russian yacht manufacturers

Founded in 2003

Timmerman Yachts is a Russian builder of quality luxury motor yachts. Based in Moscow, it is owned by a group of Dutch and Russian investors and operates out of Moscow Shipyard. Several noted naval architecture and yacht design firms are involved with Timmerman, including Vripack, Guido de Groot Design, Ginton Naval Architects, Jon Bannenberg Ltd., and Francis Design Ltd.

Founded in 2003, the company was named for 17th century Dutch boat builder Franz Timmerman who brought Dutch boat manufacturing techniques to Russia and co-founded the Russian navy. Timmerman Yachts has more than 1,000 employees working at the Moscow Shipyard.

Timmerman has delivered a number of semi-custom luxury yachts between 26-47 metres in length, including TM26 and Timmerman FD-51, designed by Francis Design Ltd. Other notable Timmerman yachts include Victoria M, Alexandra (now Latitude) and Olsten 125′.

One of the 10 largest yacht builders in the world, Timmerman is focused on building high-quality luxury yachts at more competitive prices. Its Russian-Dutch partnership provides great yacht-building capabilities. Timmerman builds yacht to the highest standards and holds DNV, MCA and Russian River Register certification. The company reportedly has more than a dozen yachts in some phase of construction.

Yachts built by Timmerman

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Photos show the luxury mega yachts that belong to Russian oligarchs — some of whom have hidden their ships as the UK ramps up sanctions.

• Sanctions targeting Russian oligarchs threaten their luxury assets — including their mega yachts.
• Many countries have implemented sanctions targeting Putin and Russian oligarchs following Russia's attack on Ukraine.
• Insider compiled a photo list of some of the luxury vessels.

Russian billionaires' assets — including their megayachts — are in danger of being seized as countries continue to impose sanctions on Russian oligarchs in response to Russia's invasion of Ukraine.

US President Joe Biden announced that the US will make a substantial effort to seize Russian oligarchs' assets.

"We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets," Biden said in his State of The Union address on March 1. "We are coming for your ill-begotten gains."

Since the US is not in "armed conflict" with Russia it may be legally tricky to seize assets like yachts, Insider reported . 

"The threshold for seizing assets under sanctions is that the US has to be in armed conflict with the owner of the assets," Brian O'Toole, an economic sanctions expert, tweeted last Friday. "The idea of turning Russian corruption into Ukrainian assistance is lovely but this idea is illegal, period."

It can also be difficult to find out who the owners of these yachts are.

Offshore companies typically own the luxury vessels, but enough "public speculation" pointing to a Russian oligarch as an owner is likely "sufficient for a seizure," Insider reported . 

Many of the oligarchs moved their yachts to places where they can't be seized, such as the Maldives, which does not have an extradition treaty with the US.

Insider has compiled a list of photos with mega yachts linked to Russian oligarchs.

Galactica Super Nova

Amid sanctions and seizures targeting Russian billionaires, Galactica Super Nova — said to be linked to the CEO of Russian oil firm Lukoil — is no longer detectable via ship tracker site MarineTraffic , The Daily Beast reported Thursday. 

The superyacht — whose owner is named Vagit Alekperov — had just been in Montenegro last week, Insider reported .

Alekperov is not currently the target of any sanctions. 

The yacht is almost 230 feet long and can hold up to 12 guests and 16 crew members, according to the ship maker Heesen Yachts .

The ship also has a helicopter pad that can turn into an outdoor movie theatre, also according to the ship maker.

The Amore Vero

France seized Amore Vero, a 281-foot megayacht linked to oligarch and politician Igor Sechin, on March 3.

The yacht, Amore Vero, is estimated to have a value of $120 million . It has a swimming pool that doubles as a helicopter pad and a private deck for its owner, according to Oceana , the ship maker.

Per The Wall Street Journal , officials believe that Amore Vero is "owned by a company whose majority shareholder was Mr. Sechin," though the outlet does not provide the name of the company.

Sechin is the CEO of Rosneft, Russia's oil giant, and a former deputy prime minister. A known Putin ally , he was sanctioned by both the EU and the US before France seized his yacht last week .

Sechin was one of seven oligarchs sanctioned by the UK on Thursday. 

People in Russia have referred to Sechin as "Darth Vader" and "the scariest man on Earth," according to The Guardian .

Alisher Usmanov has been sanctioned by the EU, the US, the UK, and Switzerland. His boat remains in Germany, but the country says it hasn't seized it.

Usmanov's Dilbar is "is the largest motor yacht in the world by gross tonnage," according to Lürssen , the German ship's maker.

It's 512-foot long and weighs 15,917 tons. The ship has been docked in Germany for months undergoing a "refitting," but last week Forbes reported that it was unable to leave the dock.

Germany, however, has denied that it formally seized Dilbar.

Forbes said that "the German federal customs agency is the 'responsible enforcement authority' and would have to issue an export waiver for the yacht to leave, and that 'no yacht leaves port that is not allowed to do so.'" 

Still, multiple outlets reported that Usmanov has fired the crew on the Dilbar.

The Uzbekistan-born oligarch is a supporter of Putin. 

"I am proud that I know Putin, and the fact that everybody does not like him is not Putin's problem," Usmanov told Forbes  in a 2010 interview. 

Suleyman Kerimov was sanctioned by the US, and his son, Said Kerimov, owns ICE. The superyacht is worth is an estimated $170 million.

The Kerimov family owns the majority of Polyus Gold, Russia's biggest gold producer .

ICE was dubbed "Superyacht of the Year" in 2006 at the World Super Yacht Awards, according to Boat International . It is approximately 300 feet and has its own resident helicopter, according to Club Yacht .

