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Date Published: 22/03/2022

ARCHIVED - 72-metre yacht belonging to a Russian billionaire seized in Gibraltar

ARCHIVED ARTICLE

Authorities in the Gibraltar port have detained luxury yacht belonging to a Russian magnate on the EU and UK sanctions list

<span style='color:#780948'>ARCHIVED</span> - 72-metre yacht belonging to a Russian billionaire seized in Gibraltar

Gibraltar authorities detained a luxury yacht yesterday as it docked in British Gibraltar Territorial Waters. The 72-metre yacht ‘Axioma’ is believed to be owned by Russian billionaire businessman Dmitry Pumpyansky.

Mr Pumpyansky is the chairman and owner of TMK, one of the largest steel manufacturing companies in Russia, which makes pipes for the oil and gas industry. He is currently on a list of people sanctioned by the European Union and Great Britain.

In a statement, a spokesperson from the Gibraltar Government confirmed that the Axioma had asked permission to dock in the port, and on its arrival “was confirmed to be the subject of an arrest action by a leading international bank in the Supreme Court of Gibraltar”.

Without going into detail about any specific legal claims from creditors against either Mr Pumpyansky or his boat, the statement added, “The vessel is now subject to arrest by the Admiralty Marshal until further order”.

Despite having a Russian owner, the Axioma flies a Maltese flag and the official owner is a British Virgin Islands holding company called Pyrene Investments, of which Mr Pumpyansky is a beneficiary.

Image 1: Pixabay

Image 2: Wikimedia commons

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