It has the tallest free-standing masts in the world, a glass observation deck in the keel, eight decks, a huge swimming pool and a sail area the size of half a football field – but its owner, Russian oligarch Andrei Melnichenko, wants the mega yacht “Sailing Yacht”. A” conceived as a simple houseboat.
The lawyers for the fertilizer magnate are currently trying to reclassify the yacht – probably with the aim that the very wealthy owner can sail the floating luxury temple again despite the sanctions imposed on him.
Melnichenko’s fortune is estimated at $ 27.5 billion (nearly $ 26 billion), but the oligarch has a big problem: the sanctions imposed by the West allow him to use his yacht, which is often referred to as “A” for short. , do not expire. The 143 meter long ship was chained up after the outbreak of the war. With an estimated value of 530 million euros, this is certainly a painful measure even for a billionaire.
Many Russians just want to own a houseboat
Now Melnitschenko apparently wants to find a loophole to be able to use his mega yacht again – or at least pay less tax. The “A” is reclassified as a simple houseboat. Other oligarchs follow this strategy as well. Many are trying to re-mark and register their luxury yachts in Russia-friendly countries.
Oligarch wants nothing to do with hunting
Like most Russian billionaires, Melnichenko denies even owning the yacht. According to Forbes magazine, a spokesperson claimed that the ship had nothing to do with the oligarch and that it belonged to a trust company with which the oligarch had no connection. However, the authorities cannot believe this account.
Now the “A” was registered in Sierra Leone, previously she sailed under the flag of the British Isle of Man. After the flag change, she is considered a houseboat and no longer a yacht or sports vessel – which puzzles lawyers and authorities. That downgrade would only make sense if the ships are “completely dismantled and physically unable to move,” said London-based yacht lawyer Benjamin Maltby. However, it would then “make little sense to register them somewhere”, says the lawyer.
Yacht handed over to wife
Experts therefore suspect that the oligarchs are using this tactic to try to regain access to their luxury yachts and get back out to sea. Moreover, this registration can lead to lower taxes. However, this is conditional on the lifting of the sanctions currently demanded in the case of “Sailing yacht A”.
Of course, Melnichenko himself is not the plaintiff. Instead, the court documents name his wife, to whom the yacht was handed over, who has her official residence in St. Moritz and has never held Russian citizenship. She is a Serbo-Croatian dual national.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
