Russian Oligarchs' Superyachts: Floating in Limbo
By
Yevgeny Sokolov
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).
More than two years since Russia's invasion of Ukraine, the boating world is grappling with the fate of oligarchs' superyachts. The war led to sanctions against Russia's wealthiest, resulting in the freezing of their superyachts. These assets, worth over $1 billion combined, face uncertain futures. Attempts to sell these yachts are hindered by legal complexities, including ownership structures and the potential for legal disputes. Even if sanctions are lifted, the yachts' value could diminish due to lack of use. This has led the wealthy Russians to navigate limited options for operating their superyachts. Amidst these consequences, the boating industry remains uncertain about the fate of these extravagant vessels.