andrey melnichenko superyacht

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Italian authorities seize one of world’s largest superyachts from oligarch

Sailing Yacht A, owned by Russian businessman Andrey Melnichenko, seized in Trieste on Friday evening

• Russia-Ukraine war – latest news

Italian authorities have seized a €530m (£444m) superyacht owned by Russian businessman Andrey Melnichenko as part of EU sanctions following Vladimir Putin’s invasion of Ukraine .

Sy A – short for Sailing Yacht A – was seized on Friday evening in the port of Trieste after being identified by Italian police as belonging to the billionaire owner of EuroChem Group, a major fertiliser producer, and the coal company SUEK.

Video footage reportedly showed police cars with flashing lights approaching the yacht, said to be one of the largest in the world, and boarding it.

EuroChem and SUEK said in statements on Thursday that Melnichenko had resigned as a member of the board in both companies and withdrawn as their beneficiary, effective on Wednesday.

It comes as Roman Abramovich’s superyacht Solaris was pictured arriving in Tivat, Montenegro, on Saturday. The vessel left a port in Barcelona earlier this week as the UK government imposed sanctions on the Russian billionaire owner of Chelsea Football Club.

On Thursday, it was tracked off the coast of Sicily after reportedly undergoing repairs earlier in the week in Barcelona, one of a number of apparently hurried sailings of Russian billionaires moving their superyachts to avoid seizure. His other yacht, the more luxurious Eclipse, was on Thursday located to the west of the Canary Islands.

A European Council decision authorising the sanctions against Melnichenko says he was one of 37 business leaders who met with the Russian president after the invasion of Ukraine to talk about the potential economic impact of EU and US sanctions.

Melnichenko, the document states, “belongs to the most influential circle of Russian businesspeople with close connections to the Russian government”.

It adds: “He is therefore involved in economic sectors providing a substantial source of revenue to the government of the Russian Federation, which is responsible for the annexation of Crimea and the destabilisation of Ukraine.”

A spokesperson for Melnichenko, Alex Andreev, said the businessman had “no relation to the tragic events in Ukraine. He has no political affiliations”.

“There is no justification whatsoever for placing him on the EU sanctions list,” Andreev said. “We will be disputing these baseless and unjustified sanctions, and believe that the rule of law and common sense will prevail.”

Italian authorities have separately seized €143m worth of luxury yachts and villas owned by Russian billionaires in luxury destinations including Lake Como, Sardinia and the Ligurian coast.

Nobiskrug, the manufacturer of Sailing Yacht A, describes the three-mast vessel on its website as “one of the world’s largest and most advanced superyachts” and the “ultimate embodiment of German superyachts built for the 22nd century”. It is almost 143 metres long, the mainmast is 100 metres above the waterline, and the yacht has a gross tonnage of about 12,600.

Other yachts seized by Italian police include Lady M, owned by Alexei Mordashov who, before being blacklisted this week by the EU, was the richest man in Russia. A yacht owned by Gennady Timchenko, another billionaire with close ties to Putin, was also seized.

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International Edition

Ukraine war: £443m superyacht owned by oligarch Andrey Melnichenko seized in Italy as part of sanctions

The vessel, the biggest sailing yacht in the world, is owned by billionaire Andrey Melnichenko, who made a fortune in fertiliser production and coal.

News reporter

Sunday 13 March 2022 01:14, UK

A Russian-owned superyacht valued at £443m has been confiscated by Italian police in the port of Trieste as part of a global crackdown on wealthy oligarchs.

The Sy A yacht is owned by billionaire Andrey Melnichenko, 50, who made a fortune in fertiliser production and coal.

The vessel was seized on Friday evening.

Designed by Philippe Starck and built by Nobiskrug in Germany, the vessel is the world's biggest sailing yacht at 143m in length.

Read more: Russia says Western arms shipments now 'legitimate military targets' - follow latest updates on Ukraine war

Footage shows police cars approaching the triple-masted yacht and officers boarding it.