Quantum Blue

Sergey Galitsky's ship, Quantum Blue, has an estimated value of $250 million and is last known to be docked in Monaco.

Galitsky is the founder of one of Russia's largest supermarket chains, Magnit.

His name is not currently on the list of sanctioned Russian oligarchs,

Though he also is not the target of any current sanctions, Vladimir Potanin's superyacht, Nirvana, is one of at least four ships docked in the Maldives .

Potanin is the Former First Deputy Prime Minister of Russia and was a longtime trustee for the Guggenheim museum before stepping down on March 2, according to The New York Times . 

Nirvana is not Potanin's only superyacht, he also owns another named Barbara, according to Fortune .

Alexander Abramov's Titan, Alexei Mordashovis' Nord, and Oleg Deripaska's Clio are also located in the Maldives.

At 533 feet long, Roman Abramovich's Eclipse was the largest yacht on the globe until 2013 when the 590-foot Azzam overthrew it. 

Abramovich, once Russia's richest man , is the departing owner of Chelsea FC soccer club. He was sanctioned by the UK on Thursday along with six other oligarchs, Insider reported .

The luxury boat has a host of amenities, including two helicopter pads, a missile detection system, and a swimming pool more than 50 feet long. It also has space for up to 36 guests and 70 crew members, according to Yacht Harbour .

Insider previously reported that it is currently docked in the Caribbean .

Another yacht named Solaris is linked to Abramovich. The vessel, worth approximately $600 million, left Spain Tuesday after having been under repair since late 2021, Insider reported.

Solaris is 460 feet and can host a total of 36 guests, according to SuperYachtFan .

Tango, owned by the US-sanctioned Viktor Vekselberg, is currently located in Palma, Spain.

Tango can host up to 14 people and is 254 feet long, won the 2012 World Superyacht Awards, and has an estimated worth of $120 million, according to SuperYachtFan .

Vekselberg is a Ukrainian-born businessman who owns Renova, a Russian conglomerate, according to The Guardian .

He was one of nearly two dozen Russian oligarchs and officials that the US sanctioned on Friday.

The US Treasury Department claims that he has close ties with Putin, and has announced that assets such as his $90 million jet and his superyacht Tango have been frozen, Insider reported .

Graceful, a yacht reported to belong to Russian President Vladimir Putin, left Germany just before his invasion of Ukraine, Insider reported in early February.

—Manu Gómez (@GDarkconrad) February 9, 2022

Graceful is 270 feet long and has a saloon, gym, spa, library, and an indoor pool nearly 50 feet long that doubles as a dance floor.

Scheherazade

A mystery yacht remains untouched as the owner remains a mystery.

The owner of the 459-foot Scheherazade is suspected to be a Russian billionaire, though the owner was never publically identified, The New York Times reported .

Many people believe it belongs to Vladimir Putin, nicknaming the vessel "Putin's Yacht."

SuperYachtFan estimates the ship's value sits at $700 million.

Stella Maris

Stella Maris is linked to oil and gas tycoon Rashid Sardarov. It was last seen in Nice, France, according to The Washington Post .

The luxury vessel is priced at $75 million, is 237 feet long, and can hold up to 14 guests, per SuperYachtFan .

Sardarov is not being sanctioned. 

Sailing Yacht A

Sailing Yacht A is believed to belong to Andrey Melnichenko. The boat was seized by Spanish officials Saturday, Reuters reported .

The ship is more than 465 feet long and can hold up to 20 guests, according to SuperYachtFan . The website says that Sailing Yacht A also features an underwater observation area and has a value of more than $500 million.

Melnichenko is an EU-sanctioned Russian billionaire who works in coal and fertilizers, according to Forbes . The magazine also reported that he owns a second yacht, Motor Yacht A, which is similar to a submarine. 

Oligarch Gennady Timchenko's superyacht "Lena" was seized in the port of Sanremo, Italy on March 5, Reuters reported.

Timchenko is the owner of a private investment group, Volga Group and a shareholder of Bank Rossiya. The oligarch has been sanctioned by the EU, which describes him as a "long-time acquaintance of the President of the Russian Federation Vladimir Putin."

Timchenko was also sanctioned by the UK on February 22. 

The superyacht is valued at around 50 million euros ($54 million), Reuters reported. It has fold-down terraces, as well as an "owner's suite" which opens out onto the sea with "gull-wing doors," according to its manufacturer, Sanlorenzo.

Italian authorities also seized a $71 million super-yacht belonging to one of the wealthiest men in Russia , Alexei Mordashov. 

The 215-ft "Lady M" superyacht was seized in the Port of Imperia, northern Italy, a source confirmed to Reuters.

The yacht can accommodate up to six guests on and also has accommodation for four crew members, per the Superyacht Times .

The oligarch, who is the chairman of steel mining company, Severstal, has also been sanctioned by the EU, which says Mordashov is "benefiting from his links with Russian decision-makers." Mordashov has insisted he has "absolutely nothing to do" with Russia's attack on Ukraine. 

The Oligarch moved $1.3 billion worth of shares in travel company, TUI, to an offshore tax haven on the day he was hit by sanctions, Insider's Huileng Tan previously reported. 

He was also added to the UK government's sanctions list on March 15.

Some superyachts belonging to Russian billionaires are currently seeking refuge in the Maldives, including a yacht owned by billionaire Oleg Deripaska, Reuters reported.

The billionaire, who is also the founder of one of Russia's largest industrial groups, Basic Element, was added to the UK's sanctions list on March 10.

Also built by Lürssen, the superyacht - which is around 238 feet long - can accommodate 18 guests in nine cabins, per Superyacht Fan.

