The USA are going to court to prove that sanctioned billionaire Suleiman Kerimov is the real owner of the 'Amadea'. The yacht, which costs US taxpayers almost $750,000 a month to maintain and insure, is being held in custody in San Diego while the legal proceedings are ongoing. The legal battle stems from the work of the Justice Department's KleptoCapture task force, which targets assets including yachts, planes, and luxury real estate of wealthy Russians who have been sanctioned over the invasion of Ukraine. The US, UK, and EU have imposed sanctions on oligarchs and others accused of helping the Kremlin. The United States claims that Amadea is owned by Kerimov, the 17th richest man in Russia, with a net worth of about $9.3 billion. But Eduard Khudainatov, the former head of Russia's oil producer Rosneft, claims he is the real owner. Lawyers for Khudainatov and his Millemarin Investments claimed that he spent $232 million to build the yacht and that it has belonged to him all along. The Ministry of Justice argues that Khudainatov is only a fake owner designed to conceal Kerimov's ownership of the yacht and has no legal grounds to complain about what is happening to it. The US District Judge Dale Ho is holding a hearing this week on the Khudainatov case and the question of who owns the yacht. In the government's opening statement, Justice Department lawyer Rachel Dowd told that the evidence would show that Khudainatov ordered the 'Amadea' and then sold it in 2021 to Kerimov through intermediaries, after which the Kerimov family used the yacht exclusively. The crew recognized the Kerimovs as the owners and the family had plans to refit the vessel. If the United States fails to confiscate the yacht, the cost of its maintenance will be lost. So far, the government has not been able to get court approval to sell the ship and avoid financial risk. Adding the $5.6 million in dry-dock repairs that the US planned to carry out last year, the total cost to taxpayers was about $20 million, according to a US statement in 2024, and is now closer to $30 million. The costs represent only a small fraction of its value and are not unusual for such a yacht. When the 'Amadea' was arrested, the US estimated its value at $300 million or more. An independent appraiser estimated its fair market value at $230 million.
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AL HUSSEIN
Sold/Decommissioned
The fomer 'Seatruck Pace' has been renamed 'Al Hussein' and changed flag to the Jordanian flag on Jan 20, 2025, in the port of Liverpool. The ship has been sold to the Arab Bridge Maritime and operate in the Middle East. The 'Seatruck Point' is also expected to be sold.