Italian authorities last week seized £120m in luxury yachts and villas belonging to Russian billionaires in picturesque retreats such as Sardinia, the Ligurian coast and Lake Como as part of sanctions against oligarchs linked to Vladimir Putin.

A statement from the Official Journal of the European Union described Melnichenko as belonging to the "most influential circle of Russian businesspeople with close connections to the Russian Government".

It added: "On 24 February 2022, in the aftermath of the initial stages of Russian aggression against Ukraine, Andrey Igorevich Melnichenko, along with other 36 businesspeople, met with President Vladimir Putin and other members of the Russian government to discuss the impact of the course of action in the wake of Western sanctions.

"The fact that he was invited to attend this meeting shows that he is a member of the closest circle of Vladimir Putin and that he is supporting or implementing actions or policies which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine, as well as stability and security in Ukraine."

A spokesperson for Melnichenko said the businessman had "no relation to the tragic events in Ukraine and has no political affiliations".

"There is no justification whatsoever for placing him on the EU sanctions list.

"We will be disputing these baseless and unjustified sanctions, and believe that the rule of law and common sense will prevail."

A number of oligarchs have sought to move their superyachts to safe locations to avoid confiscation.

Roman Abramovich's superyacht Solaris has been spotted in the small Adriatic Sea state of Montenegro.

The 533ft Solaris was seen on Saturday outside the Porto Montenegro marina in the coastal town of Tivat after arriving from Barcelona.

There was no immediate comment from the Montenegrin authorities on the arrival of the £460m vessel.

The NATO country has joined Western sanctions imposed on Russia for its invasion of Ukraine.

It comes after Abramovich was sanctioned by the UK government .

The Chelsea Football Club owner is one of seven more Russian oligarchs who have had sanctions placed on them by ministers in response to Russia's invasion of Ukraine.

A government document announcing the move said that Abramovich has had a "close relationship for decades" with Putin.

The UK is the first nation to sanction Abramovich, who has been described by the government as a "pro-Kremlin oligarch".

The government has now sanctioned more than 200 individuals and entities.

Related Topics

• International

March 11, 2022 Russia-Ukraine news

By Aditi Sangal , Adrienne Vogt , Meg Wagner , Melissa Macaya, Julia Hollingsworth , Jessie Yeung , Adam Renton, Jeevan Ravindran and Jason Kurtz, CNN

Italy seizes $578 million mega yacht owned by Russian oligarch Andrey Melnichenko

From CNN's Nicola Ruotolo and Paul P. Murphy

Italian authorities seized Russian oligarch Andrey Melnichenko's mega yacht on Friday, according to a statement from Italy's finance police.

The statement said the vessel — called "SY A" — is worth about 530 million euros ($578 million) and was in storage at the northeastern port of Trieste.

It's one of the largest superyachts in the world, according to its manufacturer,  Nobiskrug .

The sanctions: Melnichenko was sanctioned by the European Union on March 9 as part of expanded punitive measures against Russian oligarchs. According to the EU, he owns the major fertilizer producer EuroChem Group and the coal company SUEK.

The EU council decision , which authorized sanctions against Melnichenko, noted he and 36 other business leaders met with Russian President Vladimir Putin after the invasion of Ukraine began to discuss the potential economic impact of EU and US sanctions. 

The EU council decision reads: "The fact that he was invited to attend this meeting shows that he is a member of the closest circle of Vladimir Putin and that he is supporting or implementing actions or policies which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine, as well as stability and security in Ukraine. "It also shows that he is one of the leading businesspersons involved in economic sectors providing a substantial source of revenue to the government of Russia, which is responsible for annexation of Crimea and ​destabilization of Ukraine."

On Saturday, Melnichenko spokesman Alex Andreev told CNN that the Russian oligarch removed himself from the board of both Eurochem and SUEK (companies he founded) after the EU sanctioned him. Andreev also said that Melnichenko was also no longer the “beneficiary” of the companies, in a statement to CNN.

