Putin crony’s £63m superyacht up for auction after it’s seized in Gibraltar

A £63million Russian superyacht is set to go up for auction next week after being seized when it's billionaire owner failed to pay off a £17million loan.

The 224ft vessel, named Axioma, will be auctioned at Gibraltar's Admiralty Court and it's expected to go under the hammer for less than its estimated value.

Onboard the enormous yacht, which sleep 12 people in six cabins and has space for 22 crew members, there's a 3D cinema, two swimming pools, a swim-in cocktail bar, Jacuzzi, spa, jet skis and scuba diving equipment.

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Some governments, including the UK, called for the proceeds of seized assets to help Ukrainian refugees – but the money raised from selling Axioma is believed to be going to JP Morgan.

The yacht, owned by Putin's crony Dmitrievich Pumpyansky, was built in 2013 and was once available for millionaires to rent at up to £465,000 per week. Fuel costs for the vessel alone cost around £15,000 a week and crew can make upwards of £10,000 a week in tips.

Famous faces who previously chartered the vessel include Kendall Jenner as well as Formula 1 driver Lewis Hamilton, reports the Daily Mail.

Who is Pumpyansky and how did he make his billions?

Pumpyansky made his almost £2 billion fortune on oil and gas pipelines as the owner of steel pipe manufacturer OAO TMK, a supplier to the Russian owned energy company Gazprom.

Since Russia invaded Ukraine earlier this year, Pumpyansky has been banned from the UK, EU and the US. According to a yacht-tracking website, Axioma arrived in Gibraltar following a 17-day crossing of the Atlantic.

The Gibraltar government confirmed in a statement that Axioma had been seized in port after being granted permission to enter. Foreign Secretary Liz Truss tweeted: ‘Welcome Gibraltar’s seizure of Dmitry Pumpyansky’s super-yacht following UK sanctions.’

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