The superyacht Valerie - worth $140 million - was seized in Barcelona on Monday, Spanish Prime Minister, Pedro Sanchez, said on La Sexta television, per Reuters.  

Sanchez did not confirm the owner of the yacht, but two sources confirmed to Reuters that it belonged to Sergei Chemezov, who is said to be a close ally of Putin.

The oligarch, who was previously a KGB spy with Putin in the former Soviet Union, recently said that Russia would emerge victorious from Western sanctions, Reuters previously reported . 

Chemezov, who is the CEO of Russian defense conglomerate Rostec was added to the US sanctions list on March 3. 

His yacht is 279 feet long and can accommodate 17 guests in eight suites, per Superyacht Fan.

Crescent, most likely owned by Igor Sechin but also rumored to belong to Putin, was the third yacht Spain seized as the West ramps up sanctions, The Washington Post reported Thursday.

The superyacht is 443-feet long and costs an estimated $600 million, according to  SuperyachtFan, which also says the vessel hosts a retractable helicopter hangar and a large pool with a glass bottom.

Lady Anastasia

Lady Anastasia is owned by Russian oligarch Alexander Mikheyev but was seized by Spain on Tuesday, according to Reuters . 

The boat is almost 160 feet long and can hold up to 10 guests, according to Yacht Harbour .

Mikheyev, who was sanctioned by the EU, is the head of a helicopters division under Rostec, New York Mag reported .

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FEATURE | Russia’s shipbuilding industry: steady growth over three decades

During the heyday of the former Soviet Union, shipyards were scattered all over the various socialist republics. After the collapse of the Soviet Union, Russia lost access to many shipbuilding and ship repair enterprises, and later in the 90s the country lost many competencies in the field of shipbuilding. At present, though, we can say that Russian shipbuilding is entering a revival. Thanks to government support measures, the construction of ships of various classes and uses is in full swing, with high hopes set on the Primorsky Territory-based Zvezda Shipbuilding Complex.

There remain significant challenges, however. Among these are the need to increase local content in the manufacture of marine component equipment, personnel training, and modernisation of local shipyards.

Fleet construction: current situation and prospects

In recent years, the Russian authorities have been taking measures aimed at upgrading the country's commercial fleet and developing the local shipbuilding sector. The results of this economic policy are already evident: local shipyards are being provided with newbuilding orders, which, albeit with some delay, are being completed.

There are 232 vessels currently being built to the Russian Maritime Register of Shipping (RS) class, both in Russia and abroad, with options for an additional 122 ships. Overall, in 2020, Russian shipyards have delivered 116 newbuilds, with 74 being designed for inland shipping including 42 vessels built to RS class. Another 260 vessels are now under construction (192 inland vessels and 68 sea-going ships).

Despite the completion in 2020 of a number of large newbuilding projects that provided the bulk of the shipyards' operating revenue, most of the fulfilled projects had low contract values. The construction of such vessels as barges (11 units), pontoon piers (10 units), pontoons, and floating bridges (five units) does not significantly contribution to civil shipbuilding revenues, it nonetheless eventually help support the economic and social development of entire regions within the Russian Federation.

Export deliveries by the Russian shipbuilding sector as of year-end 2020 totaled US$734.2 million, or an increase of 40.7 per cent compared to 2019. This is remarkable considering the increase in deliveries occurred despite the onset of the Covid-19 pandemic. Russian-built ships and floating assets exported in 2020 were primarily to markets in the EU, which account for 53.5 per cent (US$392 million in export volumes with US$188 million comprising deliveries to customers in Norway and US$91 million to Germany). In addition, a large volume was exported to the Republic of Korea (US$126 million). The Vice-President of the Russian Export Centre (part of VEB.RF Group) said that the total volume of ship and watercraft exports supported by the REC in 2020 reached US$2.6 million.

The completion of Arktika , the world's largest and most powerful nuclear-powered icebreaker, and Viktor Chernomyrdin, the world's most powerful diesel-electric icebreaker, were among the most outstanding achievements of Russian shipbuilding in 2020. For the first time in thirty years, a Russian shipyard has delivered a large capacity trawler, the 86-metre Barentsevo More , and the first ECO series tanker, the 280-tonne Georgy Moskalev , which is designed for operation in the country's inland waterways. Also, Zvezda Shipbuilding Complex made its debut in the Far East shipping trade with the delivery of the country's first Aframax tanker, Vladimir Monomakh , thus demonstrating that Russian shipbuilding enterprises are capable of handling large-tonnage commercial projects that involve assembly of large pre-fabricated sections. Last year, Mustai Karim , the first cruise ship built in Russia during the modern era, set out on her maiden voyage.

Russian shipyards are continuing to build nuclear-powered icebreakers that are unrivaled throughout the world and are among the most highly sophisticated vessels with locally manufactured components. For example, the new Russian-made nuclear reactor RITM-200 was installed on the icebreaker Arktika . In general, the level of domestically manufactured marine components applied in icebreakers of the LK-60 series reaches nearly 92 per cent. There are presently four more LK-60 icebreakers under construction. In the future it is planned to expand the series by two additional ships. Also, the icebreaking fleet in general will also be expanded through the introduction of four medium-powered vessels that will operate on LNG.

However, the most ambitious and significant project is the construction of an even more powerful nuclear icebreaker, named Rossiya . The icebreaker will feature an unprecedented 120 MW of installed power and will be able to sail through ice of virtually any thickness on Arctic shipping routes, including the high-latitude ones. Without a doubt, the icebreaker will become a symbol of pride of the Russian shipbuilding industry. The vessel will be designed to ensure smooth year-round navigation of the country's commercial fleet along the Northern Sea Route. The project will become the basis for a new generation of Russian icebreakers.