When asked by CNN if Melnichenko had any comment on the situation in Ukraine, Andreev declined to provide additional comment and instead pointed towards his initial emailed statement to CNN.

“Andrey Melnichenko is an international self-made entrepreneur. He has no relation to the tragic events in Ukraine. He has no political affiliations,” Andreev said in that statement. “There is no justification whatsoever for placing him on the EU sanctions list. We will be disputing these baseless and unjustified sanctions, and believe that the rule of law and common sense will prevail.”

Zelensky calls detention of Melitopol mayor a "crime against democracy"

From CNN's Jennifer Hauser

The detention of the mayor of the southeastern Ukrainian city of Melitopol is a "crime against democracy," Ukraine's President Volodymyr Zelensky said Friday in a video posted on Facebook.

Earlier Friday, Melitopol mayor Ivan Fedorov was seen on video being led away from a government building in the city by armed men. A short time later, the Russian-backed Luhansk regional prosecutor claimed Fedorov had committed terrorism offenses and was under investigation. 

Fedorov's detention was "a sign of the weakness of the invaders," Zelensky said.

"They did not find any support on our land, although they counted on it. Because for years they've been lying to themselves that people in Ukraine were supposedly waiting for Russia to come.  "This is Ukraine here. It is Europe here. It is a democratic world here."

Zelensky added that the mayor's detention was "not only against a particular person, not only against a particular community and not only against Ukraine."

Ukraine's Foreign Ministry called the detention of Fedorov a "war crime," saying the Geneva Convention prohibits civilian hostages from being taken.

Damaged power lines to Chernobyl nuclear plant are being repaired, UN watchdog says

From CNN’s Taylor Barnes

Technicians began working on Thursday to repair damaged power lines serving the Chernobyl nuclear power plant, according to the United Nations' nuclear watchdog.

The lines were entirely cut earlier this week, with the last one “destroyed as a result of the occupant’s shelling” on Wednesday, Ukraine's energy minister said.

The International Atomic Energy Agency (IAEA) said diesel generators have been providing backup power to the site since Wednesday, and additional fuel supplies have been delivered to the Russian-controlled facility.

Some context: Russian troops overran the Chernobyl plant — the site of the world's worst nuclear disaster — on the first day of the invasion on Feb. 24, with staff still inside.

Some 211 technical personnel and guards at the site have in effect been living at the facility and in "increasingly difficult conditions" with potentially dwindling food supplies, the IAEA said.

The Ukrainian regulator told the IAEA it lost communication with the plant on Thursday, though it has continued to receive updates about the situation from senior off-site management.

Other nuclear facilities: The agency also gave updates about two other nuclear facilities in Ukraine. The power situation at the Zaporizhzhia nuclear plant is “unchanged,” with two of four power lines damaged, the IAEA said, adding that one power line could provide the plant’s off-site power needs and diesel generators for back-up power are ready and available. 

In Kharkiv, a nuclear facility for research and development and radioisotope production for medical and industrial applications suffered “additional damage” after facing shelling earlier this week.

However, the IAEA said the nuclear material at that site is subcritical and the inventory of radioactive material is low, and the agency assessed the damage would not lead to radiological consequences.

Here's a look back at the 1986 Chernobyl disaster in pictures:

Photos: The Chernobyl disaster

No diplomatic off-ramp in sight for russia's war in ukraine.

From CNN's Kylie Atwood, Jennifer Hansler and Jeremy Herb

With  Russia's war in Ukraine  now in its third week, US and European officials have little optimism that diplomatic channels can deliver a way out of the conflict at this point.

Talks between Ukraine's and Russia's diplomats this week yielded no discernible progress. Supposedly safe  evacuation routes out of the country have repeatedly been contested. The civilian death toll continues to rise, and by the end of the week both sides were trading accusations over the use of chemical weapons .

