Ukraine will sell Medvedchuk's luxury yacht: The Cabinet of Ministers made a decision

The arrested 92-meter yacht of former MP and godfather of Russian President Viktor Medvedchuk, accused of treason, Royal Romance, will be sold, and Ukraine will receive the money from the deal. The vessel is physically located in Croatia, and its sale is to take place through Prozorro. Sale online auctions.

The sale of the yacht was authorized by the Cabinet of Ministers of Ukraine at a meeting on February 16. Formally, the yacht is managed by the National Asset Recovery and Management Agency (ARMA), which proposed to the government to sell the vessel, the agency's press service said.

"On Friday, February 16, the Cabinet of Ministers of Ukraine approved the sale of the 92-meter yacht Royal Romance, owned by Viktor Medvedchuk's family and located in Croatia, to ARMA. ... A tender for the sale of assets in the form of movable property located abroad and transferred to ARMA for sale is carried out in agreement with the Cabinet of Ministers of Ukraine. Such approval has been formalized today by the relevant protocol decision," the statement said.

All proceeds from the sale will go directly to the state budget of Ukraine. The initial cost of the vessel was estimated at over $200 million.

The sale of the vessel is to take place on the Prozorro platform. The fact is that back in November 2023, the Cabinet of Ministers adopted a resolution that now provides for the sale of seized assets managed by the ARMA through online auctions in the state electronic trading system Prozorro.Sale.

The 92-meter Royal Romance is one of the five largest yachts in the world used exclusively for the needs of their owners. The annual maintenance, repair and fuel costs of such a yacht range from $15 to $20 million.

The Royal Romance yacht was arrested in Croatia on March 16, 2023. The decision to transfer the yacht to the ARMA was made by the Lychakiv District Court of Lviv. The court ruling immediately stated that the yacht would be sold.

At the same time, a court in Split, Croatia, ruled to transfer Medvedchuk's yacht to Ukraine based on a request for international legal assistance. As noted by the head of the ARMA, Olena Duma, if the vessel is sold, this sale will be the first example of the sale of seized assets located abroad.

Medvedchuk already has a new yacht

Medvedchuk, accused of high treason, purchased a new speedboat after being taken to Russia (as a result of an exchange for captured Mariupol defenders). The cost of the vessel is estimated at almost $9.6 million.

It is a Pershing 9X speed yacht called Amore Mio. Such vessels are manufactured by the Italian Ferretti group, which calls this model a "fighter" yacht.

The length of the vessel is 28 meters. There are four cabins and eight beds on board, but the yacht can accommodate up to 20 guests in total. According to journalists, Medvedchuk's new yacht was launched in 2023.

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