Italy’s $46M Yacht Care Costs May Lead to Return of Seized Vessel
Rome – Italy reportedly spent 46 million euros (approximately $46 million) maintaining the luxury yacht *A*, seized in 2022, and now faces the potential requirement to return it. The 130-meter (426-foot) vessel, valued at 600 million euros ($600 million), was impounded after its purported owner, Russian billionaire Andrey Melnichenko, was sanctioned by the European Union due to his alleged connections with the Russian government.
The significant upkeep costs, confirmed by Italian authorities, covered expenses such as crew salaries, dockage fees, and maintenance of the yacht's complex systems. These expenses were incurred while legal proceedings regarding the seizure were ongoing. Italian officials stated the costs were necessary to prevent damage to the sophisticated vessel and ensure its preservation.
Andrey Melnichenko, a prominent figure in Russia's fertilizer industry, was among numerous Russian oligarchs targeted with EU sanctions following the invasion of Ukraine. The sanctions effectively froze his assets abroad, including the *A*, which was sailing off the coast of Corsica when it was seized.
Legal challenges to the seizure have been mounting, and recent court rulings have cast doubt on Italy’s ability to retain the yacht. While authorities initially believed the seizure was justified under EU sanctions regulations, subsequent legal interpretations suggest that the process may not have fully complied with due process requirements. This has led to the possibility that Italy may be compelled to relinquish control of the *A*, despite the considerable expenses already incurred in its upkeep. The final outcome remains uncertain as legal battles continue.
