Seized Russian Yacht Up For Auction

Seized Russian Yacht Up For Auction


The first public auction of seized property belonging to Russian oligarchs has begun, as the war in Ukraine prompted these assets as fair game for the taking by local authorities. The ship’s previous owner has a stained reputation, as billionaire Dmitry Pumpyansky has now been sanctioned by the E.U & the U.K. for his business affiliation with the Russian oil & gas industry. A serious interest in the upscale yacht has taken place, as it received 63 bids.

According to court documents, JPMorgan provided a loan for the yacht as recently as December 2021, with Pumpyansky listed as the guarantor. However, a few days after the invasion, the billionaire switched his ownership of the holding company involved to a different individual, allowing JPMorgan to demand payment.

After JPMorgan Chase & Co. called in the 20.5 million-euro ($20.4 million) loan related to the 72-meter (236-foot) yacht Axioma, it was brought up for auction. Authorities on British soil seized it at the gateway to the Mediterranean Sea during the beginning of the Ukraine war in March. The amenities on the superyacht are almost endless. Retrofitted in 2020, The Axioma now boasts an infinity pool, a 3D theater, a sauna, a steam room, and a gym.

Those involved with the auction state that all bids relating to the auction, as well as the bidders will remain under seal.



Liam Fegan
Liam Fegan
Lockheed Martin Financial Analyst since June of 2018. If you want a better life, raise your standards and don't compromise them.
- Sponsor -spot_img
- Sponsor -spot_img

Week's Top Stories

More In This Category

Japanese Prime Minister Discloses Cabinet’s Efforts to Hold Summit with North Korea

What is Happening The Japanese Prime Minister (PM), Fumio Kishida,...

Senegal to Hold Elections “As Soon as Possible”

A Sharp Change After two weeks of protest, and a...

Ukraine Drone Attack Sinks Russian Landing Ship

What to Know: Ukraine's Main Directorate of Intelligence has released...

European Countries Ditching Green Measures After Weeks of Farmers Protesting

What Happened: For weeks, farmers have been out protesting EU...