Ukraine To Sell Seized Superyacht Linked To Pro-Russian Politician Viktor Medvedchuk

Ukraine’s Asset Recovery and Management Agency (ARMA) is preparing to sell the yacht Royal Romance, which is linked to Viktor Medvedchuk, a pro-Russian politician in Ukraine, deprived lawyer and businessman.

The agency said on 2 April that it has now started practical steps for the sale after completing key legal procedures.

The yacht is currently under the jurisdiction of Croatia and has been transferred to ARMA for management and sale based on a ruling by an investigating judge.

Medvedchuk was placed under sanctions in 2021 by Ukraine’s National Security and Defence Council. These sanctions included freezing his assets and seizing property connected to him.

One of the main developments in the case is the completion of the pre-trial investigation. Ukraine’s Prosecutor General’s Office has already sent the indictment to court, and the case is now at the trial stage.

Legal documents related to the case have also been shared with Croatian authorities as part of international legal cooperation.

ARMA is now working on valuing the yacht, deciding how it will be sold, and making sure the process is transparent and open.

The plan includes recognising the Ukrainian court decision, completing the sale, and transferring the money to state accounts. The funds will then be distributed between jurisdictions as required.

The agency said the case has faced resistance from parties linked to Medvedchuk. This includes attempts to delay the process and use legal steps to block progress.

ARMA noted that such actions were expected and that the risks have already been reported to the relevant authorities.

At the same time, ARMA is also handling other assets connected to Medvedchuk. In the case of the yacht Amore Mio, the main difficulty was finding its location.

To address this, the agency worked with international organisations such as Interpol, Europol and the International Maritime Organization.

As a result, the vessel has been added to Interpol’s Stolen Vessels database, allowing authorities around the world to track its movement.

ARMA said its main goal is to bring cases to a final result, which means recovering assets and ensuring money is returned to Ukraine’s state budget.

Image Credits: ARMA