A $120 million Russian yacht, seized on behalf of U.S. interests as part of the sanctions imposed from the war in Ukraine, is costing the Caribbean dual-island nation of Antigua and Barbuda - which sports a GDP of $1.8 billion - roughly $28,000-a-week to maintain.
A $120 million Russian yacht, seized on behalf of U.S. interests as part of the sanctions imposed from the war in Ukraine, is costing the Caribbean dual-island nation of Antigua and Barbuda — which sports a GDP of $1.8 billion — roughly $28,000-a-week to maintain, The Wall Street Journal reported Monday.
Soon, Antigua and Barbuda's government, the Journal continued, "decided to pass emergency legislation to seize the vessel, auction it, pay off maintenance expenses and keep the staff on board, retaining the surplus for the country's treasury. The government of Antigua petitioned the US Treasury to allow the boat to be sold, a move the US took in June."
And it's not just an island in the Caribbean that's having issues selling off sanctioned Russian assets; in Italy, last year, the Scheherazade, one of the world's largest and most expensive yachts, with alleged ties to Russian oligarchs which may even link to Russian President Vladimir Putin himself, is leaving a $690 million question for how to manage it after it was sanctioned.
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