Authorities in Fiji seized the 348-foot (106-meter), $300 million Amadea in May 2022, pursuant to a U.S. warrant alleging it was owned by Suleiman Kerimov, a multibillionaire sanctioned by the U.S. Treasury Department in 2014 and 2018 in response to Russia's activities in Syria and Ukraine. Efforts to auction the yacht are being challenged by Eduard Khudainatov, who led Russian state oil and gas company Rosneft from 2010 to 2013. Khudainatov claims ownership of the Amadea, and has said it cannot not be forfeited because he has not been sanctioned. If the U.S. government succeeded in auctioning the yacht, it would likely eventually transfer sale proceeds to Ukraine. He amassed his fortune through Russian gold miner Polyus, though he is no longer a shareholder.

Source: Forbes February 12, 2024 16:45 UTC