A £63million Russian superyacht seized earlier this year will now be auctioned.
The Axioma was seized in Gibraltar in March after US bank JP Morgan claimed sanctioned oligarch owner Dmitrievich Pumpyansky, 58, failed to repay a £17million loan.
The 224-foot vessel will be auctioned on the island at Gibraltar’s Admiralty Court on Tuesday.
It is expected to go under the hammer for less than its estimated value as it has only been listed for one day.
The huge yacht accommodates 12 people in six cabins and accommodates 22 crew members.
Axioma is estimated to be worth £63million but is expected to sell for less than that price at Tuesday’s auction. Some governments, including the UK, have claimed the proceeds from confiscated assets to help Ukrainian refugees – but the money from the Axioma sale is believed to go to JP Morgan
On board includes a 3D cinema, two swimming pools, a swim-in cocktail bar, jacuzzi, spa, jet skis and diving equipment.
It will be the first confiscated superyacht to be sold since restrictions were placed on Russian oligarchs in February after Putin’s invasion of Ukraine.
Some governments, including the UK, have claimed the proceeds from confiscated assets to help Ukrainian refugees – but the money from the Axioma sale is believed to go to JP Morgan.
While the boat is owned by Putin’s cronies Pumpyansky, it was originally named Red Square when it was built in 2013.
One of the bedrooms on the super yacht. The boat accommodates up to 12 guests and accommodates 22 crew members. The ship was previously available for charter under its former name, Red Square. It would cost millionaires up to £465,000 a week, not including additional expenses such as fuel or tips for staff
The yacht is equipped with two swimming pools, a swim-up cocktail bar, a 3D cinema, a jacuzzi, a spa, jet skis and diving equipment
Fuel costs for the ship alone are around £15,000 a week and the crew can earn up to £10,000 a week in tips. Famous faces who have previously rented the boat include supermodel Kendall Jenner and Formula 1 driver Lewis Hamilton.
Red Square was available to millionaires to rent for up to £465,000 per week at no extra cost.
Fuel costs for the ship alone are around £15,000 a week and the crew can earn up to £10,000 a week in tips.
Famous faces linked to the now impounded superyacht include Kendall Jenner, a supermodel and half-sister of reality TV star Kim Kardashian, and Formula 1 driver Lewis Hamilton.
Kendall Jenner and Lewis Hamilton were spotted aboard the superyacht in Monaco in 2015. The Hadid sisters and Hailey Bieber were also on board the luxury ship that day
Both had previously chartered the ship.
Jenner was caught jumping from the top deck of the massive ship into the ocean below, which was captured by paparazzi.
The photo was then shared on Jenner’s own social media, earning her millions of likes and bringing international fame to the ship.
The superyacht in Gibraltar port in March after it was seized after JP Morgan said the owner had failed to repay a £17million loan. It was later revealed that the ship belonged to Putin’s pal Pumpyansky, who made his £2 billion fortune through his steel pipe maker OAO TMK, a supplier to Russian energy company Gazprom
Pumpyansky made his fortune of nearly £2 billion from oil and gas pipelines. He is the owner and CEO of the steel pipe manufacturer OAO TMK, a supplier to the Russian energy company Gazpro. Since Russia invaded Ukraine, the oligarch has been sanctioned by Britain, the EU and the US
Pumpyansky made his fortune of nearly £2 billion from oil and gas pipelines.
He is the owner and CEO of the steel tube manufacturer OAO TMK, a supplier to the Russian energy company Gazprom.
It was only revealed that Pumpyanksy had ties to the British Virgin Islands company that owned the ship after a huge leak of confidential papers from a Panama-based bank was revealed.
Pumpyansky has been banned from Britain, the EU and the US since Russia invaded Ukraine earlier this year.