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Bloomberg Businessweek US
|November 14, 2022
American and European taxpayers are helping maintain Russian superyachts stuck in legal limbo

Amadea, a superyacht worth $325 million, has been moored in the port of San Diego since June, unused, legally bound there for many more months, likely years. It’s 348 feet long, with six decks, and it looms over a waterside park where families come for picnics and anglers for mackerel. The US claims the owner is a Russian oligarch who’s been sanctioned; as evidence the government noted his recent purchases of a new pizza oven and superfast jet skis. Already on board were two baby grand pianos (one handpainted), a 32-foot mosaic pool and what could be one of the last remaining Fabergé eggs, commissioned by Russia’s Imperial family and worth millions of dollars. All of that is now under the care of American taxpayers.
And a superyacht requires a lot of care. It’s not possible to seize one, then leave it docked and untended until Russia’s war against Ukraine ends. It sits in a hostile environment of salt water and humidity that causes rust and mold unless the air conditioning is on. Amadea can generate its own power and desalinate its own water, and those systems must be maintained. The propellers need to be run regularly to prevent the buildup of barnacles. The yacht usually has to be washed weekly to avoid dirt accumulation that could damage the exterior and require a multimillion-dollar repaint job. The mooring lines must be monitored so they don’t break in high winds or strong currents. Normally operated by a crew of 33,
This story is from the November 14, 2022 edition of Bloomberg Businessweek US.
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