Medvedchuk’s arrested yacht has moved under the Ukrainian flag: what it means
15 May 2024 13:19
The arrested 92-metre yacht Royal Romance, which belonged to former MP, Putin’s godfather and traitor to Ukraine Viktor Medvedchuk, has been granted the status of a Ukrainian vessel, which means that the vessel is subject to Ukrainian jurisdiction. This was reported by the Asset Recovery and Management Agency (ARMA), "Komersant Ukrainian" reports
When handing over the certificate of the right to fly the national flag of Ukraine to the head of ARMA Olena Duma, the head of the State Service of Maritime and Inland Water Transport and Shipping Yevhen Ihnatenko noted that the relevant changes had already been made to the International Maritime Organization (IMO).
“This is a historic moment for our country. The first seized asset located abroad in the history of Ukraine has received state registration in Ukraine. This will facilitate the further sale of the seized yacht and the proceeds of the sale to the state budget of Ukraine. We are proud to be part of this process and are confident that this property will serve the interests of Ukraine,”
– said Ihnatenko.
For her part, Olena Duma reiterated that all illegally acquired property taken abroad will be returned to the jurisdiction of Ukraine.
What is known about Medvedchuk’s yacht
The 92-metre-long Royal Romance yacht is currently in Croatia.
Royal Romance is one of the five most luxurious yachts in the world and is used exclusively for the needs of the owner and his guests. Her maintenance and travel costs are estimated at $15-20 million a year.
Royal Romance was built by Feadship. Seymour Diamond designed the yacht’s interior. Royal Romance is equipped with two MTU diesel engines of 3004 hp each.
In total, the yacht can accommodate 14 guests and 22 crew members at a time. The yacht is 29 metres high, has 6 floors and 2 lifts. There are four decks, a cinema, a gym, a swimming pool, a SPA area and a beauty salon, as well as about 50 rooms for various purposes.
Viktor Medvedchuk received the vessel in July 2015. The cost of the 92-metre vessel is estimated at around $200 million.
On 16 February, the Cabinet of Ministers of Ukraine approved the sale of the 92-metre yacht Royal Romance to ARMA, and on 20 March, the yacht was put up for auction.
Seizure of Medvedchuk’s yacht
Earlier, the District Court of Split (Croatia) ruled that the aforementioned yacht, which was seized under European Union sanctions, should be transferred to Ukraine.
The Croatian police arrested the yacht in the port of Rijeka in March 2022. The vessel was arrested under the sanctions imposed by the European Union against Russia, Russian oligarchs, officials and persons associated with them.
The court seized the yacht back in 2021. In particular, the SBU investigators documented repeated violations of the law by the crew of the private vessel ROMANCE 1 (home port – Kherson). This includes calls to the ports of the Russian-occupied Crimea.
Medvedchuk’s arrest
On 12 April 2022, Medvedchuk himself was arrested as a result of a special operation by the SBU. He is a defendant in several criminal cases of high treason and economic crimes.
on 21 September, Viktor Medvedchuk was exchanged for Ukrainian soldiers held by Russia. As a result, 215 Ukrainian defenders were returned from captivity.
