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Superyacht

10 days ago

U.S. Taxpayers Foot $1 Million Monthly Bill for Confiscated Russian Oligarch's Luxury Yacht

Benzinga
Benzinga
A luxury Yacht owned by sanctioned Russian oligarch Suleiman Kerimov and confiscated by the U.S. costs taxpayers nearly $1 million in monthly maintenance costs. The Justice Department wants permission to sell the yacht to avoid these "excessive costs" totaling $922,000 monthly. Monthly costs include $600,000 for running expenses, $360,000 for the crew, and $144,000 for insurance. Kerimov, an ex-Rosneft CEO, is contesting the seizure and proposed sale in court.