Reuters News Service is reporting the US government is spending more than $7,000,000 a year to maintain a Russian super yacht, the Amadea, that was seized by authorities in May 2022 when it made port in Fiji in 2022. The yacht was subsequently moved and is now and has been docked in San Diego ever since.
The super yacht was seized pursuant to a US warrant alleging it was owned by Suleiman Kerimov, a Russian multi-billionaire sanctioned by the US Treasury Department in response to Russian activities in Syria and Ukraine.
The big problem is that ownership of the yacht is under debate. Eduard Knudainatov, another very rich Russian, claims ownership. He is not under sanction by the US and, therefore, the US is claimed to have seized the yacht illegally. The issue is in US federal court.
The federal prosecutors told the court that the average monthly maintenance bill for the yacht sitting in dock has been $600,000 per month. Reportedly, this has been for both the yacht and crew expenses. Prosecutors claim the maintenance payments have been essential to preserving the Amadea’s value.
The feds want to auction the yacht and have asked the court to permit that. If the court determines Kerimov owns the yacht, that may be possible. If Knudainatov owns it, then auctioning becomes not possible.
If sold, it is said proceeds would be sent to Ukraine!
This whole story shows again the incredible stupidity of the Biden administration. US taxpayers have been paying $7,000,000 a year to maintain a yacht since 2022 docked in San Diego. There is no talk of reimbursing the US taxpayers even if the yacht is auctioned off…. And that is even in question.
If the court determines the ownership is really by Eduard Knudainatov, there is nothing but total loss to the US taxpayer. The yacht is released to return to Russia.
Yet another Biden boondoggle.