In June 2020, Zvezda held a steel-cutting ceremony for this icebreaker. Currently, the shipyard is manufacturing the huge hull sections that will comprise this future vessel, which is scheduled to be completed in 2027.

A large segment of the Russian shipbuilding industry is involved in the construction of fishing vessels. Thanks to the first stage of the state programme of providing investment quotas for catching biological resources in exchange for the construction of a new fleet at Russian shipyards, newbuilding contracts were signed for the construction of 55 fishing and 41 crab catching vessels. The government is currently considering the possibility of implementing the second phase of providing investment quotas per keel, which will be aimed at continuing the renewal of the fleet of the Far Eastern Basin.

At least 30 fishing vessels will be built within the second phase framework, and this number will include 15 large-tonnage vessels as well as commercial transport vessels. This will help modernise the Far East Basin's fishing fleet by 65 to 70 per cent. Although the vessels of the Russian fishing fleet are built to designs developed by foreign naval architecture and marine engineering firms, these projects have to be redesigned to comply to specific RS class requirements. At the same time, work is ongoing to improve safety measures on the entire fishing fleet.

Rosmorrechflot continues to commission the construction of complex multi-functional salvage and search and rescue (SAR) vessels. In 2020, Nevsky Shipyard handed over the 80-metre Beysug , a shallow-draught multi-purpose salvage vessel with a total installed power of 5.2 MW and Arc 5 class notation. The Project MPSV12 vessel was designed by Marine Engineering Bureau (MEB).

The country's shipping sector also has to deal with the renewal of the inland shipping fleet as well as the fleet of mixed river-sea vessels. In this segment, shipowners are also provided with various measures of state support. Dry cargo vessels (17 units delivered), barges, and specialised support vessels remain the drivers of the Russian shipbuilding industry in terms of the number of ships delivered in 2020. In particular, in 2020, Krasnoye Sormovo Shipyard, through contacts with State Transport Leasing Company (STLC), handed over ten dry cargo vessels under the MEB-designed Project RSD59 to various customers. By the beginning of 2021, the shipyard had built and delivered 22 dry cargo vessels under the same series. Krasnoye Sormovo is the leader among domestic shipbuilders in terms of the number of completed Project RSD59 vessels.

In addition, Okskaya Shipyard completed and delivered seven Project RSD59 vessels in 2020. Another 15 sister ships are still under construction.

Nevsky Shipyard (part of United Shipbuilding Corporation) is meanwhile completing the construction of its third Project RSD59 ship, Pola Gali . The shipyard's current orderbook includes five Project RSD59 vessels. Two have already been delivered and are now sailing operationally.

The last year was also a noteworthy one for passenger vessel newbuildings. Vodohod, a local river cruise company, took delivery of the Project PV300 vessel Mustai Karim , proving that such vessels can also be built in Russia. The four-deck ship can accommodate up to 300 passengers and can be compared to a floating five-star hotel. In August 2020, the ship set out on her maiden voyage.

Another story of Russian shipbuilding success is the completion of the Project PV22 Ice Arc 4 class Ro-Pax ferry Admiral Nevelskoy at Nevsky Shipyard. The ship will sail on the ferry route between Sakhalin and the Kuriles. Admiral Nevelskoy was laid down in March 2019 and was completed on budget and on time. The keel for the second Project PV22, Pavel Leonov , was laid in April that same year.

Russia has also been developing high-speed hydrofoil passenger vessels in the years since the collapse of the Soviet Union. Currently, there are two marine engineering firms developing river and marine vessels in this segment: Alexeev's Hydrofoil Design Bureau and Zelenodolsk-headquartered Sea Tech. The serial hydrofoil class vessels are being built at shipyards in Chkalovsk (Valdai-45R, Meteor-120R) and Rybinsk (Vympel, Kometa-120M). The Zelenodolsk firm plans to develop a new series of hydrofoil vessels under the Project Meteor-2020 class while the manufacturing of Olympia-class hydrofoils will be transferred to Khabarovsk Shipyard (KSZ). Overall, eleven Project Valdai-45R vessels have been built to date.

A launching ceremony for the first in a series of four Project Meteor-120R ships was held on August 3, 2021. The vessels were ordered by leasing company Mashpromlizing. United Shipbuilding Corporation (USC) decided to invest RUB6.4 billion (US$89 million) earned at the end of 2020 for the preferential leasing of passenger ships. The list of projects also includes hydrofoil vessels, namely, a pair of Valdai-45R vessels ordered for Yakutia and four vessels of the Meteor-120R design.

Currently, the portfolio of orders of STLC includes six high-speed ships: two Kometa vessels and four Valdai vessels. Subject to state support, STLC is ready to invest more than RUB300 billion (US$4.17 billion) in the construction of more than 300 civil vessels for various purposes. The list includes more than 180 passenger ships, including high-speed vessels.

In addition, Russia has launched the construction of small rigid inflatable boats (RIBs) as SAR support craft and fast crewboats. The Russian market has also witnessed the revival of personal recreational yachts and houseboats. The segment after 2008 has narrowed to almost zero.

Ships of the specialised technical fleet are in great demand and it is project that between 2025 and 2030, Russia will need more than 800 such vessels. These will include 62 dredgers with a capacities of 250 to 700 cbm/hour, 150 hopper barges and AHTS vessels, 164 buoy tenders, 102 deck cargo barges, 81 pushers tugs, 55 floating cranes, 53 survey boats, 34 waste collection ships, 33 bunker barges, 30 quardships, 28 crewboats, 12 floating docks, eight dive support boats, and five bulk oil barges. Rosmorrechflot confirmed that the average age of vessels of the technical fleet nears 38.6 years: vessels under 30 years old make up 19 per cent of the total number while those up to 40 years make up 36.8 per cent, those up to 50 years old comprise 28.8 per cent, and those exceeding 50 years are at 15 per cent of the total.

