Seized yachts of Russian oligarchs are costing Italy millions of dollars
Luxurious yachts belonging to Russian oligarchs have been under arrest in Italian ports for four years due to sanctions. The costs for their crew, security, and maintenance are being covered at the expense of Italian taxpayers. According to the country's laws, such vessels must be kept in working condition.
Seized Yachts of Russian Oligarchs Are Costing Italy Millions of Dollars
Maintaining the luxury yachts of Russian billionaires seized due to sanctions is costing the Italian budget millions of dollars. Some vessels have been sitting in ports for four years, while their crew, security, and maintenance expenses are being covered at the expense of Italian taxpayers, CNN writes.
Sailing Yacht A, worth $600 million and owned by Russian billionaire Andrey Melnichenko, has been under seizure at the port of Trieste since March 2022. The vessel was undergoing repairs at this very location when sanctions were imposed following Russia's invasion of Ukraine.
Trieste Mayor Roberto Dipiazza told CNN that maintaining the 143-meter-long yacht costs nearly $30,000 a day, and almost $11 million a year. These funds are spent on the salaries of a 20-person crew, fuel, cleaning, security, and insurance.
Under Italian law, seized vessels must be maintained in working condition. If sanctions against Melnichenko are lifted, he will have to pay the maintenance costs to retrieve his yacht.
"It will be cheaper for him to buy a new yacht than to reimburse all our expenses. And what about us, what are we left with? We might have to spend money on this giant yacht for years to come," Dipiazza said.
Melnichenko appealed against the seizure of the yacht in court in 2022. He stated that the vessel belonged not to him directly, but to the company Valla Sails through a trust established by his wife. However, in 2025, the European Union court confirmed that Italy had the right to keep the yacht under seizure.
Another vessel costing the Italian budget dearly is the yacht Scheherazade, located in the port of Marina di Carrara in the Tuscany region. The $700 million vessel is reportedly owned by the former head of the Rosneft company, Eduard Khudainatov. However, Russian opposition figure Alexei Navalny claimed that it actually belonged to Vladimir Putin.
The yacht has two helipads and a swimming pool that converts into a dance floor. According to local media, more than $15 million has been spent on its crew since the yacht was seized. The crew includes citizens of Russia and the United Kingdom.
On August 28 of this year, the yacht left the port under the supervision of Italian security forces and returned ten hours later. The responsible company stated that this voyage was carried out for technical inspection, but did not disclose who covered the costs.
Italy has also spent nearly $2 million to maintain Russian billionaire Alexey Mordashov's yacht Lady M. The vessel remains under seizure at the port of Imperia. Additionally, the yacht Lena, belonging to one of Putin's allies, Gennady Timchenko, is also being maintained in Italy.
Seized vessels employ a permanent crew. Keeping them in working order, providing security, and preventing mold from forming in their interiors also require additional costs.
The problem of maintaining Russian oligarchs' yachts also exists in other European countries.
Germany is maintaining the $800 million Dilbar, previously belonging to Alisher Usmanov's sister; France holds the Amore Vero, linked to Igor Sechin; and Spain holds the Tango, belonging to Viktor Vekselberg.
Some countries have managed to sell the seized vessels. For example, Gibraltar sold Russian billionaire Dmitry Pumpyansky's yacht Axioma for $37.5 million. The US has also sold several vessels, including the yacht Amadea belonging to Suleiman Kerimov.
In Montenegro, Andrey Guryev's yacht Luminosity has been left unattended. The government attempted to sell it for 135 million euros in 2024, but the sale was halted. The vessel still lies rusting and unusable at the port of Tivat.
Italian Prime Minister Giorgia Meloni favors maintaining sanctions against Russian oligarchs. She has said that easing restrictions for an agreement with Moscow would be an "extremely dangerous decision."
However, some local leaders, such as Trieste Mayor Roberto Dipiazza, believe that the maintenance costs of seized yachts belonging to Russian oligarchs should not fall on the shoulders of Italian taxpayers.