Sailing Yacht A is an enormous boat designed for a wealthy Russian named Andrey Melnichenko. It’s considered the largest sailing yacht in the world, measuring nearly 143 metres long. This incredible yacht comes with a price tag of $600 million, and it can comfortably host up to 20 guests and have a crew of 54 people.
It’s packed with fancy features like a spa, an elevator, a gym, and even a special room beneath the water where one can watch sea creatures. Plus, it has 10 bedrooms.
However, due to some rules made by the European Union regarding Russian business people and a conflict in Ukraine, the Italian authorities took control of the yacht on March 12, 2022, in Trieste.
Sailing Yacht A: Seizure Details
On March 12, 2022, the Italian financial police boarded and seized the superyacht “Sailing Yacht A” owned by Russian billionaire Andrey Melnichenko, in the Trieste port in the northeast. The boat was owned and registered on the Isle of Man by Bermuda-based Valla Yachts Ltd. Its worth is estimated by the Italian government to be around $578 million. The yacht was reportedly berthed in Ras al-Khaimah, United Arab Emirates.
Since Melnichenko is a well-known close associate of President Vladimir Putin, it was detained due to his ownership. In September 2023, the boat was released from dry dock in Trieste, Italy, although no justification was provided.
The European Union included Melnichenko in a mass list of sanctions on business leaders and others described as close to Putin in March 2022.
Who is Andrey Melnichenko?
Andrey Melnichenko is a wealthy entrepreneur hailing from Russia and the United Arab Emirates. He founded two major companies, EuroChem Group, which deals with fertiliser production, and SUEK, focused on coal mining. For a while, he played a role on the boards of these companies until March 9, 2022, when he had to step back due to European Union sanctions.
He also resigned from his positions on both companies’ boards. His wife, Aleksandra Melnichenko, now holds control over these companies. Most of Andrey Melnichenko’s wealth comes from owning significant shares in these two private Russian firms, EuroChem and SUEK. He was born on March 8, 1972, in Gomel, a city that was once part of the Byelorussian SSR.
Sanctions Imposed on Andrey Melnichenko
Andrey Melnichenko found himself on the sanction list of the United States government on August 2, 2022, following Russia’s attack on Ukraine. The sanctions levied against him were severe, marking him as a Specially Designated National (SDN), effectively locking down his assets and forbidding any transactions with U.S. entities.
This action was taken under the authority of Section 1(a)(i) of Executive Order (E.O.) 14024, which targets individuals who have been involved in the financial services sector of the Russian Federation’s economy. The intention was clear: to curtail his influence and participation in this sector.
It is important to note that Aleksandra Melnichenko, Andrey Melnichenko’s spouse, also found herself in the crosshairs of sanctions. Her name was not only on the U.S. government’s list but also on the European Union’s.
FAQs: Sailing Yacht A
Q.1: How much does the Sailing Yacht A cost?
The estimated cost of Sailing Yacht A exceeds $450 million.
Q.2: Why was Sailing Yacht A arrested in Italy?
The Sailing Yacht A was arrested in Italy on March 10, 2022, due to the European Union’s sanctions imposed on a number of Russian individuals and entities, including Andrey Melnichenko, the owner of the yacht.
Q.3: What were the EU sanctions against Andrey Melnichenko?
The European Union authorised sanctions against Andrey Melnichenko on March 9, 2022, following the Russian invasion of Ukraine. The sanctions include freezing his assets, banning him from entering the European Union, and prohibiting EU entities from providing funds to him.
Q.4: What happened to Sailing Yacht A after it was arrested?
The Sailing Yacht A was sequestered at the northern port of Trieste, Italy, after it was arrested on March 10, 2022. The Isle of Man also chose to de-list the yacht from its registry following the arrest.
