Sanctioned Billionaire Andrey Guryev’s Yacht Crews Rejoice as Salaries are Restored
18 Months of Struggle: Abandoned Alfa Nero and Luminosity Crew to Get Their Dues
Sanctioned billionaire Andrey Guryev is a glimmer of hope on the horizon, particularly for the dedicated crews of superyachts that have faded into obscurity. After a thorough process, the UK’s Office of Financial Sanctions Implementation, known as Ofis, has granted Burgess a license to provide compensation to sanctioned crew members. The sumptuous vessels Alfa Nero and Luminosity, both owned by sanctioned billionaire Andrey Guryev, have encountered numerous challenges. While the Alfa Nero, left abandoned in Antigua since February 2022, was most recently sighted in Saint Kitts and Nevis, the $270 million Luminosity, a lavish 351-foot Benetti yacht, remains unattended in Montenegro.
A talented skeleton crew has kept these magnificent ships in pristine condition, but regrettably, they have not received their due pay for a considerable amount of time. Thanks to the authorization from the UK government, the crew members of Luminosity and Alfa Nero will at last be compensated for their pre-sanction earnings before the end of the year. Lucy Medd, who serves as the Partner and Head of Crew Management at Burgess, informed Superyachtnews, “The crew has demonstrated remarkable patience, and they are now relieved that this issue is drawing closer to a solution.”
Burgess Crew Services (BCS) PCC Ltd. has the license to settle any outstanding wages and notice periods for both Alfa Nero (registration number 347) and Luminosity (registration number 437). This is in line with the letters of termination sent to each crew member in March 2022, when the sanctions were first put in place. Furthermore, Medd clarified, “The license also empowers BCS to distribute the Alfa Nero gratuity to the crew, as per the prior agreement made before the sanctions came into effect.”
Burgess has a good outlook that both crews will receive full payment by the end of the year. Medd mentioned, “BCS is currently in the process of seeking approval for the release of funds from the Policy & Resources Committee in Guernsey.” When asked by a crew member if interest would be added to the owed money, Medd clarified, “I want to emphasize that offering interest on approved funds is against the law.”
While the Office of Financial Sanctions Implementation may authorize salary disbursements to its employees, it falls short of meeting the needs of certain wealthy individuals. Mikhail Fridman, a Russian-Israeli billionaire subject to sanctions, was prohibited from making monthly payments of $50,000 to cover the operational expenses of his multimillion-pound property in North London. In response to this, he initiated a legal challenge against the UK government in the High Court. Ofis further irked the businessman by refusing his request for a modest monthly sum of $3,000 to maintain an integrated lighting, heating, and communications system. Ofis asserted that granting these payments would enable the sanctioned tycoon to sustain his opulent lifestyle.
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