• By The Financial District

$700M Superyacht In Italy May Belong To Putin: U.S. Officials

A $700-million superyacht being repaired in an Italian dry dock may belong to Vladimir Putin, according to US intelligence officials, Graeme Massie reported for UK’s The Independent reported.

Photo Insert: The Scheherazade

The ownership of the 459-ft Scheherazade has come under close scrutiny since Russia’s unprovoked assault on Ukraine, and the vessel could be associated with Putin, intelligence officials told the New York Times.

US officials told the newspaper that no final conclusions on ownership have been made, but the link backs up a claim made by a former crew member that it was for Putin’s use. The superyacht can accommodate two helicopters and has toilets that glisten with gold.

The officials say that Putin keeps little of his personal wealth in his own name, instead using homes and boats that are held in the name of Russian oligarchs.

Putin spent long periods during the COVID-19 pandemic in the Black Sea city of Sochi, where the Scheherazade made trips in the summers of 2020 and 2021, the officials added.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

The Biden administration is investigating ownership of superyachts associated with Russian oligarchs as part of the enormous sanctions levied on Russia. The yacht is currently undergoing repairs in the Tuscan port of Marina di Carrara.

Guy Bennett-Pearce, the Scheherazade’s captain, has denied that Putin owns the yacht or has even set foot in it. If the US government wanted to seize the yacht out would need the help of the Italian government before it left for Russian waters.

Government & politics: Politicians, government officials and delegates standing in front of their country flags in a political event in the financial district.

Following US and European Union sanctions against Russia, officials impounded a 213ft yacht owned by Alexei Mordashov in Imperia, Italy, and Igor Sechin’s 280-foot yacht in the French port of La Ciotat. Under US and most European laws, the frozen assets remain owned by the oligarch but cannot be transferred or sold.

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