US to Auction $500M Russian Superyacht Amid Ownership Dispute
WASHINGTON, D.C. — The United States is set to auction off a $500 million luxury yacht — Amadea — marking the first sale of a seized Russian-owned superyacht since the start of Russia’s 2022 invasion of Ukraine.
The 106-meter-long Amadea, seized three years ago and currently docked in San Diego, California, is going under the hammer in an auction set to close on September 10. The yacht, valued at $US325 million (AU$500 million), has become a high-profile symbol of U.S. efforts to pressure Russian oligarchs tied to President Vladimir Putin.
A Symbol of Sanctions and International Pressure
Custom-built by the German shipyard Lürssen in 2017 and designed by François Zuretti, the Amadea is a floating palace. Its lavish features include:
- Eight state rooms
- A helipad
- A swimming pool
- A beauty salon and spa
- A gym
- Extensive marble finishes
- Accommodation for 16 guests and 36 crew members
The yacht has remained virtually untouched since 2022, when the U.S. National Maritime Services took custody of it. A $US11.6 million deposit is required to submit a sealed bid.
Ownership in Dispute
Despite the upcoming sale, the yacht’s true ownership remains under legal challenge.
The US government asserts that Amadea belongs to sanctioned Russian oligarch Suleiman Kerimov, an economist and former politician who was sanctioned in 2018 over alleged money laundering.
However, Eduard Khudainatov, former CEO of Rosneft, Russia’s state-run oil giant, claims to be the rightful owner. Notably, Khudainatov is not under any US sanctions.
US prosecutors allege that Khudainatov is merely a front, or “straw owner,” for Kerimov, part of an effort to mask the yacht’s true ownership using shell companies and offshore trusts. The Amadea is registered to Millemarin Investments Ltd., based in the Cayman Islands.
Litigation over the vessel’s ownership is ongoing, with Khudainatov currently appealing a U.S. forfeiture ruling.
Legal and Financial Ramifications
A representative for Khudainatov, Adam Ford, criticized the sale as “improper and premature,” warning that legal challenges could deter potential buyers.
“We doubt it will attract any rational buyer at fair market price,” Ford said in a statement. “Ownership can, and will, be challenged in courts outside the United States, exposing purchasers to years of costly, uncertain litigation.”
Ford also claimed Khudainatov would seek proceeds from the sale, and potentially sue for any shortfall from the fair market value.
“Should the government press ahead simply to staunch the mounting costs it is imposing on the American taxpayer, we will pursue the sale proceeds,” Ford added.
Policy Shift: Seized Russian Assets for Ukraine
The auction follows recent legislative changes in the U.S. that now allow the government to seize Russian state assets and redirect the proceeds to aid Ukraine.
An aid package signed into law in May 2024 empowers U.S. authorities to transfer assets obtained from sanctioned Russian individuals and entities to support Kyiv, which has been under attack since Russia’s full-scale invasion began in February 2022.
While most yachts seized from Russian oligarchs are tied up in international litigation, the Amadea auction is a test case for how successful the West’s economic crackdown on Putin’s inner circle can be.
If the sale goes through, it will be the first public liquidation of a Russian luxury asset by the U.S. since the war began.
