The UK has held back the Superyacht 38 million pounds ($ 49.67 million) owned by a Russian businessman who docked in the Wharf Canary Financial District in London, said the government on Tuesday.
The 58.5 meter yacht was built by the Netherlands, named Phi, held under Russian sanctions of the government, the first time the rules have been used to hold the ship.
The government said Phi was owned by a Russian businessman but ownership was “deliberately hidden well”, with registered ship companies to be based in the St Kitts and Nevis archipelago, and the ship carrying Malta flags.
“Today we have resisted Superyacht 38 million pounds and changed the icon of Russian power and wealth into a clear and striking warning for Putin and its cronies,” said Secretary of Transportation Secretary in a statement.
“Hold Phi proves, again, that we can and will take possible strongest actions against those who try to benefit from Russian connections.”
Phi was first identified as a potentially Russian owned on March 13, the government said, and the next investigation caused his detention. The government said it also saw a number of other ships.
The government said the ship was in Wharf Canary for the Superyacht award and planned to depart on Tuesday.