When speaking about the construction of specialised ships, the construction of four dredgers at Astrakhan region-based Lotos Shipyard is worth mentioning. Rosmorrechflot planned to extend this series of dredgers to 20 vessels to gradually renew the aging fleet operating in its various basin administrations.

Despite the challenges posed by 2020, the year has really become outstanding in terms of the commissioning of unique vessels in Russia.

Construction and modernisation of shipyards

The industry has pinned great hopes on Zvezda Shipbuilding Complex. The state-of-the-art shipyard is capable of building large-tonnage vessels that could not have been built in Russia earlier due to lack of required capacity. Last year, Zvezda delivered Vladimir Monomakh , the first Russian-built Aframax oil tanker, to local owner Rosnefteflot. In January 2021, the 250-metre, 114,000DWT ice class 1A tanker embarked on its maiden voyage. To date, the shipbuilder's backlog of newbuilding orders includes 12 Aframax tankers, 10 of which were ordered by Rosnefteflot.

Zvezda's current orderbook includes over 50 vessels. These include ships with a displacement of up to 350,000 tonnes, offshore drilling rigs, nuclear-powered icebreakers, ice-class vessels, large-tonnage vessels including LNG and LPG carriers, specialised vessels, and other types of vessels that were not previously manufactured in Russia due to a lack of launching and hydraulics facilities.

Neighbouring shipyards have been trying to keep up with Zvezda. In January 2020, Amursky Shipyard, one of the largest shipbuilding enterprises in the Far East region, handed over a new semi-submersible drilling rig to Gazprom, the Project 22420 vessel Ostap Sheremeta . The vessel was laid down on February 16, 2011 and rolled out of the assembly hall on June 11, 2014.

The shipyard's near-term plans include the signing of contracts for the construction of 10 tankers for Vostok Oil in October 2021. These ships will be Arctic shuttle tankers and will each have Arc7 ice class notation and a deadweight of 120,000 tonnes. In general, the specific feature of Russian marine shipbuilding is that almost all ships are built to ice class.

In Russia, there are currently several investment projects focused on the construction of new shipbuilding facilities as well as retrofitting and upgrading of existing ones. The expansion of the facilities at Zvezda Shipbuilding Complex continues, as do the modernisation of Severnaya Verf Shipyard, the creation of a state-of-the-art shipbuilding and ship repair facility in the village of Zhatay in Yakutia, the establishment f a modern "smart shipyard" at Onego Shipyard, and the rehabilitation of Zvezda's existing Far East plant. Within its Strategy for the Development of the Shipbuilding Industry-2035, the Russian government has implemented several measures of state support for the transition to domestic software. This will allow the creation of conditions for the introduction of domestically developed CAD technology into the shipbuilding industry at a level of at least 75 per cent, engineering calculation systems at not less than 50 per cent, and product data management systems by 2024.

Lastly, it is worth noting that the shipyards specialising in the repair of sea-going and mixed class vessels are now in a difficult situation in Russia, though they are able to maintain their financial and economic stability mainly through maintenance and drydocking of state-owned ships such as those operated by the Ministry of Defence. Operators of commercial sea-going and mixed class fleets prefer placing repair orders with foreign dockyards due to lower costs and, more importantly, faster turnarounds. The Russian ship repair sector still has to overcome some rather tall hurdles finances-wise as a result of existing customs and tax regulations.

Article contributed by IAA PortNews especially for BairdMaritime.com

Click here for more vessel reviews, features, and news stories as part of this month's Russia Week.

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The National

16 superyachts owned by Russian oligarchs

Western sanctions over moscow's invasion of ukraine led to many luxury vessels being detained in europe.

23 March, 2022

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Here are the superyachts seized from Russian oligarchs

As part of an international pressure campaign on Russia, authorities from around the world have seized more than a half-dozen superyachts belonging to billionaire oligarchs allied with Russian President Vladimir Putin.

The yacht seizures since the Feb. 24 invasion are "just the beginning," White House press secretary Jen Psaki told reporters in March, as an international task force worked to identify further assets that can be seized or frozen.

“The Justice Department will be relentless in our efforts to hold accountable those who facilitate the death and destruction we are witnessing in Ukraine,” U.S. Attorney General Merrick Garland said of the ongoing efforts in May.

Here are the superyachts government officials have seized since Russia invaded Ukraine last month.

The Justice Department announced May 5 that the Fijian government had seized billionaire oligarch Suleiman Kerimov 's 348-foot yacht Amadea. The vessel, which is valued at more than $300 million , arrived in Fiji last month. Kerimov, who's worth an estimated $14 billion and has ties to the Russian government, was sanctioned by the U.S. Treasury Department over alleged money laundering in 2018.

Special features on the sprawling yacht include a helipad, infinity pool, a jacuzzi and multiple bars, according to a report in Boat International . It can accommodate 16 overnight guests in addition to 36 crew members, the report said.

In April, Spanish law-enforcement officials seized a 255-foot yacht called the Tango, which Justice Department says is owned by oligarch Viktor Vekselberg. Vekselberg is an aluminum magnate who the Treasury Department says has close ties to Russian President Vladimir Putin.

The Tango is worth an estimated $90 million, prosecutors said , and Vekselberg allegedly purchased it through shell companies. The 11-year-old yacht has seven staterooms and reportedly includes amenities such as a pool, gym and beauty salon .

