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HomeEconomySuperyacht linked to sanctioned Russian oligarch goes up for auction in Gibraltar

Superyacht linked to sanctioned Russian oligarch goes up for auction in Gibraltar

MADRID (Reuters) – A 75 million-dollar supercar tied to the sanctioned Russian steel billionaire was auctioned off in Gibraltar on Tuesday, court sources said. yacht. The first such sale since Russia invaded Ukraine in February. Axioma was cleared to enter Gibraltar waters and then seized by authorities in March after US bank JP Morgan said its alleged owner, Dmitry Pumpyansky, had violated the terms of $20. million loan. The Gibraltar Admiralty Court is auctioning the 72.5m vessel. It was listed for a day and closed bids were sent electronically by noon on Tuesday, a court spokesman said.

Nigel Hollyer, broker of Gibraltar Supreme Court Marshal Admiralty at the auction, told the Guardian last week that there had been an “unexpected late surge in potential buyers” around the world, exceeding

flew to Gibraltar to inspect the yacht

Given that the yacht was sold through the courts, potential buyers seemed to believe they could “bargain”, he said.

Six cabins sleeps 12 person boat with swimming pool, Jacuzzi, spa, 3D cinema, jet ski and water Lung diving equipment.

JPMorgan lent €500,000 to British Virgin Islands -listed Pyrene Investments Ltd, according to court documents seen by Reuters Owned by Furdberg Holding Ltd. The owner of Furdberg is Pumpyansky, who is the guarantor of the loan.

The newspaper said Pyrene Investments was sanctioned after the March 4 transfer of all of its shares in Furdberg to a third party by Pumpyansky violated the terms of the loan.

The 58-year-old, estimated by Forbes magazine to have a fortune of $2 billion, was soon sanctioned by the UK and EU for the invasion of Ukraine after.

“The occurrence of the Guarantor’s Sanctioned List constitutes an event of default under the Loan Agreement because it renders the Guarantor a prohibited person for unlawfully performing his obligations under the Financial Documents. any obligation,” the document reads.

The Axioma is the first luxury yacht seized to be auctioned since the West imposed sanctions on the powerful Russians following the invasion of Ukraine in February, in what Russia calls a special military operation.

JPMorgan did not immediately respond to Reuters’ request for comment.

Pumpyansky is the owner and chairman of steel pipe manufacturer OAO TMK, the Russian state-owned energy company Gazprom (MCX: GAZP). He has since quit the company, the company said.



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