Russian Oligarch's Seized Yacht Costs More Than $7 Million A Year To Maintain: US
The US is spending over $7 million annually on upkeep for a seized Russian billionaire's luxury yacht, pushing for auction.
This superyacht, owned by Suleiman Kerimov—who faces US sanctions—was taken by Fijian authorities under a US warrant.
Eduard Khudainatov, ex-head of Russian oil giant Rosneft, contests the auction, asserting he owns the yacht and is unsanctioned. The US argues the maintenance costs are too high and negotiation failures with Khudainatov warrant auctioning the yacht.
Prosecutors allege Khudainatov is a front for Kerimov, with maintenance key to the yacht's value. A judge's ruling on the ownership dispute, with potential proceeds aiding Ukraine, is pending.
Kerimov reportedly used US financial systems for the yacht's expenses, leading to possible forfeiture. He has a net worth of approximately $10.7 billion, once tied to Russian miner Polyus.