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Yacht remains seized while dispute continued
The Court of Justice of the European Union has confirmed that the "Sailing Yacht A," impounded since March 2022, remained under Italian control for the time being, while the dispute concerning sanctions against its owner, Andrey Melnichenko, continued. Annual maintenance costs, amounting to approximately ten million euros, were being covered by the Italian state. The Court ruled that the concepts of "ownership" and "control," within the framework of EU sanctions, also applied to beneficiaries of trust funds, even if they could not directly dispose of the assets. The yacht has been moored in Trieste since March 2022, after being seized by Italian authorities as part of EU sanctions against Russia. The yacht's estimated value was around 450 million euros. In May 2024, the Regional Administrative Court of Lazio in Rome referred the case to the Court of Justice of the European Union seeking clarification. The central question was whether assets held through complex trust structures fell under the sanctions. The owning company argued that control of the yacht had been transferred, prior to the application of the sanctions, from a trust fund belonging to Melnichenko to a trust fund belonging to his wife. Both trust funds were subsequently sanctioned. The Court clarified that evidence of ownership or control by the beneficiary or settlor could be inferred from factual circumstances or unnecessarily complex legal structures. The decision of the Court of Justice of the European Union did not constitute a final ruling in the ongoing proceedings. The Lazio District Court continued its examination of the case in light of this clarification. The seizure was to remain in effect until a final decision has been reached.
Melnichenko-yacht remaines unter adminitrative freeze
The 'Sailing Yacht A' remains seized and anchored off Trieste for more than three years. The vessel remains under administrative freeze after being seized by Italy’s Guardia di Finanza in March 2022 under EU sanctions against Andrey Melnichenko, who owned two companies, the fertilizer producer EuroChem Group and the coal company SUEK, because of Russia's invasion of Ukraine. The authorities believed Melnichenko's connections to the Russian government were strong enough to warrant the seizure. The vessel burns roughly 5,500 liters of diesel every day.. Because the yacht is anchored offshore, it cannot plug into shore power. Its generators therefore run continuously, supplying electricity to run the air conditioning, onboard stablizers, security, and crew operations. Over the course of a year, this equates to nearly 1,700 metric tons of carbon dioxide emissions. With a permanent crew of 20, systems that are normally taken for granted, air conditioning, lighting, and water, operate around the clock. The yacht’s climate control and humidity management system alone draws continuous power to protect its finely finished interiors from condensation and mold. Zero-speed stabilizers, designed to keep the yacht steady even without propulsion, remain active at all times to ensure safety and prevent excessive rolling in the swell. The refrigeration and galley plant, with multiple walk-in cold rooms and freezers, supports the live-aboard crew. Watermakers convert seawater into fresh water for daily use, while wastewater treatment units run continuously to meet environmental discharge regulations. The constant hum of safety, fire detection, and security systems, plus lighting, entertainment networks, and hydraulic packs is also consuming energy. The yacht now functions like a stationary power plant. The city’s mayor recently expressed his frustration with the maintenance cost of the luxury vessel, which is close to $1 million per month. For local authorities, the yacht is not only a financial headache but also a floating reminder of how the ripples of geopolitics extend far beyond the headlines, leaving both environmental and economic costs in their wake. Report with photo: https://www.thecooldown.com/green-business/reddit-sailing-yacht-a-italy/
Russian billionaire Andrej Melnitschenko lost a lawsuit
The "Sailing Yacht A" has been moored off the Italian Adriatic port of Trieste for exactly three years. The owner therefore took the matter to the European Court of Justice. The Russian billionaire Andrej Melnitschenko filed a lawsuit against his yacht being arrested by EU sanctions. Since Melnichenko is considered to be part of the extended circle of Russian oligarchs who profit from the war and from Russia's state trade, the ship was detained on March 11, 2022, with reference to the sanctions imposed by the EU. Since then, the oligarch has been fighting from Switzerland for the return of his yacht. On Jan 22, 2025, he suffered a defeat in a lawsuit before the First Chamber of the European Court of Justice. He had sued for the return of the property because, in his view, there was no evidence of his ownership of the Russian companies EuroChem and the coal company Suek. He had also previously transferred the "A" to his wife Aleksandra. The yacht's registration was changed from Bermuda via the Isle of Man to Gabon. However, the court in Luxembourg did not accept Melnichenko's arguments. Melnichenko's lawyers had referred to property rights, the right to respect for private life and errors in the assessment of the sanctions list. The court, however, followed the EU's view because there are enough accessible press articles and company websites in Russia in which the oligarch is listed as the owner of the companies. The trigger for inclusion in the sanctions list was participation in a meeting with Russian President Vladimir Putin himself. On February 24, 2022, the plaintiff met with Putin and other members of the Russian government along with 36 businessmen to discuss the effects of the Western sanctions, thereby clarifying his role as a member of Vladimir Putin's inner circle. The 16-page judgment states that Melnichenko was included in the lists because he is "a Russian industrialist who owns the leading fertilizer producer EuroChem Group and the coal company Suek." Even the transfer of ownership shares in the yacht and companies to his wife Aleksandra does not change the sanctions, as he continues to benefit from the assets he transferred to his wife, according to the judgment. The "Saling Yacht A" therefore remains under the direct control of the Italian state, which is also responsible for its maintenance. Italy has spent around 27 million euros on this over the past three years.
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