Putin-Allied Oligarch’s $860 Million Superyacht, The Largest Sailboat In The World, Abandoned After It Was Seized As Part Of Ukraine War Sanctions

A Russian oligarch, who spent four years and $860 million building a superyacht, has abandoned the vessel for the last two years after it was seized by Italian police in March 2022.

Italy took the step to comply with European Union sanctions against Russian oligarchs who have supported their country’s war with Ukraine.

The vessel, constructed by German Naval Yards, is gargantuan in size and has three masts that tower 300 feet high and a length stretching to 468 feet long. These dimensions make this boat the largest current sailboat in the world.

Its height surpasses that of Big Ben by approximately ten feet. The boat is considered to be a medium-sized cargo ship and can reach speeds up to 20.8 knots or 24 miles per hour.

Since its seizure in 2022, the yacht has been sitting in the custody of the Italian government, waiting dormant off of the coast in the Trieste Gulf. The Italian government claimed that they have spent over $11.5 million on the upkeep of the ship.

The yacht is owned by Russian business tycoon Andrey Melnichenko, who is one of Russian President Vladimir Putin‘s top allies.

Melnichenko made his fortune off of a fertilizer company and a coal company, which have made him one of the richest men in the world.

Melnichenko is among 36 wealthy Russian businessmen sanctioned by the E.U., whose assets may be subject to seizure.

This yacht seizure is just a small part of many repossessions of Russian goods by the Italian government since 2022 – it is estimated that a total of $230 million in Russian property has been appropriated.

In October 2023, the United States government seized a 348-foot yacht originally owned by sanctioned Russian oligarch Suleiman Kerimov.

Russian President Vladimir Putin recently said that the war in Ukraine was “a tragedy.”