While Russian President Vladimir Putin said Friday there had been "certain positive advances" in negotiations with Ukraine, US and European officials and diplomats who spoke to CNN all expressed deep skepticism about the state of talks. None felt Putin's actions to date have suggested the Russian leader is ready to find a diplomatic off-ramp to end the war.

Impact of sanctions: The US and its allies have enacted  crippling sanctions on Russia  in response to its invasion of Ukraine, and US President Joe Biden has kept in touch with European leaders as well as  Ukrainian President Volodymyr Zelensky . But US officials have privately acknowledged they don't believe any of these sanctions are going to change Putin's thinking, and many don't believe Russia's losses in Ukraine will either.

The Biden administration is resisting putting its weight behind any single player involved in early efforts to broker a solution to end the Ukraine crisis. US officials say they have yet to see any tangible progress in any channel and continue to view Ukraine and Russia as the only essential players in driving a solution.

"A variety of different countries can try to shape things as they would like, but at the end of the day, this will likely boil down to what President Zelensky is willing to accept and what President Putin is willing to accept," said a senior State Department official.

Read the full story:

No diplomatic off-ramp in sight for Russia's war in Ukraine | CNN Politics

Explosions heard near kyiv as russian troops press closer to ukraine's capital.

CNN teams in Kyiv reported hearing explosions in the early hours of Saturday morning, with chief international correspondent Clarissa Ward describing "a nonstop volley ... of just heavy booms in the distance," continuing for several minutes.

It's not clear whether the explosions were Russian or Ukrainian strikes, she said.

Fighting is continuing on the outskirts of the Ukrainian capital, with the city's administration saying areas to the north remain the most dangerous, including the suburbs of Bucha, Irpin and Hostomel, as well as the district of Vyshorod further north of Kyiv. Fighting has also escalated in Brovary, across the Dnieper River, east of the city.

As Russian forces press in from several directions, "the worry becomes ... that the intention is to fully surround the city, to starve the city, to bombard the city and then ultimately to try to overthrow (Ukrainian President Volodymyr) Zelensky's government," Ward said. 

Kyiv Mayor Vitali Klitschko told CNN the city currently only has resources — including food and medical supplies — for one to two weeks.

CNN's Ward added that "Ukrainian forces are everywhere" in Kyiv. "They have dug up defensive positions along all the main thoroughfares leading into the city, they've put tank traps around. This is a heavily fortified city now. And even if Russian forces are enable to encircle it, it will still be an almighty battle for them to get to the heart of it."

UK Defense Ministry: Russian airstrikes have targeted cities of Lutsk and Ivano-Frankivsk

From CNN's Sharon Braithwaite in London

Russian air and missile forces have conducted strikes against the western Ukrainian cities of Lutsk and Ivano-Frankivsk in the past 24 hours, the UK Ministry of Defence said in its latest intelligence update on Friday.

The ministry added that Russian tactical aircraft supporting ground forces are relying on "unguided 'dumb' munitions," which are "relatively inaccurate and indiscriminate and their use significantly increases the likelihood of civilian casualties."

Biden detailed new measures to punish Russia in a 49-minute phone call with Zelensky

From CNN's Kaitlan Collins

Prior to his address on Friday, US President Joe Biden spent 49 minutes on the phone with Ukrainian President Volodymyr Zelensky, detailing the new measures he was going to announce regarding US trade with Russia, two officials familiar with the call tell CNN. 

While most of Biden and Zelensky's calls since the invasion have hovered in the 30- to 40-minute range, this was one was a bit longer as Biden highlighted how the US was moving to suspend normal trade relations with Russia in another effort to punish the Kremlin.

Zelensky tweeted that he gave Biden an "assessment of the situation on the battlefield, informed about the crimes of Russia against the civilian population" and they agreed on "further steps to support the defense of Ukraine and increase sanctions against Russia."

Independent US agency calls on Biden administration to push for Russia's expulsion from Interpol

From CNN's Priscilla Alvarez

An independent US government agency is calling on the Biden administration to push for Russia to be permanently expelled from Interpol — a step further than the suspension the administration has already sought — citing the invasion of Ukraine and previous abuses by Russia, according to a letter obtained by CNN.

