Ukraine, Superyacht auction of the sanctioned Russian oligarch

Ukraine, Superyacht auction of the sanctioned Russian oligarch

The sanctions-hit £65million yacht owned by Russian oligarch Dmitry Pumpyansky will be auctioned in Gibraltar on Tuesday, the Guardian has said. The 72.5 meter Axioma (formerly Red Square) is the first yacht sold by a sanctioned Russian. Proceeds won’t go to Ukraine, however, but to JP Morgan, which is claiming a $20 million (£17 million) loan from Pumpyansky, owner and president of Oao Tmk, Gazprom’s supplier of steel tubes for gas pipelines.

The ship, which has six luxurious guest cabins, a swimming pool, cinema, gym and spa, was hijacked after docking in Gibraltar last March. Pumpyansky, who is considered very close to Putin, has a fortune of £1.84 billion.