US has spent about $20 million to maintain superyacht seized from a Russian oligarch

Mar 6, 2024, 8:12 PM


(CNN)The US government is spending nearly $1 million a month to maintain a luxury superyacht seized from a sanctioned Russian oligarch as part of the Justice Department’s effort to put pressure on the Kremlin.

The 348-foot Amadea was one of the first trophies prosecutors claimed as part of a task force effort to hold Russians friendly to the Kremlin accountable.

The superyacht was seized while docked in a port in Fiji in 2022 by local law enforcement officials and the FBI. US prosecutors allege its owner, Suleiman Kerimov, who made his fortune in gold, violated US sanctions by using the US banking system to cover expenses for the vessel. The yacht has been docked in San Diego.

Russian oligarch’s luxury yacht seized in Spain at US’ request

Now, federal prosecutors have asked a judge for permission to sell the vessel saying its expenses are excessive and has cost the government about $20 million, according to recent court filings.

A recent appraisal values it at $230 million, according to the US Marshals Service.

“It is ‘excessive’ for taxpayers to pay nearly a million dollars per month to maintain the Amadea when these expenses, could be reduced to zero through interlocutory sale,” prosecutors wrote in a filing earlier this month.

The monthly costs total roughly $600,000 to maintain the yacht, plus $144,000 in insurance, according to court records. With occasional one-off fees to cover dry docking expenses it adds another $178,000 a month, placing the overall bill at $922,000 a month, the records said.

Eduard Khudainatov and Millemarin Investments came forward to claim the superyacht. They oppose the sale and said the judge shouldn’t allow it until their motion to dismiss the civil forfeiture complaint is decided.

They told the judge that they’ve “offered to reimburse the government for the costs it has incurred for maintaining the Amadea in exchange for its return. That offer stands. Maintaining the Amadea is certainly expensive, and Claimants never intended for U.S. taxpayers to shoulder that burden. But the wrongful decision to seize it was made by the government, knowing what the costs to American taxpayers would entail.”

Prosecutors said a decision on that motion could take many more months, racking up the bill to maintain the vessel.

The-CNN-Wire™ & © 2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.

KSL 5 TV Live

National News

Manuel Rocha sitting at a desk smiling...

Denise Royal, Carlos Suarez and Ray Sanchez, CNN

Former US diplomat sentenced to 15 years in prison after pleading guilty to spying for Cuba

Manuel Rocha, the former US ambassador to Bolivia who acted as a secret foreign agent of Cuba, was sentenced to 15 years in prison after pleading guilty to federal charges Friday

7 hours ago

The Google sign is shown over an entrance to the company's new building in New York on Wednesday, S...

Adam Beam and Tran Nguyen, Associated Press

In threat to legislature, Google removes news sites from searches

In an acting threat against the California legislature, Google began removing California news websites from searches on Friday.

7 hours ago

FILE - Border Patrol station in Harlingen, Texas. (David Pike/Valley Morning Star via AP, File)Cred...

Associated Press

Amid increased enforcement in Mexico, US Border arrests fall

Arrests for illegally crossing the US border fell by 2.3% from February to March.

7 hours ago

WASHINGTON, DC - FEBRUARY 28: Hunter Biden, son of U.S. President Joe Biden, listens as his attorne...

Alanna Durkin Richer and Lindsay Whitehurst, Associated Press

Judge rules Hunter Biden gun case will move forward, rejects political motivation

A Delaware federal judge refused to dismiss a case against Hunter Biden, rejecting claims about its political motivation.

7 hours ago


Carolyn Thompson and Jim Mustian, AP

DEA Agent convicted for obstruction, walks away from Buffalo bribe charges

A federal jury convicted a former DEA agent of obstruction, but could not reach a verdict on bribery charges.

7 hours ago

PALM BEACH, FLORIDA - APRIL 12: Republican presidential candidate former President Donald Trump and...

Lisa Mascaro and Jill Colvin, Associated Press

Trump gives support to embattled Speaker Mike Johnson at pivotal Mar-a-Lago meet

Donald Trump has given his support to embattled House Speaker Mike Johnson during a visit to the Mar-a-Lago club in Florida.

10 hours ago

Sponsored Articles

Women hold card for scanning key card to access Photocopier Security system concept...

Les Olson

Why Printer Security Should Be Top of Mind for Your Business

Connected printers have vulnerable endpoints that are an easy target for cyber thieves. Protect your business with these tips.

Modern chandelier hanging from a white slanted ceiling with windows in the backgruond...

Lighting Design

Light Up Your Home With These Top Lighting Trends for 2024

Check out the latest lighting design trends for 2024 and tips on how you can incorporate them into your home.

Technician woman fixing hardware of desktop computer. Close up....

PC Laptops

Tips for Hassle-Free Computer Repairs

Experiencing a glitch in your computer can be frustrating, but with these tips you can have your computer repaired without the stress.

Close up of finger on keyboard button with number 11 logo...

PC Laptops

7 Reasons Why You Should Upgrade Your Laptop to Windows 11

Explore the benefits of upgrading to Windows 11 for a smoother, more secure, and feature-packed computing experience.

Stylish room interior with beautiful Christmas tree and decorative fireplace...

Lighting Design

Create a Festive Home with Our Easy-to-Follow Holiday Prep Guide

Get ready for festive celebrations! Discover expert tips to prepare your home for the holidays, creating a warm and welcoming atmosphere for unforgettable moments.

Battery low message on mobile device screen. Internet and technology concept...

PC Laptops

9 Tips to Get More Power Out of Your Laptop Battery

Get more power out of your laptop battery and help it last longer by implementing some of these tips from our guide.

US has spent about $20 million to maintain superyacht seized from a Russian oligarch