The war in Ukraine may be raging on, but that hasn’t stopped Russia’s infamous leader from keeping his $1 billion yacht in ship shape…
While the prized possession of his close friєɴԀ and colleague, Andrey Guryev’sAlfa Nerosuperyacht, єɴԀured a seemingly never-єɴԀing saga —abandoned in Antiguaat the beginning of the Russia-Ukraine conflict beforegathering extremely expensive dustfor several months and ultimately enjoying a $98 million AUD sale to a tech CEO— Vladimir Putin’s own superyacht seems to be fairing rather better, having just enjoyed a multi-million-dollar refit while impounded off the Italian coast.
It’s fifteen months since Italy impounded theScheherazade, a $1 billion (~$700 million USD) superyacht allegedly linked to Russian President Vladimir Putin. Despite being confined to the Tuscan port of Marina di Carrara, Italy has permitted the yacht’s owner — whose identity remains technically undisclosed — to not only cover staff and maintenance expenses but also embark on an opulent refit, as ɾєρօɾτed by theAFR.
With its golden-plated bathrooms, 22 guest cabins, two helicopter decks, and luxury spa, the 140-meterScheherazadeis receiving its lavish makeover courtesy of the Milan-listed Sea Group despite the yacht and any other assets therein being frozen by authorities. The government Agenzia del Demanio, responsible for managing seized assets, acknowledged that they had agreed, along with the finance ministry, to allow the owner to pay for “maintenance works.” However, further details were withheld…
The owner of theScheherazadehas remained a subject of speculation. Informants in Rome and Brussels suggest that the owner might be Eduard Khudainatov, the former CEO of Russian state oil company Rosneft. Italy has never officially identified the owner but it was ɾєⱱєɑłєԀ that there was:
“Evidence of meaningful economic and business connections with prominent elements of the Russian government subject to EU sanctions.”
However, Bloomberg ɾєρօɾτed last year how US officials alleged that Mr. Khudainatov was the “straw owner” of two yachts, acting on behalf of Mr. Putin. Adding more intrigue to the mix, researchers allied with famous opposition activist Alexei Navalny claim that theScheherazade’strue owner is none other than Russian President Vladimir Putin himself. Their suspicions were aroused when several crew members onboard the yacht were associated with the Federal Protection Service, responsible for Mr. Putin’s security.
The European Union has imposed sanctions on almost 1900 Russians and their associated entities since Russia’s first invasion of Ukraine in 2014, freezing all assets as well as attempting to restrict their travel within the bloc. These assets remain frozen and will be released if the sanctions are lifted. Among the list of Russian assets seized in Italy, theScheherazadestands out as the only item whose owner remains a supposed mystery, described in official documents as follows:
“SuperyachtScheherazadesailing under the Cayman Islands flag with a value of around €650 million.”
While we normally revel in the world of luxury that superyachts provide here at DMARGE, this particular refit left us with rather a bitter aftertaste: as a Ƅɾυτɑł war rages on andUkrainian women rally to show their strength, it speaks to the total selfishness of a leader who feels it fit to remodel his already lavish yacht while thousands lay down their lives at his command. Here’s to peace, love, and a long-overdue sale of this vessel.
