It is said that to be rich enough to own one yacht, you have to be able to own ten yachts. The U. S. government is learning this lesson the hard way and is now looking to allow the sale of one of those devices that belonged to the sanctioned Russian oligarch. Suleiman Kerimov because it costs taxpayers about $1 million a month.
The more expensive a yacht is, the more it costs to keep it in your possession, and Kerimov’s ship, known as the Amadea, is one of the most expensive yachts in the world, costing around $300 million. It was seized by the government in May 2022 and has been docked in San Diego since the following month, and court records now reveal the hefty bill to keep it that way: $600,000 in so-called “running prices,” plus maintenance, fuel, and $360,000 to pay the hired crew. Then there is another $144,000 for prorated insurance and $178,000 for burial docks and other expenses. In total, the U. S. Department of Justice says it charges Amadea up to $922,000 per month. The dossier continues:
“It’s a stretch for taxpayers to pay close to $1 million a month to Amadea when those expenses can be reduced to 0 through a sale. “
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The procedure by which a seized yacht can be sold is legally complex, and prosecutors would have to prove Kerimov’s direct ownership of the yacht before they could sell it. But CNBC reports that some other Russian businessman, who has not been sanctioned through any foreign authority, claims to be the owner of the yacht. And lawyers for the man, Eduard Khudainatov, have opposed a rushed sale of the device in court on the grounds that this could reduce the sale price, also arguing that monthly maintenance prices of about $1 million paltry compared to its potential sale value.
However, Khudainatov’s lawyers have refused to pay those maintenance costs, stipulating a refund of the more than $20 million the government has paid so far, on the condition that the cash be returned to its supposed rightful owner. So Khudainatov’s offer has not been accepted and probably won’t be.
Even if the government ends up promoting Amadea, the proceeds from the sale would have to be withheld until the matter between the Ministry of Justice and Kerimov is resolved. And then the money would go to Ukraine’s war effort.
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