ONE OF THE world’s largest yachts has been seen sitting in a quiet port in the northern most sheikhdom of the United Arab Emirates – so far avoiding the fate of other luxury vessels linked to sanctioned Russian oligarchs.
The 387ft Motor Yacht A’s presence in a Ras al-Khaimah creek shows the UAE’s neutrality during Russia’s war on Ukraine as the Gulf country remains a target for Russian money and its oil-rich capital sees Moscow as a crucial oil producing partner.
Since Russian tanks rolled into Ukraine on February 24, the seven sheikhdoms of the Emirates have offered a refuge for Russians, both those despairing of their country’s future as well as the mega-rich concerned about western sanctions.
While much of the world has piled sanctions on Russian institutions and allies of President Vladimir Putin, the Emirates has not.
It also avoids overt criticism of the war, which government read-outs still refer to as the “Ukraine crisis”.
The Motor Yacht A belongs to Andrey Melnichenko, an oligarch worth some 23.5 billion US dollars (€21.4 billion), according to Forbes.
He once ran the fertiliser producer Eurochem and SUEK, one of the world’s largest coal companies.
The European Union in March included Melnichenko in a mass list of sanctions on business leaders and others described as close to Putin.
The EU sanctions noted he attended a meeting Putin held on the day of his invasion.
“The fact that he was invited to attend this meeting shows that he is a member of the closest circle of Vladimir Putin and that he is supporting or implementing actions or policies which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine, as well as stability and security in Ukraine,” the EU said at the time.
Melnichenko resigned from the corporate positions he held in the two major firms, according to statements from the companies.
However, he has criticised western sanctions and denied being close to Putin.
Melnichenko could not be reached for comment through his advisers.
Already, authorities in Italy have seized one of his ships — the 600 million dollar (€559 million) Sailing Yacht A.
France, Spain and Britain as well have sought to target superyachts tied to Russian oligarchs as part of a wider global effort to put pressure on Putin and those close to him.
But the 300 million dollar (€279 million) Motor Yacht A so far appears untouched.
It flew an Emirati flag on Tuesday when Associated Press journalists observed the ship.
Two crew members milled around the deck.
The boat’s last recorded position on March 10 put it off the Maldives in the Indian Ocean, just over 1,860 miles from Ras al-Khaimah.
Satellite images from Planet Labs PBC analysed by the AP show the vessel in Ras al-Khaimah’s creek from March 17, a week later.
The Financial Times first reported on the ship’s presence in the UAE.
Authorities in Ras al-Khaimah did not respond to a request for comment on the yacht’s presence.
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