Luxury SuperYacht Flying Fox Added to the US Sanctions List On June 2, 2022

The SuperYacht Flying Fox is the world’s biggest yacht available for charter. It was added to the US sanctions list after the Russian invasion of Ukraine. Flying Fox was launched in 2019 and is arguably the world’s most desired charter yacht. She wears an exterior designed by  Espen Øino International and an interior by  Mark Berryman Design. With 9,022 GT of interior volume, Flying Fox offers bags of space for 22 guests, who’ll be looked after by 54 crew.

US Sanctions On Imperial Yachts Who Manages SuperYacht Flying Fox

On June 2, 2022 , the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action to degrade the key networks used by Russia’s elites, including President Vladimir Putin, to attempt to hide and move money and anonymously make use of luxury assets around the globe.

Among the various companies, vessels and individuals added to the U.S. sanctions list was the Monaco-based yacht brokerage firm Imperial Yachts led by Russian CEO Evgeniy Kochman.

Citing the company as a “Kremlin Aligned Yacht Brokerage”, the sanctions report that the brokerage house; “maintains an office in Russia’s capital and provides yacht-related services to Russia’s elites, including those in President Putin’s inner circle. When not in use by their owners, superyachts can be offered for charter through businesses such as Imperial Yachts, generating income for the owners, who are in some cases Russia’s oligarchs.” While other yacht brokerages could be impact under this final line, the list specifically mentioned Imperial Yachts due to its ownership by a sanctioned individual.

In addition to the sanctions imposed against the brokerage house itself, the sanctions also mention a number of vessels operating under the management of Imperial Yachts, including the SuperYacht Flying Fox, recording the vessel as “blocked property”.

Imperial Yachts Statement Over US Sanctions

Imperial Yachts refuted the accusations made by the United States government and the various media outlets .

Spokesperson for Imperial Yachts issued the following statement.

Like all leaders in our business, we have gone through a recent period where the yacht industry has been subjected to inquiries from some authorities, but over the past few months, Imperial Yachts has been targeted by numerous unfounded and inaccurate accusations following events that are unrelated to this family owned company and its services.

These events culminated today with the announcement of sanctions on our company by the United States government. The accusations made against us by the U.S. government and in the press are false. We will pursue all available legal remedies to resolve this matter promptly.

Imperial Yachts conducts all its businesses in full compliance with laws and regulations in all jurisdictions in which we operate. We are not involved in our clients’ financial affairs.We are in the yacht building, management, sale and charter business. That is our focus and what we do. We started this company from nothing, and now, it appears that due to our success, we are unfortunately being targeted by those who would like to bring us down.

We look forward to settling all matters resulting from this turbulent time, as well as disproving the damaging smears made against our company. As always, our focus remains on living up to our established name as an international leader in providing the highest level of excellence for yacht sales, construction, management, and chartering.” 

Flying Fox Detained in the Dominican Republic

SuperYacht Flying Fox owned by a Russian oligarch Dmitry Kamenshchik , was anchored in the Sans Souci Port in Santo Domingo since 21 March 2022. On April 1st, the yacht was searched by agents from the Public Prosecutor’s Office, Customs, armed forces, and some personnel from the U.S. Homeland Security Investigations (HSI). This was part of their investigation “into alleged money laundering and arms trafficking”.

According to the Public Prosecutor’s Office, the US is investigating several people suspected of international money laundering. Therefore, the warrant to search the yacht is based on legal cooperation with the US, as required by international agreements signed by the Dominican Republic to combat crime.

SuperYacht Flying Fox spent an entire month in Port Don Diego in Santo Domingo, accruing costs of over $1 million just in fees and taxes.

On 22 April 2022, the SuperYacht Flying Fox left the Don Diego port of Santo Domingo , after being held in this area since the end of March . It was said be heading to Turkey, which has become a safe haven for Russian-owned superyachts, whether the owners are subject to sanctions or not.

Beyonce and Jay-Z’s birthday Party Boat ” Flying Fox “

Beyoncé celebrated her 40th birthday at sea on SuperYacht Flying Fox in Sept 2021. They rented the yacht and sailed across the Mediterranean with her family. The superyacht rents for a whopping $4.2 million a week.

https://www.instagram.com/p/CTxVGIhvK7v/

Flying Fox was dubbed by Italian media to be the ‘Jeff Bezos Yacht,’ but Amazon issued a statement denying his participation. Jeff Bezos is in the process of building a huge sailing boat.

FAQs on Superyacht Flying Fox

What is Superyacht Flying Fox?

Superyacht Flying Fox is a 136-meter (446-foot) motor yacht that was built in 2019 by Lürssen Yachts in Germany.

What is the significance of Flying Fox?

Superyacht Flying Fox is one of the largest and most luxurious yachts in the world. She features a sleek and modern design, as well as a variety of amenities, including a swimming pool, jacuzzi, spa, and gym. She can accommodate up to 22 guests in 11 cabins, and she has a crew of 54.

Why was Superyacht Flying Fox added to the US sanctions list?

Flying Fox was added to the US sanctions list on March 11, 2023, in response to the Russian invasion of Ukraine. The US government alleges that owner is a close associate of Russian President Vladimir Putin and that he has benefited from the Russian government’s corruption.

What does it mean that Superyacht Flying Fox is on the US sanctions list?

It means that US citizens and companies cannot provide any funds, goods, or services to Superyacht Flying Fox. This includes things like refueling, maintenance, and repairs. The US government can also seize Superyacht Flying Fox if she is found in US waters.

Is Superyacht Flying Fox under arrest?

No, Superyacht Flying Fox is not under arrest. She is still owned by Imperial Yachts and she is not physically in the possession of the US government. However, US citizens and companies cannot do any business with her, and she cannot be brought into or taken out of the US.

What is the future of Superyacht Flying Fox?

It is unclear what the future holds for Superyacht Flying Fox. The US sanctions could be lifted at some point, but it is also possible that they will remain in place for many years. If the sanctions remain in place, it will be difficult to use and maintain Superyacht Flying Fox.

Are there any other yachts that have been sanctioned by the US?

Yes, the US has sanctioned a number of other yachts owned by Russian oligarchs in response to the invasion of Ukraine. These include yachts owned by Roman Abramovich, Alisher Usmanov, and Alexey Mordashov.

What impact have the US sanctions had on the luxury yacht industry?

The US sanctions have had a significant impact on the luxury yacht industry. Many yacht owners are concerned about the possibility of their yachts being seized, and some have even sold their yachts to avoid being targeted. Additionally, the sanctions have made it difficult for yacht brokers and other businesses in the industry to operate.

What is the significance of Superyacht Flying Fox being added to the US sanctions list?

The addition of Superyacht Flying Fox to the US sanctions list is a significant development. It is one of the largest and most luxurious yachts in the world, and it is owned by a close associate of Russian President Vladimir Putin. The sanctions are a sign that the US is willing to target high-value assets in response to the Russian invasion of Ukraine.