Fiji halts stay on US seizure of Russian Oligarch's superyacht 'Amadea'

A Fijian court has temporarily halted the execution of a US warrant to confiscate a $300 million superyacht owned by Suleiman Kerimov, a sanctioned Russian businessman. The US Justice Department has requested that the yacht, which is worth $300 million, be seized for allegedly breaking sanctions and having ties to corruption.

The $325 million yacht 'Amadea' was previously barred from leaving the South Pacific island due to its ties to Russia. On May 4, a judge in Fiji ordered that US officials can seize a Russian-owned superyacht, but his judgement has been put on hold until at least Friday while defence lawyers file an appeal. After the United States filed a warrant, Suva High Court Justice Deepthi Amaratunga approved an order allowing the superyacht to be seized. However, the judge had given the defence counsel time to prepare for their hearing.

In March, the US Justice Department announced the formation of a team of federal investigators and prosecutors tasked with pursuing affluent Russians and others who enable Russia's invasion of Ukraine. Task Force KleptoCapture was formed to capture assets belonging to oligarchs in order to put pressure on Russia to cease the conflict.

Suleiman Kerimov is the true owner of superyacht Amadea: US

Suleiman Kerimov, according to the US, is the true owner of the superyacht Amadea. The US sanctioned the economist and former Russian politician in 2018 for alleged money laundering, and Canada, Europe, the United Kingdom, and other countries followed suit when Russia invaded Ukraine. Kerimov amassed a fortune through investing in Russian gold manufacturer Polyus, according to Forbes magazine. His net worth is estimated to be $14.5 billion.

After the yacht arrived in Fiji from Mexico on April 19, the High Court in Suva ordered that the Amadea not leave the country until the merits of the US warrant to seize the vessel were determined. Perhaps in response to the ownership issue, the court later ordered Fijian prosecutors to amend an original summons that only named Kerimov to include Millemarin Investments Ltd. as a second respondent to the case.

For the time being, the yacht remains in a Fijian harbour, with its crew of about 25 rotating on and off the vessel, and a police officer on board to ensure it stays put. The Amadea is 106 metres long and was built in 2017, according to Boat International. It has a 5-ton stainless steel albatross extending from the bow, a live lobster tank in the galley, a 10-meter (33-foot) pool, a hand-painted Pleyel piano, and a big helipad.

(With agency inputs)

Image: AP