Earlier this week, Attorney General Merrick Garland joined justice ministers from several allied countries to demand that Interpol immediately suspend Russia from accessing its systems, according to Justice Department spokesperson Anthony Coley.  

Interpol, the International Criminal Police Organization, is a global agency which facilitates police across its 195 member countries to collaborate on criminal investigations. Interpol issues what are known as Red Notices to request the location and arrest of an individual pending their extradition.

Friday’s letter from the Commission on Security and Cooperation in Europe commended the steps the US has taken so far, but added that the administration should call for the permanent suspension of Russia.

“We urge you to use the U.S. position in Interpol (and in particular Interpol's Executive Committee and its Advisory Group on Financial Matters) to make it clear that any failure to act against Russia's abuse of lnterpol will have grave consequences for the U.S. contribution to Interpol's budget and Interpol's legal immunities in the United States,” the letter, directed to Garland and Secretary of State Antony Blinken, reads.

The commission — also known as the US Helsinki Commission — was created by Congress in 1976   with a focus on human rights, military security, and economic cooperation. It is led by Sen. Ben Cardin and Rep. Steve Cohen.

If Russia is suspended from Interpol, it would bar the country from continuing to participate and therefore put in requests for Red Notices, but it would not remove Red Notices that are already in the system, said Ted Bromund, a senior research fellow at the Heritage Foundation and an expert in Interpol.

Core part of Kharkiv nuclear lab not damaged following shelling, institute director says

From CNN’s Philip Wang

The core part of a nuclear research facility in Kharkiv has not been damaged following a relentless round of shelling, the head of the science institute said on Friday in an interview with Reuters.

The outside of the institute has been hit with “major destruction” by several shells launched from the Russian side, said Mykola Shulga, general of the National Science Center Kharkiv Institute of Physics and Technology.

The facility is currently in working condition and safe, Shugla said, adding a warning that if the nuclear fuel tank were to become physically damaged, it could leak radioactive elements and severely harm the environment. 

"The facility, in working condition, doesn't present any danger whatsoever. However, if there is physical damage, nuclear fuel leak is possible, [with] radioactive elements escaping outside. This obviously would be a huge, huge problem for the environment. In other words, what would happen would be comparable to a similar situation at any nuclear power station," Shugla told Reuters.

There are 37 nuclear fuel cells that have been loaded into the core facility, according to Shulga. The institute was about to start working on the industrial utilization of the reactor.

This comes as CNN reported on Thursday that emergency services in Kharkiv were tackling a fire near the Kharkiv Institute of Physics and Technology.

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Russian oligarch's $300 million superyacht hides in plain sight in UAE's neutral waters, avoiding sanctions

• The 390ft superyacht has been anchored in the United Arab Emirates for weeks.
• The vessel belongs to Russian oligarch Andrey Melnichenko, worth an estimated $23 billion.
• Italian authorities seized his $600 million superyacht in March amid western sanctions.

A superyacht belonging to a sanctioned Russian oligarch has been spotted in the port of Ras al-Khaimah, in the United Arab Emirates, according to AP journalists who saw the vessel on Tuesday. 

Andrey Melnichenko's 390ft Philippe Starck-designed Motor Yacht A, worth $300 million, was last reported in Dubai, according to vessel-tracking website MarineTraffic .

Melnichenko's other yacht, worth $600 million, was seized by Italian authorities in early March as part of western sanctions imposed following Russia's invasion of Ukraine.

Related stories

Remaining in the UAE port puts the yacht beyond the reach of western sanctions.

UAE has publicly expressed neutrality about the war in Ukraine. Insider previously reported that sanctioned oligarchs can obtain golden visas by investing at least 10 million dirhams ($2.7 million) in a local company or investment fund.

The Australian broadcaster ABC News and the Financial Times first reported the story.