Authorities in Italy seized a 215-foot superyacht called the Lady M this month. It's owned by Alexei Mordashov, Russia's richest businessman, and it’s estimated to be worth $27 million . The vessel, which requires a crew of 14, has six guest cabins , a pool and a gym.

But it pales in comparison to another of Mordashov's yachts, the $500 million Nord . The 464-foot vessel, which has two helipads and a waterfall and can accommodate 36 guests, was anchored this month in the Seychelles, where the U.S. and European Union sanctions don’t apply.

Italian officials also seized the 132-foot superyacht Lena, owned by the energy magnate Gennady Timchenko. Estimated to be worth $8 million, it has five cabins and can accommodate 10 guests.

SY A — short for Sailing Yacht A — is one of the world's largest superyachts. Valued at over $440 million, the 469-foot vessel, owned by the fertilizer magnate Andrey Melnichenko, has eight decks, multiple elevators, an underwater observation area and the world's tallest masts . It was seized in the Italian port of Trieste.

Authorities in Spain seized Sergei Chemezov's Valerie, a 279-foot superyacht that had been moored in Barcelona. Chemezov , a former KGB officer, heads the state conglomerate Rostec. Spanish Prime Minister Pedro Sanchez touted the seizure on La Sexta television. “We are talking about a yacht that we estimate is worth $140 million,” Sanchez said.

Officials in France announced this month that they had seized the 289-foot Amore Vero, which was undergoing repairs in a shipyard near Marseille. When they arrived, authorities said, they found the crew preparing for an urgent departure, even though the repair work was scheduled to last through April. The $120 million boat, which has seven cabins , is linked to Igor Sechin, described by the U.S. Treasury Department as a close ally of Putin's.

Dareh Gregorian is a politics reporter for NBC News.

From yachts to lavish estates, tracking Russian assets seized so far

By Tal Yellin , CNN

Published April 13, 2022

Updated April 27, 2022

Countries are on the hunt for sanctioned Russian assets after Russia’s invasion of Ukraine in February. Thousands of Russians have since been sanctioned by the United States, the European Union, and the United Kingdom, among others. Superyachts and multimillion-dollar properties have already been seized or frozen by authorities in Italy, France, Spain, the UK and Gibraltar. The United States has also launched KleptoCapture, a task force focused on those who violate sanctions and the seizing of their assets.

This interactive will continue to track known developments and help show where sanctioned Russians park their money outside of Russia. Except for Igor Sechin and Sergei Chemezov, no other oligarchs or related persons mentioned in this story responded to requests for comment from CNN.

Real estate

Other assets

April 14, 2022

“dilbar”  linked to    alisher usmanov   valued at $600-$750 million in hamburg, germany.

Germany has impounded the “Dilbar,” a superyacht connected to a Russian oligarch in Hamburg, the country’s embassy in the US tweeted . The yacht belongs to the sister of Alisher Usmanov and is worth between $600 to $750 million, according to the German Federal Criminal Police Office. Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating Usmanov is alleged to have “financial ties” to Putin. In March, Italy’s financial police seized his real estate and assets worth about $90 million. Usmanov has also been sanctioned by the European Union.

April 12, 2022

Assets  linked to    roman abramovich   valued at over $7 billion in jersey.

Authorities in the Channel island of Jersey froze more than $7 billion worth of assets “suspected to be connected to” Russian billionaire Roman Abramovich, according to a government statement . The frozen assets are either located in Jersey or owned by Jersey incorporated entities, the statement said. The States of Jersey Police also executed search warrants on premises “connected to the business activities” of Abramovich. Abramovich made his fortune in steel and investments and was sanctioned by the UK in March, citing his decades-long relationship with Vladimir Putin. In a statement at the time , the UK government noted that “he is one of the few oligarchs from the 1990s to maintain prominence under Putin.” These frozen assets represent around half his net worth, according to the Bloomberg Billionaire Index .

April 11, 2022

Properties  linked to    nikita mazepin   valued at $114.3 million in sardinia, italy.

A real estate compound, “Rocky Ram,” linked to Nikita Mazepin and his oligarch father Dmitry was seized in Sardinia, the Italian financial police confirmed in a statement. The police said the properties are worth 105 million euros (about $114.3 million). Nikita, a former Formula 1 Haas team driver, and his father were included on a list of individuals sanctioned by the EU in early March. The sanction list described Mazepin Sr. as “a member of the closest circle of Vladimir Putin” saying he and 36 other ”businesspeople” met with Putin and other government officials to discuss how sanctions would affect Russia. In early March, Mazepin Sr. sold his controlling stake in Uralchem Group, one of the largest producers of nitrogen and phosphate fertilizers in Russia, and resigned as CEO from Uralchem JSC, a subsidiary, according to a company statement .

April 7, 2022

Assets  linked to    sanctioned russians   valued at $7.83 billion in switzerland.

Switzerland has so far frozen 7.5 billion Swiss francs (about $7.83 billion) of sanctioned Russian assets, according to a State Secretariat for Economic Affairs (SECO) spokesperson. The number of frozen assets increased from March 24, when 5.75 billion Swiss francs (about $6.18 billion) were initially frozen. Frozen assets include 11 properties throughout Switzerland. No identifiable information was revealed and no specific assets were mentioned in the initial statement. After Russia’s invasion of Ukraine, Switzerland broke from traditional neutrality and adopted EU sanctions.

April 5, 2022

Assets  linked to    sanctioned russians   valued at $3 billion in belgium.

