The U.S. Is Selling a Russian Oligarch’s Floating Palace

The U.S. Justice Department has put the Amadea, a 348-foot luxury yacht once valued at $350 million, up for auction in a sealed sale that closes this week.

The vessel, which boasts an infinity pool, helipad, private cinema, and eight lavish staterooms, was seized in 2022 by the DOJ’s KleptoCapture task force as part of sanctions enforcement against Russian oligarchs following the invasion of Ukraine.

A federal judge in March awarded the yacht to the U.S. government after finding that Russian billionaire Suleiman Kerimov, who faces American sanctions, was its true owner despite claims by other parties.

Prosecutors allege Kerimov used the U.S. financial system to cover the yacht’s expenses, violating sanctions. Rival claimant Eduard Khudainatov has appealed, warning that any buyer could face years of litigation abroad.

The Amadea has already cost U.S. authorities more than $32 million in maintenance and storage since its seizure. Researchers estimate its current value between $80 million and $120 million, far below its original price tag.

With only a handful of ultra-wealthy individuals able to afford it, the auction is being closely watched as both a test of U.S. sanctions enforcement and a symbol of the risks tied to seizing and reselling oligarch assets.