According to MarineTraffic, the superyacht used to sail under the UK flag.

However, in March, the government of the Isle of Man, a British crown dependency in the Irish Sea, said it had deregistered Melnichenko's yachts including Motor Yacht A because of western sanctions. It added: "We will continue to act with appropriate robustness should the situation warrant it."

European officials told the FT that they don't want "our allies to become facilitators for the Putin regime," and raised concerns with Emirati counterparts that sanctioned individuals could treat the UAE as a financial haven. 

Melnichenko, worth $23.5 billion according to Forbes , founded one of Russia's most successful lenders, MDM Bank. He also ​​founded the fertilizer producer Eurochem and coal energy company SUEK.

Russian oligarchs have also turned to alternative routes regarding financial transactions, such as hawala , an informal money exchange .

A Russian businessman told the FT: "Big banks are more cautious but smaller banks are offering help to those wishing to relocate. It's just taking a lot of time."

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Sanktion gegen Russland : Italien beschlagnahmt größte Segelyacht der Welt

• Von Christian Schubert , Rom
• - Aktualisiert am 12.03.2022 - 11:41

Hier liegt die 143 Meter lange Segelyacht A von Andrey Melnichenko noch im Hafen von Monaco. Bild: Reuters

Das Schiff im Wert von 530 Millionen Euro gehört dem russischen Oligarchen Andrey Melnichenko. Gebaut wurde es in Deutschland.

D ie Guardia die Finanza hat auf der Jagd nach Oligarchen-Vermögen am Freitagabend wieder zugeschlagen. Diesmal tauchte die italienische Finanzpolizei im Hafen von Triest auf und beschlagnahmte die Luxusyacht von Andrey Melnichenko. Das 143 Meter lange Schiff namens „A“ hat drei Masten, von denen der höchste mit 100 Metern über der Wasserlinie größer ist als Big Ben oder die amerikanische Freiheitsstatue.

• Folgen Ich folge

Nach Angaben der italienischen Regierung hat die Yacht einen Wert von 530 Millionen Euro. Sie wurde im Rahmen der Sanktionen gegen russische Oligarchen im Zusammenhang mit dem Krieg in der Ukraine konfisziert. Schon vor einer Woche hatte Italien bekannt gegeben, Vermögen im Wert von 143 Millionen Euro aus dem Besitz russischer Oligarchen beschlagnahmt zu haben.

Der fünfzigjährige Melnichenko gilt als ein Konzernlenker, der Wladimir Putin nahesteht. Auf der jüngsten Liste des Magazins „Forbes“ liegt er unter den reichsten Milliardären auf Rang 105 mit einem geschätzten Vermögen von 11,6 Milliarden Dollar. Er ist der Eigentümer des russischen Düngemittelherstellers Eurochem sowie des Kohle-Energieunternehmens Suek (Siberian Coal Energy Company). Seine Karriere fing in der russischen Finanzbranche an, schon als Student soll er im Handel mit Devisen Geld verdient haben. Später stieg er auf die Energie- und Chemieindustrie um, in der seine Unternehmen laut „Forbes“ mehr als 100.000 Mitarbeiter beschäftigen. Seine Firmen haben in den vergangenen 15 Jahren rund 23 Milliarden Dollar investiert, berichtet das amerikanische Magazin.

Aufgefallen ist er auch durch seinen luxuriösen Lebensstil. Zu seiner Hochzeit an der Côte d’Azur im Jahr 2005 mit einer ehemaligen serbischen Popsängerin sollen Whitney Houston, Christina Aguilera und Julio Iglesias gesungen haben.

Seine 12.700 Tonnen schwere Segelyacht wurde von der Nobiskrug-Werft in Deutschland gebaut. Das Innere hat der Designer Philippe Starck entworfen, es enthält eine Unterwasser-Lounge mit 4 mal 1,80 Meter großen Scheiben. Das Schiff sei die „ultimative Verkörperung einer Superyacht, kreiert und konstruiert für das 22. Jahrhundert“, heißt es auf der Webseite von Nobiskrug. Ein Hybrid-Diesel-Antrieb und ein hochmodernes Navigationssystem gehören zur Ausstattung.

