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US spends $1 million a month on impounded Russian luxury yacht

US spends $1 million a month on impounded Russian luxury yacht

The U.S. government is spending nearly $1 million to maintain a luxury yacht seized from a sanctioned Russian oligarch as part of the Justice Department's effort to pressure the Kremlin.

Put pressure on those close to Putin

The 348-foot Amadea was one of the first trophies claimed as part of a task force's effort to hold Russians close to the Kremlin accountable. US prosecutors allege that the ship's owner, Suleiman Kerimov, made his fortune in gold by using the US banking system to cover expenses.

Maintenance at sea

Now, federal prosecutors have asked a judge for permission to sell the ship, saying its costs are too high and will cost the government about $20 million, according to recent court records.

Values ​​at stake

Monthly costs to maintain the boat are about $600,000 and $144,000 in insurance, according to court records. With occasional fees to cover dry-docking costs, this adds another $178,000 per month, bringing the total bill to $922,000 per month.

Legal struggle

Eduard Kudaynatov and Millemerin Investments offered to claim the superyacht. They objected to the sale and said the judge should not allow it until their motion to dismiss the civil forfeiture complaint is decided.

Adding to the bill for maintaining the ship, a decision on that motion could take months, lawyers said.

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