The US has put the $325 million yacht Amadea up for auction. It’s noteworthy as the first Russian luxury vessel sold since the beginning of the conflict in Ukraine.
This auction, which will end on September 10th, is occurring while President Donald Trump aims to intensify pressure on Russian President Vladimir Putin, hoping to prompt him to end the war. The US claims it’s collaborating with allies to exert financial pressure on Russian oligarchs, some of whom have approached Putin, seeking to influence him regarding the ongoing conflict.
The 348-foot yacht, seized three years ago and currently docked in San Diego, was custom-built in 2017 by German shipbuilder Lürssen. Designed by François Zuretti, the yacht boasts opulent marble interiors, eight state rooms, a beauty salon, a spa, and a helipad, accommodating 16 guests and 36 crew members.
Pinpointing the actual ownership of Amadea is complicated due to the trust structure and the unclear trajectory of the associated shell company. It’s registered in the Cayman Islands under Millemalin Investment Co., Ltd.
The US claims that economist and former politician Suleiman Kerimov is behind the yacht, which the US flagged in 2018 for suspected money laundering activities. On the other hand, Eduard Kudynatov—former chairman and CEO of Rosneft, the state-run Russian oil and gas giant—also asserts ownership, though his claim lacks formal authorization.
US prosecutors assert that Kudynatov serves as a front for Kerimov, aiming to obscure the actual ownership of the yacht. There is currently an ongoing lawsuit concerning the true ownership status of the vessel.
A spokesperson for Kudynatov communicated on Wednesday that the planned auction is “inappropriate and premature,” especially given that he is contesting a forfeiture decision.
Kudynatov’s representative mentioned, “I think potential buyers might find it challenging to invest at fair market values due to possible ownership disputes that could lead to costly legal issues.”
Since National Maritime Services took charge of the yacht in 2022, it has essentially remained untouched. Bidders must submit a sealed bid including a deposit of €10 million.
Ford also remarked that Kudynatov’s wealth is tied to the yacht’s estimated value of $325 million, which reflects the expected sale proceeds.
Furthermore, he warned that if the government decides to proceed with the sale, it might lead to increased financial burdens on American taxpayers because winning legal battles could diminish sales revenue and fair market value.
The aid package for Ukraine, passed in May 2024, allows for the seizure of Russian national assets in the US, granting the government the ability to repurpose these assets for the benefit of Kyiv amid the ongoing conflict initiated by Russia in February 2022.
