A mega-yacht seized by U.S. authorities from a Russian oligarch is costing the government nearly $1 million a month to maintain, according to new court filings.
The U.S. Department of Justice is seeking permission to sell a 348-foot yacht called Amadea, which it seized in 2022, alleging that it was owned by sanctioned Russian billionaire Suleiman Kerimov.
The government said it wants to sell the $230 million yacht due to the "excessive costs" of maintenance and crew, which it said could total $922,000 a month.
European Commission President Ursula von der Leyen said last week that the European Union should use profits from more than $200 billion of frozen Russian assets to fund Ukraine's war effort.
Yet, nearly two years later, the legal process for proving ownership of the Russian assets and selling them has proven to be far more time-consuming and costly.
Persons:
Suleiman Kerimov, Ursula von der Leyen, Vladimir Putin, Eugene Shvidler, Sergei Naumenko, Phi
Organizations:
U.S, U.S . Department of Justice, Amadea, European Union
Locations:
San Diego , California, Amadea, Ukraine, European, London, Russian