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Yacht NORD – Elite $500M Superyacht

Owned by Russian billionaire businessman, yacht NORD is the tenth biggest yacht in the world.

The annual running costs are an incredible $40 Million per year due to her massive 142-meter length.

Yacht NORD interior

The interior of the NORD yacht was developed by Nuvolari Lenard, an Italian yacht designer who also worked on the exterior of the impressive vessel.

Twenty-four guests can be accommodated in twelve luxurious cabins, including a spacious owner’s suite. There is additional space below the deck for up to 40 crew members.

Although exact details of the interior of NORD remain private and unknown to the public, the yacht is said to have two elevators, a large gym, a sauna, a beauty salon, and a cinema.

Lenard and his design studio are known for their upscale and aesthetically pleasing layouts, which are usually kept in earth tones and natural colors.

The Italian designer also worked on Mordashov’s smaller yacht, the LADY M, where he designed both the interior and exterior.

NORD specifications

The NORD yacht has a total length of 142 meters (465.1 ft). Her beam is 19.5 meters (64 ft) long, and her draft measures 5.4 meters (17.9).

The massive yacht weighs 9,259 tons. Her four MTU engines allow her to reach top speeds of 25 knots, although her average cruising speed lies closer to 20 knots.

NORD exterior

The exterior of the NORD yacht was designed by Nuvolari Lenard and his experienced Italian design studio which is considered one of the most exclusive in the world.

The yacht is white with dark blue elements on the top decks, creating a streamlined effect and making the vessel appear even more elegant.

She has two separate helipads, one of which even has a collapsible helicopter hangar that can store smaller aircraft.

On the aft of the yacht, there is a sizeable swimming pool and beach club. NORD has a high-quality steel hull and impressive aluminum superstructure. 

The owner purchased NORD for a price of US $500 million in 2021. The yacht is estimated to incur running costs of US $40 to 50 million annually.

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A $500 million superyacht thought to belong to a Russian oligarch is returning to Russia after he was sanctioned

• A superyacht said to belong to Alexei Mordashov is returning to Russia after he was sanctioned.
• The website SuperYacht Fan says the yacht is worth $500 million and belongs to the oligarch.
• Mordashov is Russia's third-richest person. Italy has seized a property and another yacht of his.

A superyacht is returning to Russia after its purported owner, a Russian oligarch, was sanctioned.

Alexei Mordashov is believed to be the owner of Nord, a $500 million, 465-foot vessel, according to the website SuperYacht Fan .

The yacht is headed to Vladivostok, a city close to North Korea, and due to arrive on Tuesday, according to MarineTraffic and VesselFinder . Bloomberg first reported on the vessel's movement.

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The West has been imposing sweeping sanctions on Russia to crush its economy and put pressure on President Vladimir Putin to call off his invasion of Ukraine. The measures include sanctioning Russian elites and oligarchs and freezing their assets.

The European Union sanctioned Mordashov on February 28, accusing him of "supporting actions and policies which undermine the territorial integrity, sovereignty and independence of Ukraine."

"I have absolutely nothing to do with the emergence of the current geopolitical tension and I do not understand why the EU has imposed sanctions on me," Mordashov told the Russian news outlet TASS the day after the EU sanctions were announced. He has since been sanctioned by the UK, too.

Italy has already seized a  $71 million superyacht belonging to Mordashov, as well as a  $116 million property in Sardinia, Reuters   reported this month. Since the invasion started, some oligarchs have been shifting their yachts and private jets.

Nord left Seychelles on March 12 and was last tracked in the Singapore Strait on Tuesday, according to MarineTraffic and VesselFinder . The yacht has an enclosed helicopter hangar, a swimming pool, a sauna, and a cinema, according to SuperYacht Fan.

The yachtmaker Lürssen and the yacht-design company Nuvolari Lenard, both of which SuperYacht Fan identified as Nord's developers, did not immediately respond to Insider's request for comment about the vessel's ownership. Severstal, the Russian mining company that Mordashov majority-owns and controls, also did not immediately respond to Insider.

Mordashov is thought to be Russia's third-richest person, with an estimated net worth of about $21.8 billion, according to Bloomberg's Billionaires Index , though his wealth has plummeted since Russia invaded Ukraine.

It's unclear whether Mordashov does own Nord, but he's among the Russian oligarchs shuffling their assets after being sanctioned. The day he was hit by EU sanctions, Mordashov shifted his 34% stake in the travel company TUI in two separate transactions. A nearly 30% stake went to a British Virgin Islands company believed to be controlled by his wife.

Earlier this month, Mordashov transferred control of a $1.1 billion stake in the mining company Nordgold to his wife and stepped down as a director.

