The first superyacht seized by Oligarch is up for auction

Since the Russian invasion of Ukraine, Axiom has been tied up in Gibraltar, but the luxury yacht is sold today. It is the first yacht by a Russian businessman to be auctioned off since Western sanctions against Russian President Vladimir Putin and his wealthy friends. But this first auction could also be the last.

The 73-meter, five-deck ship, which includes a swimming pool, a 3D cinema hall and a fully equipped spa, was owned by steel magnate Dmitry Alexandrovich Pompiansky. According to the BBC, she is worth £63 million (just under £75 million). There’s certainly no shortage of interested parties: 28 potential buyers have already come to take a look.

It is rare for a luxury yacht to be sold “by court order”. The ‘court order’ came at the request of US investment bank JPMorgan Chase & Co., which was submitted to the court because the owner Perrin Investments, a holding company in the British Virgin Islands, refused to repay the loan of about 20.5 million euros. I stopped. According to the Panama Papers, Poempyanski is the man behind this possession.

Donate to Ukrainian refugees?

JPMorgan Chase & Co. does not comment on the forced sale, and does not say whether it will donate the proceeds – or part of it – to Ukrainian refugees. The bank only said it had “raised its $5 million charitable pledge to $10 million to help deal with the worsening refugee crisis in Ukraine.”

Although dozens of luxury yachts have been seized from oligarchs around the world, only Axiom has been put up for sale. From a purely legal point of view, the luxury yacht was seized for non-payment. This is very different from the “asset freeze” that has happened to other luxury yachts. You can’t just sell it.

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Denton Watson

"Friend of animals everywhere. Evil twitter fan. Pop culture evangelist. Introvert."

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