The ACF demands to stop Putin from his attempt to hijack his arrested yacht Scheherazade.

November 15, 2023

The Anti-Corruption Foundation appealed to the European Commission, as well as to the Italian Ministry of Economy and Finance and the country's Financial Guard to prevent the violation of sanctions against Vladimir Putin and his yacht Scheherazade.

In March 2022, just after the start of the war in Ukraine, the ACF released an investigation regarding the luxurious yacht Scheherazade docked at the Marina di Carrara port in Tuscany. This 139-meter yacht is valued at approximately $700 million, boasting features such as a gilded jacuzzi, a private spa room, and a living area with a mechanical grand piano.

Investigators presented compelling evidence establishing Vladimir Putin as the true owner of the yacht. Furthermore, it was revealed that the crew consists of members of the Federal Security Service, responsible for Putin's security.

The ACF promptly appealed to Italian law enforcement authorities to impound the yacht, as, by that time, Putin was already under European sanctions. Subsequently, on May 6, Italy arrested the vessel.

However, significant repairs were carried out on the yacht. In November of this year, it was revealed that the vessel had been relaunched. The Russian crew remains employed and continues to receive their salaries, indicating readiness to set sail at any moment.

We have urged Italian and EU authorities to pay attention to the yacht's situation and implement immediate measures to prevent it from being seized and used in violation of sanctions. We also request the disclosure of information regarding those who serviced the yacht after its arrest, covered the costs of repairs, and, most importantly, the legal grounds for these actions. And to hold them accountable for this. 

The Anti-Corruption Foundation (EIN: 85-0774334) is a US registered 501(c)(3) private foundation. US donations are fully tax-deductible to the extent allowed by law. Click here to view the registration details.