The Gibraltar authorities impounded Superyacht Axioma, which was linked to Russian steel tycoon Dmitry Pumpyansky in March 2022.
He is a prominent Russian Oligarch struck by international sanctions.
What are the key features of Superyacht Axioma?
Superyacht Axioma, built by Dunya Yachts in 2013, is the largest motor yacht ever constructed. It has a length of 73 meters (240 feet) and can accommodate up to 12 guests and 20 crew members.
The yacht features a remarkable double-deck gallery in the main. Plus, it is powered by Caterpillar engines with a speed of 18 knots.
It was owned by Dmitry Pumpyansky, a Russian billionaire who is currently on the sanction list.
Why was Superyacht Axioma seized?
The yacht was seized by the Gibraltar authorities in March 2022. This happened after a US bank claimed that Pumpyansky had reneged on the terms of a 20.5 million euro loan.
The yacht was sold at auction in September 2022 for $37.5 million, and the proceeds went towards settling the ship’s debts to creditors.
Seizure and Auction: Timeline of Events
- After a US bank claimed that Dmitry Pumpyansky, the Russian billionaire owner of the yacht, had broken the terms of a 20.5 million euro loan, the Gibraltar authorities impounded the Superyacht Axioma in March 2022.
- August 20, 2022: The Axioma was listed for auction in Gibraltar for one day only, and it was expected to go for less than its estimated value of £63 million ($75m).
- August 23, 2022: The Axioma was sold at a private auction by the Admiralty Court of Gibraltar for $37.5 million, with Howe Robinson handling the sale.
- According to reports, the Superyacht Axioma will return to its original owner, Dmitry Pumpyansky, whom the European Union sanctioned over his alleged close ties to President Vladimir Putin.
- September 27, 2022: The sale of the Superyacht Axioma was finalized, and the yacht left its berth in Gibraltar and is currently en route to Turkey under new ownership.
Who is Dmitry Pumpyansky?
Dmitry Pumpyansky is a rich businessman from Russia. He was born on March 22, 1964. He used to trade in metals, then he managed a few metal factories, and later he took control of the Sinarsky Pipe Factory. In 2002, he joined OAO TMK, a company that makes steel pipes for the oil and gas industry, and by 2006, he owned the whole thing.
As of August 2022, he was worth about $2.0 billion. Dmitry Pumpyansky is married and has one child. He lives in Yekaterinburg, Russia. It’s important to note that he has faced sanctions from the European Union because they believe he has close connections with President Vladimir Putin.
What are the sanctions imposed on Dmitry Pumpyansky?
Dmitry Pumpyansky found himself on the sanctions list of the European Union (EU) in the wake of his alleged close connections with President Vladimir Putin. This situation unfolded in February 2022 when the European Council strongly condemned Moscow’s invasion of Ukraine and took action by imposing sanctions on a number of individuals and entities, with Pumpyansky being one of them.
Pumpyansky wasn’t one to take these sanctions lightly, and he decided to challenge his inclusion on the EU’s sanctions list. However, his appeal faced a setback when the EU General Court rejected it in September 2023. The EU’s reasoning behind this decision was grounded in Pumpyansky’s status as a billionaire whose business interests were seen as intertwined with and profiting from, ties to the Russian state.
In a twist of events, not only did Pumpyansky face the sanctions, but the EU also extended the measures to his family members. His wife and son similarly pursued appeals to be taken off the sanctions list, but they too were met with disappointment.
The EU’s sanctions on Pumpyansky entail a travel ban and the freezing of all assets he and his family have within the EU. This is part of the EU’s efforts to exert pressure and signal disapproval of those believed to be benefiting from close ties with the Russian government, especially in the context of the Ukraine conflict.
FAQ – Superyacht Axioma
Q.1 What is the Superyacht Axioma?
The Superyacht Axioma is a luxury motor yacht built by Dunya Yachts in 2013. It has a length of 72.5 meters (240 feet) and can accommodate up to 12 guests and 20 crew members. The yacht features a double-deck gallery in the main. The interior design was done by Alberto Pinto and the exterior design by Sterling / Scott.
Q.2 Who is the owner of the Superyacht Axioma?
Dmitry Pumpyansky, a Russian billionaire businessman, is the owner of the superyacht Axioma. However, the Gibraltar authorities seized the yacht in March 2022 after a US bank alleged that Pumpyansky had broken the terms of a 20.5 million euro loan. The yacht was sold at auction in September 2022 for $37.5 million, and the proceeds went towards settling the ship’s debts to creditors.
Q.3 What are the features of the Superyacht Axioma?
The Superyacht Axioma has a range of leisure options on board, including a sun deck with a barbecue, a media room on the upper deck, and a 3D cinema room. The yacht also has a steam room, sauna, and gym on her bridge deck. The yacht is equipped with an ultra-modern stabilization system that works at zero speed and when traversing rough waters to reduce roll motion and offer a more enjoyable cruising experience.