The 300-foot Royal Romance superyacht confiscated from Putin ally Viktor Medvedchuk will be auctioned off to raise money in support of Ukraine.
Since thein February, sanctions against oligarchs close to Russian President Vladimir Putin have been used as a tool to put pressure on Russia. Assets affected thus far have included yachts, luxury planes and lavish residences throughout the world.
The Ukrainian Asset Recovery and Management Agency said that it would"preserve the economic value [of the yacht] by selling it at auction." The oligarch was first detained in April in a special operation carried out by Ukraine’s state security service, or the SBU. Though he was charged with treason last year, Medvedchuk escaped from house arrest within days of hostilities breaking out on Feb. 24 in Ukraine.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This $200 Million Russian Superyacht Could Be Auctioned Off to Aid UkraineThe 303-foot vessel, known as 'Royal Romance,' was delivered by Feadship in 2015.
Read more »
CPS’ financial woes worsening as customers’ past-due bills exceed $200 millionAbout 215,000 accounts — nearly a quarter of all CPS customers — are at least 30 days...
Read more »
The Bride Wore a $200 Vintage Lace Dress and No Makeup for Her Upstate Farm WeddingTrinity Mouzon Wofford isn’t exaggerating when she says her and now-husband Issey Kobori-Hotchkiss go “way back.” The two have known each since 1998, when both attended the same preschool in Saratoga Springs. Here, go inside their dream wedding:
Read more »
Pentagon to Spend $200 Billion on New Nuclear Bomber as Millions Live in PovertyEach new plane will cost the government $750 million that could go to housing, health care or education.
Read more »