Watch: BILL BROWDER: How sanctions on Russia hurt Putin's closest allies

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Italy seizes yacht owned by Russian oligarch Mordashov -source

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‘Mysterious’: the $700m superyacht in Italy some say belongs to Putin

Activists linked to Alexei Navalny believe the Scheherazade is owned by the Russian president

F or several months, the mysterious 140-metre-long, six-floor superyacht has towered over the smaller boats in the shipyard in Marina di Carrara, a town on Italy’s Tuscan coast, arousing chatter among its people over the identity of its wealthy owner.

“It’s the largest yacht I’ve ever seen here,” said Suzy Dimitrova, who owns a boat in the marina. “There are people cleaning it all the time. The last time I saw it leave [the shipyard] was last year. We’re all wondering who the owner is.”

The Scheherazade, said to be worth $700m (£528m), is under investigation by Italian authorities for potential links to sanctioned Russians. And activists working with the jailed Russian opposition leader Alexei Navalny are in no doubt that the yacht is owned by the Russian president Vladimir Putin .

On Monday, investigative journalist Maria Pevchikh and anti-corruption activist Georgy Alburov said that all crew members, obtained from a list dating December 2020, were Russian, apart from the captain. In a video published on YouTube, they claimed that some of the yacht’s staff worked for the Russia’s Federal Protective Service (FSO), an agency that manages security for high-ranking officials including Putin.

The activists, who have urged Italian authorities to seize the yacht, said this information proves it belongs to Putin. “They are Russian state employees, military personnel, and they regularly travel to Italy as a group to work on the mysterious yacht,” Pevchikh wrote on Twitter.

The interior of the vessel was described as being equipped with a spa, swimming pools, two helipads, a wood-burning fireplace and a pool table designed to tilt so as to reduce the impact of the waves.

In an address to the Italian parliament on Tuesday, the Ukrainian president Volodymyr Zelenskiy urged Italy to seize the yacht, adding that Putin and his wealthy supporters often holidayed in Italy and should have their assets blocked.

“Don’t be a resort for murderers,” he said. “Lock all their real estate, accounts and yachts – from the Scheherazade to the smallest ones.”

Putin’s last official visit to Italy was in 2019, at the invitation of the former prime minister, Giuseppe Conte. He also held talks with Pope Francis at the Vatican during the visit.

Marina di Carrara is close to Forte dei Marmi, a favourite holiday destination for Russian oligarchs, many of whom have bought villas and beach resorts.

In early March, Italian police seized a yacht owned by Alexei Mordashov, the richest man in Russia before being blacklisted by the European Union, and another owned by Gennady Timchenko, a billionaire with close ties to Putin , in the Ligurian port of Imperia.

The yacht can only be seen through a fence, where it is continuing to undergo a refit, scheduled to be completed next year, in a shipyard owned by The Italian Sea Group, a company that refits and builds luxury yachts.

The mystery over its owner gathered momentum in early March, when finance police in Carrara boarded the yacht as EU sanctions against Russian oligarchs kicked in over Russia’s invasion of Ukraine .

The police seized ownership documents from the yacht’s British captain, Guy Bennett-Pearce. At the time, US officials told the New York Times that they were also investigating whether the yacht belonged to Putin.

The Italian Sea Group said in a statement that it was continuing to work on the ship’s €6m (£5m) refit and maintenance despite the EU’s sanctions and that, according to documents in its possession, the vessel “is not attributable to the property of the Russian president Vladimir Putin”, and neither is it owned by a Russian on the sanction list.

A source at the finance police unit in Carrara said that they are now aware who the owner is and will soon make an announcement.

An investigation by La Stampa newspaper earlier this month had linked the vessel to Eduard Yurievich Khudainatov, the former president of the Russian state oil firm Rosneft, via a shell company registered in the Marshall Islands.

But Italian police are reportedly certain that Khudainatov is not the yacht’s real owner. “He seems to be a man connected with Putin’s inner circle but not so rich as to own a yacht like the Scheherazade,” said Jacopo Iacoboni, the journalist for La Stampa who carried out the investigation.

Until the Italian police reveal their findings, the people of Marina di Carrara continue to ponder, even if its presence causes concern. “Putin is the presumed owner, and looking at it now causes me a lot of anxiety because of what he is doing in Ukraine,” said Maria Cristina.

However, there are no signs of protests being planned. “There are always a lot of words, but little action here,” said Dimitrova.

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Leaked files shed light on financial structures behind oligarchs’ seized yachts

Amid a wave of sanctions against President Vladimir Putin’s allies, complex networks of offshore companies are making for choppy waters for authorities looking to confiscate high value assets.

It has been almost six months since the launch of a crack global anti-oligarch squad that has labored to find and seize luxury assets of politicians and others close to the Kremlin.

So far, the U.S. Treasury Department says, the squad known as the Russian Elites, Proxies, and Oligarchs (REPO) Task Force has worked with other governments to block and seize more than $30 billion belonging to those close to President Vladimir Putin.

“We will ensure that our sanctions continue to impose costs on Russia for its unprovoked and continuing aggression in Ukraine,” Treasury said in a statement marking the task force’s first 100 days.

