Superyacht Seized in Spain as Sanctioned Owner Stops Fees

Vessel has been linked to Russian defense executive ChemezovVessel has been linked to Russian defense executive Chemezov

A Spanish court moved to seize a superyacht valued at $140 million that’s linked to a senior executive at a Russian defense conglomerate, after the owner stopped paying maintenance fees in June.

The court order to seize the 85 meter (279 feet) Meridian A -- formerly called Valerie -- was handed down by a Barcelona judge on Wednesday, according to the Spanish maritime authorities.

The vessel, linked to Rostec State Corp.’s chief executive officer, Sergey Chemezov, was immobilized in mid-March by Spanish authorities while it was at a Barcelona shipyard for repairs. The European Union considers the vessel is formally owned by the stepdaughter of Chemezov.

The court decision comes after the MB92 shipyard lodged a complaint when the vessel’s maintenance fees went unpaid.

Yachts owned by sanctioned businessmen have been immobilized in ports or naval yards across Europe in the aftermath of Russia’s invasion of Ukraine. That includes the blocking in Germany of Dilbar -- tied to billionaire Alisher Usmanov -- and French authorities’ move to prevent a possible swift departure of the Amore Vero. 

Sourse: Bloomberg