detained two yachts belonging to another sanctioned Russian billionaire over the past week. This brings the total number of superyachts blocked, frozen or written off since the Russian invasion of Ukraine on February 24 to nine.

Gibraltar, located at the southern tip of Spain, held Dmitry Pumpyansky’s 236ft yacht Axioma on Monday. The vessel was allowed to dock in exceptional circumstances “in the interests of creditors with appropriate claims against the vessel”, the Gibraltar government said in a statement. the Supreme Court of Gibraltar. The ship had left the Caribbean island of Antigua on March 4.

Pumpyansky owns Axioma, which is registered in Malta, through Pyrene Investments Ltd, based in the British Virgin Islands. According to yacht valuation experts Value of ships, Axioma is worth $42 million. Built in 2013 by Turkish shipbuilder Dunya Yachts and originally known as ‘Project Red Square’, the yacht features a 3D movie theater and a water sports center, including jet skis, kayaks and snorkeling equipment, as well as a steam room, sauna and gym. It has six cabins that can accommodate 12 people, including a VIP and a master suite. Pumpyansky built his fortune as the owner of pipe group TMK, which supplies pipes to Russian oil giant Gazprom. It was sanctioned by the European Union on March 9 and by the United Kingdom on March 15.

Wednesday, France Media Agency reported that French authorities had seized two yachts belonging to Alexei Kuzmichev, according to a French government source. One, the 85ft Big Bear, was seized in Antibes on Monday; the other, the 56-foot Little Bear, was seized in Cannes on March 16, according to AFP. French authorities valued the two yachts at $99 million. Kuzmichev is a partner of Mikhail Fridman, Pyotr Aven and German Khan in Luxembourg investment groups LetterOne and Alfa Group. He resigned from LetterOne’s board on March 8, a week before he was hit with UK and EU sanctions.

Forbes account at least nine yachts with a collective value of $1.6 billion have been blocked, written off or frozen since the Russian invasion. These include top Facebook investor Alisher Usmanov, one of the world’s largest yachts, worth $588 million, which is stuck in the German port city of Hamburg and was blocked by US sanctions on March 3, as well as Andrey Melnichenko’s SY A, the largest sailboat, which was frozen by Italian authorities on March 12.

To follow Forbes‘ reporting on all yachts owned by Russian billionaires here:

MORE FORBESBiden and his allies come for the yachts of Russian billionaires: Forbes has found 37 of them. Here’s where to find them

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