Quelle: FAZ.NET

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Sanktion gegen Russland: Italien beschlagnahmt größte Segelyacht der Welt

Sanktion gegen Russland

Italien beschlagnahmt größte Segelyacht der Welt

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Italy Seizes Russian Oligarch Melnichenko's $578 Million Yacht

Italian police have seized a superyacht from Russian billionaire Andrey Igorevich Melnichenko, the prime minister's office said on Saturday, a few days after the businessman was placed on an EU sanctions list following Russia's invasion of Ukraine.

The 143-meter Sailing Yacht A , which has a price tag of $578 million, has been sequestered at the northern port of Trieste, the government said.

Designed by Philippe Starck and built by Nobiskrug in Germany, the vessel is the world's biggest sailing yacht, the government said.

Melnichenko owns major fertilizer producer EuroChem Group and coal company SUEK.

Last week Italian police seized villas and yachts worth $156 million from five high-profile Russians who have been placed on the sanctions list.

The police operations were part of a coordinated drive by Western states to penalize wealthy Russians linked to President Vladimir Putin.

Reuters is a news agency founded in 1851 and owned by the Thomson Reuters Corporation based in Toronto, Canada. One of the world's largest wire services, it provides financial news as well as international coverage in over 16 languages to more than 1000 newspapers and 750 broadcasters around the globe.

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Check Out This Record-Breaking, Futuristic Superyacht As It's Delivered to Its Russian Billionaire Owner

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https://money.com/check-out-this-record-breaking-futuristic-superyacht-as-its-delivered-to-its-russian-billionaire-owner/

What some are calling the world's most futuristic yacht was spotted Monday as it makes its way to southern Spain where she will undergo further sea trials.

The deceptively named "Sailing Yacht A" is in fact an approximately $450 million, 469-foot vessel with carbon fiber sailing masts 328 feet tall, making it the largest of its kind in the world, according to Boat International .

The yacht comes with a helipad, garages for four vehicles, and a submarine, Boat International reported. Its sails unfurl at the press of a button.

It will need a crew of 54 once it is fully operational.

The boat's owner, Andrey Melnichenko, is said to be worth $11.6 billion by Forbes, making him one of the 140 richest people in the world. The 44-year-old reportedly owns coal and fertilizer interests.

The vessel was designed by French designer Philippe Starck, who also produced Steve Jobs' yacht "Venus." Dirk Kloosterman, who helped designLarry Ellison's boat "Rising Sun," was project leader.

Editor's note: This article has been updated to reflect factual corrections, including Melnichenko's age, Kloosterman's role on the project, and the immediate destination of the yacht on Monday.

Insight: Maldives shelters sanctioned Russian billionaires' yachts

• Maldives will not actively pursue yacht seizures - sources
• Fears impact of Russia sanctions on tourism industry - sources
• "Far-fetched" to think yachts will be confiscated

"NOBODY CAN TOUCH THEM"

Delicate diplomacy.

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Reporting by Alasdair Pal and Mohamed Junayd in Male Additional reporting by Sarah Lynch in Washington, Jan Strupczewski in Brussels and Dasha Afanasieva in London Editing by Frank Jack Daniel

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Thomson Reuters

Alasdair leads the team covering breaking news in Australia, New Zealand and the Pacific. Before moving to Sydney, he covered general news in New Delhi, where he reported from the front-line of the coronavirus pandemic in India and the insurgency in Kashmir, as well as extended periods in Pakistan and, most recently, in Sri Lanka covering its ongoing economic crisis. His reporting on Islamic State suicide bombings in Sri Lanka in 2019 was highly commended as the Society of Publishers in Asia awards. He previously worked as a financial reporter in London, with a particular interest in hedge funds and accounting frauds. Signal app phone number: +61439529540

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