Russian oligarch’s $200 million superyacht to be auctioned to benefit Ukraine war victims
Oligarch’s $200m superyacht to be auctioned to benefit Ukraine war victims
A superyacht belonging to Ukrainian oligarch Viktor Medvedchuk will be sold in auction with the money going to victims of the ongoing conflict in Ukraine. The yacht, valued at somewhere around $200 million, is currently in Croatia after Medvedchuk was sanctioned due to his connections with Russian President Vladimir Putin. The Croatian court asked the authorities to complete the auction and transfer the money to the Ukrainian Asset Recovery and Management Agency (ARMA).
The judgement stated that this measure will “preserve the economic value by selling it at auction”.
While it has been suggested by the Ukrainian government and other pro-Ukraine groups in the past, this is the first auction of its kind where the money will go straight to the victims.
“ARMA searched for the specified asset within the framework of the criminal proceedings and subsequently after imposing the arrest received the elite property to preserve the economic value by selling it at auctions,” a spokesperson for the Ukrainian government told The Guardian.
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ARMA was established by the Volodymyr Zelensky-led government for “finding, tracing and management of assets derived from corruption”. According to AFP, the officials belonging to the organisation have already ““inspected the yacht belonging to the family members of a people’s deputy and one of the leaders of a political force banned in Ukraine”.
Medvedchuk, who was a pro-Russia Ukrainian politician, was arrested in April and later sent to Russia as part of a prisoner swap. He is also the godfather to Putin’s daughter Daria.
The yacht, known as Royal Romance, was confiscated by the Croatian police on behalf of the FBI.