A superyacht that belonged to a Russian billionaire was auctioned on Tuesday in the British territory of Gibraltar. The ship, estimated to be worth tens of millions of dollars, was seized in March as part of Western sanctions against Russia following the invasion of Ukraine.
The Marshal of the Admiralty of Gibraltar was in charge of comparing and promoting the yacht, which won 63 bids, according to court documents. $42 million and $75 million. Details about who ultimately buys the boat and for what value will be made public once the transaction is completed.
With a length of 236 feet and a weight of more than 1600 tons, the Axiom is a sight to behold. It accommodates another 12 people in six cabins, as well as a team of 20 people in 12 more rooms, and has a gym, full-service spa, infinity pool, and luxury cinema, Howe Robinson Partners said at auction.
The cost of renting the Axiom for a week averages $500,000, plus other operating charges, according to Yacht Charter Fleet.
The former owner of the canal is Dmitrievich Pumpyansky, once Russia’s largest metal pipe manufacturer and recently valued at $2 billion, according to Forbes. Unfortunately for Pumpyansky, he was sanctioned by Britain and the European Union after the invasion.
Other superyachts owned by Russian oligarchs have been arrested as a result of the sanctions, the Axiom being the first to be sold, The Guardian reported.
Despite the profit requests from the sale to gain advantages Ukraine, the budget will be paid to JP Morgan Chase. According to The Guardian, the foreign bank had a loan agreement with Pumpyansky’s holding company, Pyrene Investments.
However, sanctions on Russia prevented JP Morgan Chase from accepting bills from the holding company, violating the agreement, and the bank filed a lawsuit for the shipment to be seized and sold at auction.
Other superyachts belonging to Russian elites have been detained around the world, adding the Amadea, which was seized in Fiji at the request of the United States in May. The $300 million yacht belonged to Suleiman Kerimov, a Russian gold maker valued at more than $12 billion according to Forbes.
Amadea’s fate, however, is uncertain; it can also be sold to the highest bidder, which would be in line with President Biden’s goals of holding Russian oligarchs accountable for their role in the invasion and potentially for profits to help Ukraine.
Election Day Tuesday for many Southern Tier and Catskills voters. Here are some of the results.
WSKG connects you with local and global news and arts, radio and television. Subsidiary NPR and PBS.
CONTACT USEmail: WSKGcomment@wskg. org
Phone: 607. 729. 0100
Address: 601 Gates Road Suite 4, Vestal, NY 13850-2288
DONATE
Pay a subscription bill
Full frequency indexed here
89. 3fm Binghamton91. 1fm Corning, Elmira88. 7fm Hornell90. 9fm Ithaca89. 9fm Odessa91. 7fm Oneonta90. 5fm Watkins Glen
91. 5 Binghamton105. 9 Cooperstown90. 7 Corning88. 1 Greene, Norwich92. 1 Ithaca
Binghamton46. 1 Broadcast TV7 Time Warner Cable1221 Time Warner Digital Cable
Elmira30. 1 Broadcast TV8 Time Warner Cable1221 Time Warner Digital Cable
Oneonta, Cooperstown8 Time Warner Cable1221 Time Warner Digital Cable
Cable digital Warner Hornell1221 Time