Helipad, gym, salon — and now up for grabs: US to auction $325 million Russian superyacht

The Amadea, a 348-foot-long (106-metres) superyacht docked in San Diego, was seized three years ago. Built by German shipbuilder Lürssen in 2017 and designed by François Zuretti, the vessel boasts interiors with extensive marble, eight state rooms, a beauty salon, spa, gym, helipad, swimming pool, and an elevator. It accommodates 16 guests and 36 crew members.

Who owns Amadea?

Determining the true ownership of the Amadea has been highly contested due to an opaque trail of shell companies and trusts, the Associated Press (AP) said in a report. The yacht is registered in the Cayman Islands and is owned by Millemarin Investments Ltd., also based there.

The US maintains that Suleiman Kerimov, an economist and former Russian politician who was sanctioned by the US in 2018 for alleged money laundering, is the actual owner. However, Eduard Khudainatov, the former chairman and chief executive of Russian state-controlled oil and gas giant Rosneft, who has not been sanctioned, claims he owns the yacht.

US prosecutors argue that Khudainatov is a straw owner, used to hide Kerimov’s ownership of the vessel. Litigation regarding the true ownership is ongoing. A straw owner is a person or entity who pretends to be the legal owner of an asset on behalf of someone else, in order to conceal the true ownership.

A representative for Khudainatov said in an emailed statement to the AP on Wednesday that the planned sale of the yacht is “improper and premature” since Khudainatov is appealing a forfeiture ruling.

“We doubt it will attract any rational buyer at fair market price, because ownership can, and will, be challenged in courts outside the United States, exposing purchasers to years of costly, uncertain litigation,” the AP quoted the representative, Adam Ford, as saying.

The Amadea has remained virtually untouched since National Maritime Services took custody of it in 2022. Interested bidders must submit sealed offers with a 10 million euro deposit — roughly $11.6 million — to be considered.

Ford stated that Khudainatov will pursue any proceeds from the sale and hold the US government accountable for any undervaluation.

“Should the government press ahead simply to staunch the mounting costs it is imposing on the American taxpayer, we will pursue the sale proceeds, and any shortfall from fair market value, once we prevail in court,” Ford said.

How US planned to support Ukraine war

In May 2024, a US aid package for Ukraine was signed into law, granting the US the authority to seize Russian state assets located within its borders and redirect them to benefit Kyiv. Russia invaded Ukraine in February 2022, and the war continues despite mounting international pressure.