The 300-foot Royal Romance superyacht confiscated from Putin ally Viktor Medvedchuk will be auctioned off to raise money in support of Ukraine.
Since thein February, sanctions against oligarchs close to Russian President Vladimir Putin have been used as a tool to put pressure on Russia. Assets affected thus far have included yachts, luxury planes and lavish residences throughout the world.
The Ukrainian Asset Recovery and Management Agency said that it would"preserve the economic value [of the yacht] by selling it at auction." The oligarch was first detained in April in a special operation carried out by Ukraine’s state security service, or the SBU. Though he was charged with treason last year, Medvedchuk escaped from house arrest within days of hostilities breaking out on Feb. 24 in Ukraine.
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