Russian oligarch seized Superjaht sold at auction

This is the first sale of the seized assets of Russian oligarchs since Moscow began its unprotested invasion of Ukraine on February 24th.

Howe Robinson Partners, who supervised the auction, said on August 23rd there were 63 bids for the purchase of the 72.5m superychtite, “Axioma”, which was seized by Pumpyansky.

Pumpyansky is a close associate of Russian President Vladimir Putin. The yacht was seized after the sanctions were imposed by Britain, the United States and the European Union.

The winning bid and the name of the new owner has not been made public. The sales details will be made public in two weeks.

Jahti “Axioma” was seized by the government of Gibraltar after legal claims by the American investment bank, JP Morgan, who said that Pumpyansky's company, Pyrene Investments, owed the bank more than $20m.

JP Morgan later asked Gibraltar courts to secuesture and then sell the yacht, arguing that Pumpyansky was subject to sanctions.

Pumpyansky has been the owner and director of steel pipe producer OAO TPC, the world's largest producer. Also, this company is the main supplier of Russian state energy company Gazprom. He left the company's direction following sanctions imposed in March.

The US and the EU have imposed sanctions on Russian oligarchs following the start of the invasion of Ukraine.

Western countries have seized property, super-sided and aircraft of Russian billionaires linked to Putin.