Seized £63m superyacht owned by Putin’s billionaire crony goes up for auction in Gibraltar
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A £63 million Russian superyacht that was seized earlier this year will now be put up for auction.
The Axioma was seized in Gibraltar in March after the US bank JP Morgan claimed the sanctioned oligarch owner, Dmitrievich Pumpyansky, 58, had not paid off a £17 million loan.
The 224ft vessel will be auctioned on the island on Tuesday at Gibraltar’s Admiralty Court.
It is expected to go under the hammer for less than its estimated value as has only been listed for one day.
The enormous yacht can sleep 12 people in six cabins and has space for 22 crew members.
Axioma is estimated to cost £63 million but is expected to sell for less than this at the auction on Tuesday. Some government’s, including the UK, called for the proceeds of seized assets to help Ukrainian refugees – but the money raised from selling Axioma is believed to be going to JP Morgan
On board features include a 3D cinema, two swimming pools, a swim-in cocktail bar, Jacuzzi, spa, jet skis and scuba diving equipment.
It will be the first seized superyacht to be sold since restrictions were imposed on Russian oligarchs in February following Putin’s invasion of Ukraine.
Some government’s, including the UK, called for the proceeds of seized assets to help Ukrainian refugees – but the money raised from selling Axioma is believed to be going to JP Morgan.
While the boat is owned by Putin’s crony, Pumpyansky, it was originally called Red Square when it was built in 2013.
One of the bedrooms on the superyacht. The boat can sleep up to 12 guests and has space for 22 crew members. The vessel was previously available to rent under its previous name, Red Square. It would cost millionaires up to £465,000 per week without extra expenses such as fuel or staff tips
The yacht it decked out with two-swimming pools, a swim-up cocktail bar, a 3D cinema, a Jacuzzi, a spa, jet skis and scuba diving equipment
Fuel costs for the vessel alone cost around £15,000 a week and crew can make upwards of £10,000 a week in tips. Famous faces who previously rented out the boat include supermodel Kendall Jenner and Formula 1 driver Lewis Hamilton.
Red Square was available for millionaires to rent at up to £465,000 per week without including extra expenses.
Fuel costs for the vessel alone cost around £15,000 a week and crew can make upwards of £10,000 a week in tips.
Famous faces who have been linked to the now-seized superyacht include Kendall Jenner, who is a supermodel and half-sister of reality TV star Kim Kardashian, as well as Formula 1 driver Lewis Hamilton.
Kendall Jenner and Lewis Hamilton spotted aboard the superyacht in Monaco back in 2015. The Hadid sisters and Hailey Bieber were also on board the luxury vessel that day
Both had previously chartered the vessel.
Jenner was caught leaping from the top deck of the huge vessel into the ocean below, which was captured by paparazzi.
The photo was then shared on Jenner’s own social media, earning her millions of likes and bringing the vessel international fame.
The superyacht in Gibraltar harbour in March after it was seized after JP Morgan said the owner had not paid back a £17 million loan. It was later revealed that the vessel was owned by Putin’s crony, Pumpyansky who made his £2 billion fortune through his steel pipe manufacturer OAO TMK, a supplier to the Russian owned energy company Gazprom
Pumpyansky made his almost £2 billion fortune on oil and gas pipelines. He is the owner and chair of the steel pipe manufacturer OAO TMK, a supplier to the Russian owned energy company Gazpro. Since Russia invaded Ukraine, the oligarch has been sanctioned by the UK, EU and the US
Pumpyansky made his almost £2 billion fortune on oil and gas pipelines.
He is the owner and chair of the steel pipe manufacturer OAO TMK, a supplier to the Russian owned energy company Gazprom.
It only emerged that Pumpyanksy had ties to the British Virgin Islands company, who owned the vessel, after there was a huge leak of confidential papers from a Panama-based bank.
Since Russia invaded Ukraine earlier this year, Pumpyansky has been banned from the UK, EU and the US.