The Italian Police seized the superyacht Lady M owned by Alexei Mordashov, a Russian Oligarch subject to sanctions since March 2022.
Superyacht Lady M: Key Features
The American Palmer Johnson factory in Sturgeon Bay, Wisconsin, launched the 65-metre superyacht Lady M on May 13, 2013. It has six cabins that can accommodate up to 12 guests and seven cabins for 14 crew members.
Its two main engines are MTU 16V 4000 M93L, which give it a power of 9,222 hp (6,877 kW) and it can go as fast as 52 km/h (28 knots).
Lady M: One of the Largest Yachts in the World
It has a beam of 9.5 metres, a draft of 2.9 metres, and a volume of 716 GT. The yacht features exterior and interior designs by Nuvolari Lenard.
Surprisingly, Lady M is the largest yacht Palmer Johnson yachts has ever built and is listed at number 380 in the world rankings for the largest yachts.
Alexei Mordashov is a prominent businessman from Russia, born on September 26, 1965, in Cherepovets, Russia. He owns a big part of Severstal, the largest steel and mining Russian company. He also has a lot of shares in Nordgold, which is a mining company, and he’s invested in other things like Power Machines (which makes power equipment), Lenta (a big store chain), and Rostelecom (a telecom company).
He didn’t just stick to steel or Russia – he also bought shares in TUI AG, a company that does tours in Europe.
Some documents like the Panama Papers and FinCEN files talked about him, and a company connected to him paid for some of Vladimir Putin’s special projects and gave money to Putin’s close friends.
Reasons for Sanctions
The EU is upset with him for being involved with Rossiya Bank, which they say is like a ‘special bank’ for important Russian people who benefited from taking over Crimea. The EU also says Mordashov’s media businesses, which have ties to Russia, might have made things worse in Ukraine by supporting TV stations that are on the side of Russia.
Because of these issues, the US government also put sanctions on Mordashov. This means they’re making it hard for his steel company, Severstal PJSC, to sell stuff to the US.
Superyacht Lady M Seizure: Timeline of Events
Before March 2022, the yacht was in a northern Italian port called Imperia.
February 28, 2002
The European Union placed Alexie Mordashov on its list of those subject to sanctions.
March 4, 2022
The Italian police took control of the yacht. They did this because many countries were putting pressure on Russia to stop the Ukraine invasion.
Alexei Mordashov challenged the EU sanctions, but they remained in place.
Expected to arrive on November 9, 2023
Lady M is currently moored in the West Mediterranean and is expected to arrive at the port of Imperia, Italy, on November 9, 2023
Q.1 What is Superyacht Lady M?
Superyacht Lady M is a luxurious 65-meter yacht launched on May 13, 2013, by the American Palmer Johnson factory in Sturgeon Bay, Wisconsin. It has six cabins for up to 12 guests and seven cabins for 14 crew members.
Q.2 What are the key features of ‘Lady M’?
Lady M features two MTU 16V 4000 M93L main engines, providing a power output of 9,222 horsepower and a top speed of 52 km/h (28 knots). The yacht has a beam of 9.5 metres, a draft of 2.9 metres, and a volume of 716 gross tonnes (GT). Nuvolari Lenard is the interior and exterior designer.
Q.3 When was ‘Lady M’ seized, and why?
On March 4, 2022, the Italian police took control of ‘Lady M’ while it was moored in the northern Italian port of Imperia. This seizure occurred in response to international pressure on Russia to cease its invasion of Ukraine, and Alexei Mordashov had been included in EU sanctions just days before.
Q.4 Where is ‘Lady M’ currently located, and when is it expected to arrive at a port?
As of the latest information available, Superyacht Lady M is moored in the West Mediterranean and is expected to arrive at the port of Imperia, Italy, on November 9, 2023.