Russian Yacht Valued at $300 Million Now Faces Forfeiture (1)

The US moved closer to auctioning off sanctioned Russian billionaire Suleiman Kerimov’s superyacht, one of the most glittering prizes in its asset seizure efforts, after a judge ruled that a second Russian who claims ownership has no legal standing in the case.

Monday’s ruling that the US has won forfeiture of the boat comes after a legal fight over the 348-foot (106-meter) Amadea, following a Biden administration program to target wealthy Russians linked to President Vladimir Putin’s war on Ukraine.

The yacht was seized in Fiji in 2022 at the request of the US, which claimed that Kerimov ...