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Russian billionaire Andrej Melnitschenko lost a lawsuit

The "Sailing Yacht A" has been moored off the Italian Adriatic port of Trieste for exactly three years. The owner therefore took the matter to the European Court of Justice. The Russian billionaire Andrej Melnitschenko filed a lawsuit against his yacht being arrested by EU sanctions. Since Melnichenko is considered to be part of the extended circle of Russian oligarchs who profit from the war and from Russia's state trade, the ship was detained on March 11, 2022, with reference to the sanctions imposed by the EU. Since then, the oligarch has been fighting from Switzerland for the return of his yacht. On Jan 22, 2025, he suffered a defeat in a lawsuit before the First Chamber of the European Court of Justice. He had sued for the return of the property because, in his view, there was no evidence of his ownership of the Russian companies EuroChem and the coal company Suek. He had also previously transferred the "A" to his wife Aleksandra. The yacht's registration was changed from Bermuda via the Isle of Man to Gabon. However, the court in Luxembourg did not accept Melnichenko's arguments. Melnichenko's lawyers had referred to property rights, the right to respect for private life and errors in the assessment of the sanctions list. The court, however, followed the EU's view because there are enough accessible press articles and company websites in Russia in which the oligarch is listed as the owner of the companies. The trigger for inclusion in the sanctions list was participation in a meeting with Russian President Vladimir Putin himself. On February 24, 2022, the plaintiff met with Putin and other members of the Russian government along with 36 businessmen to discuss the effects of the Western sanctions, thereby clarifying his role as a member of Vladimir Putin's inner circle. The 16-page judgment states that Melnichenko was included in the lists because he is "a Russian industrialist who owns the leading fertilizer producer EuroChem Group and the coal company Suek." Even the transfer of ownership shares in the yacht and companies to his wife Aleksandra does not change the sanctions, as he continues to benefit from the assets he transferred to his wife, according to the judgment. The "Saling Yacht A" therefore remains under the direct control of the Italian state, which is also responsible for its maintenance. Italy has spent around 27 million euros on this over the past three years.

Maintenance of seized Russian yacht has cost Italiy seven million Euro to date

The owner of the 'Sailing Yacht A', which was seized by the Italian police and placed in a special dry dock at the northern port of Trieste in March 2022, the Russian billionaire Andrey Igorevich Melnichenko, did not claim ownership, leaving the Italian government and a team of foreign lawyers representing the company that owns the yacht warring. While the legal battle concerning the largest sailing yacht in the world ensued, the $580 million asset also had to be maintained. The upkeep of the ship is excessively expensive. The vessel has been maintained by a crew of about 20 men for over a year now, with expenses borne by the Italian State. In expert opinion, this gargantuan asset is setting Italy back by a minimum of $900,000 per month. To date it has cost the State over seven million Euros. If the yacht is returned to the owner,he can repossess it only after paying the maintenance costs incurred by Italy. The situation is risky as it involves a hefty bill.

Detained oligarch yacht berthed at Fincantiri Yard

The 'A' of the Russian oligarch Andrey Igorevich Melnichenko has returned to the shipyard in Fincantieri in Trieste on Sep 14. The items indicated that the assembly work on the third shaft, which was dismantled a few months ago, is necessary.