A Dubai-based company linked to billionaire Abbas Sajwani purchased the seized Russian superyacht Amadea in a U.S. government auction [1, 3].
The sale represents a key step in the U.S. Treasury's effort to recover assets from sanctioned Russian oligarchs following the invasion of Ukraine [4, 5].
The Amadea was confiscated by U.S. authorities after its owner was placed under sanctions [4]. While U.S. authorities cited an auction valuation of $325 million [6], the vessel was purchased for $187 million, or 687 million AED [3]. This final price is lower than the yacht's original valuation of more than $300 million [3].
Maintaining the luxury vessel while it remained in legal limbo was a costly endeavor. Reports said the monthly maintenance cost reached $1 million [1]. The yacht is known for its luxury features, including eight state rooms, a helipad, a gym, and a spa [6].
Reports on the identity of the buyer have varied. Business Insider said the new owner's identity was not disclosed [2], while Arabian Business said the buyer was a company linked to Abbas Sajwani [3].
The vessel's seizure was part of a broader campaign by the U.S. to target the mobile assets of sanctioned individuals [5]. By auctioning these luxury items, the government aims to convert seized property into liquid funds for the Treasury [4].
“The vessel was purchased for $187 million, or 687 million AED.”
The significant gap between the $325 million auction valuation and the $187 million sale price highlights the difficulty of valuing and liquidating hyper-luxury assets under sanction. Furthermore, the transfer of the vessel to a Dubai-linked entity underscores the role of the UAE as a primary hub for high-net-worth individuals and corporate entities seeking to acquire distressed global assets.
