The U.S. government is spending nearly $1 million a month to maintain a luxury yacht seized from a sanctioned Russian oligarch as part of a Justice Department effort to pressure the Kremlin.
Pressure on those close to Putin
The 348-foot-long Amadea was one of the first awards obtained by prosecutors as part of a task force effort to hold the Russians accountable near the Kremlin. US prosecutors allege that its owner, Suleiman Kerimov, who made his fortune in gold, violated US sanctions by using the US banking system to cover the ship's expenses.
Maintenance at sea
Now, federal prosecutors have asked a judge for permission to sell the ship, saying it is extravagant and costs the government about $20 million, according to recent court records.
Values are at stake
The total monthly costs are about $600,000 to maintain the yacht, plus $144,000 for insurance, according to court records. With incidental fees to cover dry docking expenses, this adds another $178,000 per month, making the total bill $922,000 per month.
Legal battle
Eduard Khudainatov and Millemarin Investments have come forward to claim the luxury yacht. They oppose the sale and said the judge should not allow it until their motion to dismiss the civil forfeiture complaint is decided.
Prosecutors said a decision on that proposal could take several more months, adding to the ship's maintenance bill.
Oliver Ashford is a contributor to Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment and lifestyle. He focuses on delivering clear, balanced reporting that helps readers stay informed about current affairs and developments that matter. With an emphasis on accuracy, relevance and accessibility, Oliver aims to present useful information and engaging stories in a straightforward manner, making complex topics easier for readers to understand and follow.