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Russian oligarch’s yacht to be put up for first auction after wartime seizure

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Russian billionaire Dmitrievich Pumpyansky’s yacht Axiom will go up for auction today as the first sale of such a vessel seized after sanctions over Russia’s invasion of Ukraine. The information is taken from the American newspaper The New York Times.

The ship was seized by British authorities in the Gibraltar maritime zone in March after US investment bank JP Morgan accused the Russian businessman of borrowing US$20m (R$103,403m) in loans.

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According to the newspaper, Pumpyansky was the owner and chairman of TMK PJSC, Russia’s largest steel pipe producer. Britain said Pumpyansky is one of the oligarchs closest to Russian President Vladimir Putin and has an estimated net worth of more than $2 billion.

The Russian billionaire was unable to use the money he received from Pumpyansky’s holding company, Pyrene Investments, to repay loans, as he was sanctioned by the US, UK and the European Union. JP Morgan bank won a court order in Gibraltar in July to have the yacht detained and put up for auction to pay off debts.

Map Russia invades Ukraine - 26.02.2022 - Arte UOL - Arte UOL

Image: UOL Art

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luxury yacht

According to a report from The New York Times, Axiom has five decks and is about 73 feet long. The yacht is equipped with six luxury rooms, infinity pool, 3D cinema, gym, jacuzzi and spa.

Nigel Hollyer, a broker at the Howe Robinson Partners auction house, did not disclose the appraisal value of the ship. The BBC reported that the yacht was worth US$75 million.

The broker told the newspaper that there has been an “impressive amount” of interest in the yacht in recent weeks, including 100 inquiries and 30 personal inspections. He said there were already two “serious” offers and most of them are expected today. According to Hollyer, potential buyers are from countries such as the United States, Canada, England, Italy and Turkey.

08/23/2022 09:57updated on 23.08.2022 10:09

source: Noticias

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