Belgian authorities have frozen $3 billion in Russian assets and blocked $215 billion in transactions since the start of economic sanctions, according to Belgian Minister of Finance Vincent Van Peteghem. The frozen assets belong to 877 individuals and 62 entities on the European sanctions list, according to the statement from the Belgian Finance Ministry. The blocked transactions are the result of other restrictions imposed by the European Union on Russia.

April 4, 2022

“tango”  linked to    viktor vekselberg   valued at $90 million in mallorca, spain.

Spanish authorities seized a superyacht named “Tango,” which they say is owned by Russian oligarch Viktor Vekselberg in Mallorca, according to a statement from the Spanish Civil Guard. The detained yacht was part of an operation with US federal agents and was carried out under a Spanish court order, the statement said. Vekselberg runs the Russian investment company Renova Group. He is worth approximately $16.5 billion, according to the Bloomberg Billionaires Index. He was sanctioned by the United States and is “under investigation for tax fraud, money laundering and document forgery trying to hide the ownership of this superyacht to avoid sanctions” and is “very close to (Russian President) Vladimir Putin,” the Spanish Civil Guard said. Vekselberg’s case marks the first seizure for the newly formed US task force, KleptoCapture. The yacht is 78 meters long (about 256 feet) and is valued at nearly $90 million, per the US Department of Justice.

March 29, 2022

“phi”  linked to    a russian businessman   valued at $50 million in london, england.

The United Kingdom detained the “Phi” yacht belonging to an unnamed-Russian businessman with ties to Russian President Vladimir Putin and the Russian regime, according to the UK Department for Transport. The Dutch-built vessel is docked in East London’s Canary Wharf for the superyacht awards, and was planning to depart March 29. The Department of Transport claims that the ownership of the boat was “deliberately well hidden.” It sails under the Maltese flag and is registered to a company based in the Caribbean islands of St. Kitts and Nevis. The 192-foot yacht is worth approximately £38 million (about $50 million).

March 23, 2022

Assets  linked to    sanctioned russians   valued at $800 million in france.

French authorities have frozen assets linked to sanctioned Russian oligarchs valued at $800 million, according to French government spokesperson Gabriel Attal. The European Union’s latest round of sanctions in early March against Russia included measures targeting 160 oligarchs and Russian politicians. “There will be no taboo if we need to go further,” Attal said about any additional sanctions.

March 22, 2022

Assets  linked to    sanctioned russians   valued at $431 million in the netherlands.

The Netherlands has frozen nearly 392 million euros (about $431 million) in Russian assets, the Dutch Ministry of Finance told parliament in a letter seen by CNN. The ministry said that further asset freezes were expected. The European Union’s latest round of sanctions in early March against Russia included measures targeting 160 oligarchs and Russian politicians.

March 21, 2022

“axioma”  linked to    dmitry pumpyansky   valued at $75 million in gibraltar.

Authorities in Gibraltar have detained the “Axioma” yacht linked to Russian billionaire Dmitry Pumpyansky, according to UK and Gibraltar government statements. Pumpyansky was sanctioned by the EU and UK and was the beneficiary of TMK PAO, Russia’s largest oil and gas steel pipe maker. He also resigned from the TMK PAO’s board of directors, the company announced . The 240-foot yacht is worth approximately $75 million, according to SuperYachtFan . Gibraltar’s ports had been closed to sanctioned individuals, but the Captain of the Port made an exception after JPMorgan Chase was granted a court order authorizing the seizure. “JPMorgan is acting pursuant to its mortgage rights,” the Gibraltar government said in a statement to CNN. JPMorgan Chase, the largest bank in the United States, said in a statement in early March it was getting out of Russia following the invasion of Ukraine, citing “compliance with directives by governments around the world.”

March 18, 2022

Real estate  linked to    alexey mordaschov   valued at $116 million in sardinia, italy.

The Italian financial police seized a real estate complex belonging to Russian billionaire Alexey Mordaschov in Sardinia, according to Italy’s Prime Minister’s office. Mordaschov is the chairman of Russian mining and steel company Severstal and is one of Russia’s richest men, worth $18.5 billion, according to Forbes . The frozen real estate is worth around 105 million euros (about $116 million), per Ferdinando Giugliano, the media advisor to the Italian Prime Minister. On March 4, Mordaschov’s yacht, named “Lady M” was also seized in Italy. The 213-foot yacht is worth approximately 65 million euros (about $71 million).

March 16, 2022

“crescent”  linked to    an unknown owner   valued at $600 million in tarragona, spain.

Spanish authorities have detained a superyacht, named “Crescent” in the port of Tarragona, according to a statement from Spain’s Ministry for Transport. The 135-meter yacht flies a Cayman Islands flag and has been “provisionally detained” to establish whether it is the possession of a person or entity included in the European Council’s package of sanctions, the statement said. The yacht cost approximately $600 million, according to SuperYachtFan.

Real estate  linked to    Petr Aven   valued at $4.4 million in Sardinia, Italy

The Italian financial police froze a real estate complex belonging partially to Russian oligarch Petr Aven in Sardinia, according to a statement issued by Prime Minister Mario Draghi’s press office. The share of real estate is worth approximately 4 million euros (about $4.4 million), according to the Italian Prime Minister’s office. The billionaire stepped down earlier this month as Director of Russian private bank Alfa Bank and from the board of the investment firm he co-founded, LetterOne, after being sanctioned by the EU and UK . The European Union named Aven as “one of Vladimir Putin’s closest oligarchs,” who “regularly meet” with the Russian President in the Kremlin, and “does not operate independently of the President’s demands.”

Real estate and vehicles  linked to    Alisher Usmanov   valued at $72 million in Italy

Real estate assets and six corporate vehicles belonging to Russian oligarch Alisher Usmanov were seized by the Italian financial police. The seized assets are worth approximately 66 million euros (about $72 million). Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating he is alleged to have financial ties to Putin. Italy’s financial police had previously seized his real estate in the Golfo del Pevero area in Arzachena on March 4. Those assets are worth approximately 17 million euros (about $18 million).

