The naval jurisdiction of the British territory announced this Tuesday (27), the yacht of Russian businessman Dmitry Pumpyansky, which was the target of British sanctions after Russia’s attack on Ukraine, was sold for 37.5 million US dollars in Gibraltar, where it is held. back in March.
This authority, known as the British Admiralty department, said in a statement that it would not reveal the name of the recipient.
The money from the sale will allow authorities in Gibraltar, a small region in southern Spain, to reimburse the oligarch’s creditors.
Gibraltar received a total of 63 bids at the auction for the 72-metre luxury yacht and the Maltese flag “Axiom”.
The boat was seized upon the complaint of the American bank JP Morgan.
In December, this bank provided a €20.5 million ($20 million) loan to a company registered in the British Virgin Islands. As a shareholder, there was a company from Cyprus owned by Dmitry Pumpyansky.
The bank considered that the oligarch’s inclusion in the list of Russian persons subject to British sanctions, among other things, constituted a breach of the loan agreement.
The sanctions lead to the freezing of the assets of the affected entrepreneurs, putting the repayment of loans at risk.
Therefore, JP Morgan applied to the Gibraltar authorities for the seizure of the yacht. The ship was registered as one of the collateral for the loan.
Owner of pipeline giant TMK, Pumpyansky it has also been subject to European Union (EU) sanctions since the beginning of the Russian invasion of Ukraine.
Many countries such as Spain, Italy and France have confiscated the yachts of the richest Russians as part of these European sanctions that have frozen all their assets in the EU.
source: Noticias
