Daily Weather Report Powered By:
A Russian yacht seized under sanctions leveled against Russian businessmen in light of Russia's invasion of Ukraine is to be auctioned off for the first time.
The Axioma was owned by steel pipe magnate Dmitry Pumpyansky, one of dozens of Russian businessmen sanctioned by the United States, United Kingdom, and European Union in recent months. It was seized in Gibraltar in March, after JP Morgan claimed that Pumpyansky had failed to repay a $20 million loan, according to the BBC.
The luxurious vessel has garnered a "staggering amount of interest," Nigel Hollyer, a broker at auction house Howe Robinson Partners, told Bloomberg. He said that there have been 115 inquiries and 28 inspections by potential buyers so far.
RUSSIAN-OWNED SUPERYACHT LEAVES FIJI UNDER US CONTROL
Built in 2013, the five-deck, 240-foot-long Axioma is appraised to be valued at $75 million, but because it is only listed for a single day, the BBC noted that it is expected to be sold for well below its appraisal value.
The yacht is loaded with a plethora of luxuries. A gym complete with an elliptical, stationary bike, treadmill, workout bench, dumbbells, kettle bells, weights, and more occupies the upper owner's deck, according to a layout posted on yachtcharterfleet.com. It also sports a cinema, Jacuzzi, spa and steam room, infinity pool, bathrooms, a saloon, lounge areas, and dining room, according to its description on the auction website. It can accommodate 12 guests in six cabins, in addition to the 20 crew that reside in 12 cabins. All five decks are connected by several staircases and an elevator.
The back of the boat features a garage with jet skis, a sizable motor boat, scuba diving equipment, and other boating equipment.
Despite calls for the funds to be given to Ukraine or used on Ukrainian refugees, money from the sale is expected to go to JP Morgan, the BBC reported.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Offers for the yacht must be received by Tuesday, according to the auction website.
Original Location: Russian yacht seized under sanctions to be auctioned