March 15, 2022

“lady anastasia”  linked to    alexander mikheev   valued at $7 million in palma de mallorca, spain.

Spanish authorities have detained a yacht linked to Russian oligarch Alexander Mikheev, named “Lady Anastasia,” in the port of Palma de Mallorca, according to the Spanish Ministry of Transport. Mikheev is the CEO of Rosoboronexport, the only state organization in Russia that exports weapons and was sanctioned by the EU and the US. The yacht is nearly 48 meters (157 feet) long and was in the news in late February, when a crew member tried to sink the vessel in retaliation for Russia’s invasion of Ukraine. The yacht is worth approximately $7 million, according to a listing on BOAT International.

“Valerie”  linked to    Sergei Chemezov   valued at $140 million in Barcelona, Spain

Spanish authorities seized the “Valerie” yacht reportedly linked to Russian oligarch and former KGB agent Sergei Chemezov in the port of Barcelona, according to Reuters . Chemezov is the chairman of the Rostec conglomerate and a member of the Supreme Council of ‘United Russia’, per EU sanctions . When the US sanctioned Chemezov in 2014 — as part of an effort targeting Putin’s inner circle — the government said he had known Putin since the 1980s and the two lived in the same apartment complex in East Germany. The yacht is worth approximately $140 million and will remain “provisionally immobilized” until authorities can determine its ownership. A spokesman for Chemezov denied that he is tied to the yacht.

March 11, 2022

“sailing yacht a”  linked to    andrey melnichenko   valued at $577 million in trieste, italy.

The Italian financial police seized “Sailing Yacht A” — which could be linked to Russian fertilizer and coal billionaire Andrey Melnichenko — in the port of Trieste, according to Ferdinando Giugliano, the media advisor to the Italian Prime Minister. Melnichenko was sanctioned by the EU on March 9 and has since removed himself from the boards of two companies he founded, Eurochem and SUEK, according to his spokesman Alex Andreev in a statement to CNN. At 469 feet long, the vessel is also the world’s tallest sailing yacht — taller than the Statue of Liberty — and is worth approximately 530 million euros (about $577 million).

March 4, 2022

“villa lazzareschi”  linked to    oleg savchenko   valued at $3.3 million in lucca, italy.

A 17th century villa allegedly owned by Oleg Savchenko, named “Villa Lazzareschi,” was seized by Italian financial police in the province of Lucca, according to a police statement . Savchenko is a member of the State Duma and was sanctioned by the EU. The seized Italian villa is worth approximately 3 million euros (about $3.3 million).

Real estate  linked to    Vladimir Soloviev   valued at $8.7 million in Como, Italy

Real estate properties belonging to Vladimir Soloviev were seized by the Italian financial police in the province of Como, according to a police statement . Soloviev is a Russian pro-Kremlin propagandist and TV/radio journalist, according to EU Council sanctions . The frozen Italian real estate is worth approximately 8 million euros (about $8.7 million).

Real estate  linked to    Alisher Usmanov   valued at $18 million in Arzachena, Italy

A real estate compendium belonging to Russian oligarch Alisher Usmanov was seized by the Italian financial police in the Golfo del Pevero area in Arzachena, according to a statement . The frozen Italian real estate is worth approximately 17 million euros (about $18 million).

Usmanov is one of Russia’s wealthiest billionaires with vast domestic and international holdings, according to the US Treasury. The US government sanctioned him in early March in a campaign targeting Putin’s allies, stating he is alleged to have financial ties to Putin. The US said it sanctioned his private jet and his 512-foot superyacht named “Dilbar.”

“Lena”  linked to    Gennady Timchenko   valued at $55 million in San Remo, Italy

The Italian financial police seized Russian billionaire Gennady Timchenko’s yacht, named “Lena,” in the port of San Remo, according to a police statement . Timchenko is the owner of private investment group, Volga Group. He was sanctioned by the EU in February. When the US government sanctioned Timchenko in 2014, an effort targeting Putin’s inner circle, they stated his “activities in the energy sector have been directly linked to Putin.” The 126-foot yacht is worth approximately 50 million euros (about $55 million).

“Lady M”  linked to    Alexey Mordaschov   valued at $71 million in Imperia, Italy

The Italian financial police seized Russian billionaire Alexey Mordaschov’s yacht, named “Lady M,” in the northern port of Imperia, according to a police statement . Mordaschov is the chairman of Russian mining and steel company Severstal and is one of Russia’s richest men, worth $18.5 billion, according to Forbes . The 213-foot yacht is worth approximately 65 million euros (about $71 million).

March 3, 2022

“amore vero”  linked to    igor sechin   valued at $120 million in la ciotat, france.

French authorities seized a yacht linked to Igor Sechin in the Mediterranean port of La Ciotat, according to the French Finance Ministry . Sechin is the CEO of Rosneft, the Russian state oil company and one of the world’s largest crude oil producers. The yacht, named “Amore Vero” — or “True Love” in Italian — was scheduled to leave the port on April 1 after arriving in January. Sechin was deputy prime minister of Russia from 2008 until 2012. The European Union said his connections to Putin are “long and deep,” with the two men maintaining daily contact. The yacht is worth about $120 million, according to SuperYachtFan. A Sechin spokesman denied that he is tied to the yacht.

Tips: Do you have information to share about seized or frozen Russian assets? Learn how to reach our journalists and help us investigate.

Senior Visuals Editor @CNNBusiness @CNN

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