Superyacht linked to Russian oligarch Usmanov can no longer be a frozen asset, court says

A court in Germany has ruled that the Dilbar superyacht, linked to the family of Russian oligarch Alisher Usmanov, is no longer considered frozen under the EU sanctions regime.

This was reported by Business Censor, citing Bloomberg and the decision of the court in Frankfurt.

The court also allowed the ship repair company servicing the yacht to claim compensation for long-term maintenance.

In the decision, the court notes that it is impossible to establish the ultimate beneficiary of the trust that owns the vessel, so there is no reason to consider the yacht subject to sanctions. At the same time, the authorities were unable to prove that Usmanov has legal control over this trust.

The lawsuit was filed after Usmanov’s sister, who is the main beneficiary of The Sister Trust (the owner of the yacht), was removed from the EU sanctions list. The court also ruled that the name of the trust itself is not sufficient evidence of a connection to Usmanov.

USM previously reported that a Putin-linked superyacht turned on its AIS for the first time in nearly four years and passed through the Danish Straits.

USM also reported that Ukraine plans to share with Croatia the proceeds from the upcoming sale of the seized yacht Royal Romance belonging to sanctioned Viktor Medvedchuk.