£39m Russian Superyacht Linked to Putin Aide Remains in London Lockdown
The £39m superyacht Phi, tied to a Putin associate, is still stuck in London after nearly three years of detention.
London, Russia, Superyacht, Putin, Sanctions, Sergei Naumenko
London: A £39 million superyacht owned by a close associate of Vladimir Putin is still stuck in London after nearly three years. The yacht, named Phi, has been sitting idle at a quiet quay since March 2022, when UK authorities detained it following sanctions against Russia due to the invasion of Ukraine.
When the National Crime Agency boarded the vessel, it was a big deal. They wanted to send a message to Putin and his allies. Fast forward almost three years, and Phi is still floating there, waiting for a decision. The owner, Sergei Georgievich Naumenko, who isn’t on the UK sanctions list, has even taken legal action to get his yacht back.
During a recent visit to the quay in Canary Wharf, it was clear that Phi is looking a bit worse for wear. It’s surrounded by scaffolding and plastic sheets, making it stand out against the shiny skyscrapers nearby. A worker from the Canal and River Trust mentioned that some think the scaffolding is there to make the yacht look bad, possibly to pressure the government into releasing it.
As time goes on, the yacht could deteriorate more, but it would take years for it to really show wear. Interestingly, there are still a few crew members on board, doing maintenance and keeping an eye on things. Even though it looked empty during the visit, there were signs of life, like lights turning on and off.
In the early days of its detention, Phi had security guards, but now it’s been left vulnerable to trespassers. Some curious folks have managed to sneak on board, despite the warnings. Naumenko insists he’s being unfairly targeted just because he’s wealthy and Russian, claiming he has no ties to Putin. However, a judge dismissed his appeal, noting the yacht’s high value and its connection to Russia.
Not much is known about Naumenko, but one of his former captains said he lives in the Ural mountains and feels he’s been wrongly punished. He’s still responsible for the yacht’s upkeep, which costs around £3 million a year. The fate of Phi will be decided in January 2025, when the UK Supreme Court hears the case.
A spokesperson for the Department for Transport mentioned they can’t comment on ongoing legal matters but assured that no taxpayer money is being used to maintain the yacht in its current spot.