The vessel was seized in March under sanctions imposed on Moscow over the war in Ukraine
The boat sleeps 12 people in six cabins and boasts a swimming pool, a spa, 3D cinema and water sport equipment.
JP Morgan considered the inclusion of Pumpyansky on Britain’s sanctions list a breach of the loan contract since it led to the freezing of his assets. A Gibraltar government source said the money would probably be frozen rather than handed to anyone other than the oligarch. James Jaffa, a lawyer for British firm Jaffa & Co which specialises in yachts and who had represented the Axioma before it was seized, said the vessel was likely to sell for “way below” €20m.
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