In a recent court decision in New York, the government’s request to seize the Amadea yacht, valued at $325 million, was denied. The yacht is currently under arrest and has been seized in Fiji since April 2022 due to sanctions imposed after the conflict in Ukraine. The US claims that Suleiman Kerimov, a businessman under sanctions, is the owner of the yacht and wants to confiscate it to transfer the proceeds to Ukraine.
However, government lawyers had requested the sale of the ship as maintenance costs during the legal process were reported to be $740,000 a month. The judge refused this request by stating that excessive maintenance costs should not be taken into consideration when determining whether or not to sell the yacht. Instead, he emphasized that other factors such as market value and potential future profits should be considered when making this decision.
Despite documents indicating that former Rosneft head Eduard Khudainatov is actually the owner of the yacht, who is not under sanctions, US authorities believe he is a figurehead for Kerimov. Khudainatov denies any connection to the yacht while Kerimov continues to deny any involvement with it. This decision marks a victory for those seeking justice in cases involving seized assets during legal processes and highlights the importance of considering all factors when making decisions involving valuable property.