The Treasury’s confiscatory crackdown is targeting many of the same hidden oligarch assets that the International Consortium of Investigative Journalists and its media partners exposed last fall as part of its sweeping Pandora Papers investigation . Based on more than 11.9 million leaked confidential financial records from 14 offshore service providers, the project revealed the secret offshore holdings of more than 130 billionaires from 45 countries including 46 Russian oligarchs.

The Pandora Papers’ Russia findings, along with those of past ICIJ projects on the offshore financial system (compiled into a single repository of stories known as The Russia Archive ), became a go-to resource for oligarch-asset hunters worldwide after Western governments rushed to impose economic sanctions on Russia after its invasion of Ukraine in February. While much attention has focused on the imposition of sanctions on billionaires, their family members and even a reported girlfriend of the Russian president, authorities have also moved to actually confiscate their luxury assets, a much bigger legal lift.

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The U.S., European and Ukrainian governments have suggested that the sale of yachts, private jets and other items would help finance Ukraine’s reconstruction from a war that has destroyed or damaged almost 1,000 health centers and will cost billions of dollars.

Imposing sanctions has almost become commonplace. The U.S. government says it has conducted rigorous research into hundreds of Russian oligarchs, politicians and their family members who have been sanctioned or banned from entering the United States.

But going the next step and confiscating assets is a complex legal process that can tie up governments for months – if not years. In some cases, officials struggle through labyrinthian offshore corporate structures to establish who owns what. In other cases, oligarchs are fighting back in court. Billionaire Alexei Mordashov recently failed to persuade a judge to allow him to regain access to his $68 million yacht, Lady M, on the basis that the yacht’s formal owner wasn’t him personally — it’s owned by a shell company.

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Here’s breakdown of official efforts to seize assets of oligarchs named in the Pandora Papers and other ICIJ investigations.

Timchenko’s yacht

In March, Italian authorities seized the 130-foot Lena yacht, believed to be owned by Gennady Timchenko, a former KGB schoolmate of President Putin.

The link was first reported by Pandora Papers media partners, and ICIJ subsequently revealed how attorneys in the British Virgin Islands and the United Kingdom, shipbuilders in Italy and bankers in Monaco had all helped Timchenko buy the Lena in 2010.

A checklist assembled by attorneys in the BVI to comply with local laws included reference letters for Timchenko from bankers and other details about the billionaire oil trader.

One secret document, a 2009 trust agreement , showed Timchenko controlled the BVI shell company that, according to public paperwork, owned the yacht. Months later, the company granted Timchenko, his friends and family the right to use the Lena “exclusively for pleasure purposes.”

In March 2014, the U.S. Treasury Department sanctioned Timchenko for his ties to Putin amid Russia’s efforts at the time to destabilize Ukraine. Months later, an internal document produced by law firm Alemán, Cordero, Galindo & Lee described Timchenko’s company as “low risk.”

Records show the shell company, Roxlane Corporate Ltd., continued for years to make payments in U.S. dollars for the yacht’s upkeep. Despite the sanctions against Timchenko, records show the BVI law firm paid $300 in September 2014 to cover the yacht’s “Annual Register Maintenance Fee” and another $250 in April 2016 for “VESSEL M/Y LENA” on behalf of his company.”

Chemezov family’s yacht

In March, Spain reported seizing the Valerie, a $153 million super-yacht owned by Sergei Chemezov, the billionaire chief executive of Russian defense contracting giant Rostec. Like Timechenko, the U.S. sanctioned Chemezov in 2014 following Russia’s invasion of Ukraine.

The Pandora Papers revealed how Chemezov’s wife, Ekaterina Ignatova, and his step-daughter, Anastasia Ignatova, were central players in the family’s offshore empire. Pandora Papers records show the family was worth more than $350 million and linked to nine companies registered in the BVI and Belize between 2005 and 2016.

One of the BVI companies owned the Valerie, according to ICIJ media partner IStories ’ reporting as part of the Pandora Papers project.

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Mordashov’s yacht.

In March, Italian authorities seized a luxury yacht linked to Russia’s richest man, Alexei Mordashov. Months later, an Italian court rejected a request to unfreeze the yacht, the Lady M. The court found that Mordashov was the true owner of the yacht — not the company whose name appears on official paperwork.

An ICIJ investigation based on the Pandora Papers trove revealed how Mordashov used a Cypriot holding company and more than 60 shell companies registered in the BVI to invest in European companies and, inside Russia, take big stakes in the coal, logging and media industries.

The Pandora Papers describe how accounting giant PwC’s Cypriot unit helped Mordashov build the offshore infrastructure of his business empire. ICIJ found the advisers also helped him and his life partner, Marina Mordashova, register companies to own the Lady M and a Bombardier luxury jet.

Pumpyanskiy’s yacht first to be auctioned

The first luxury yacht owned by a Russian oligarch and seized in response to President Vladimir Putin’s invasion of Ukraine has been sold at auction.

The Axioma, which is estimated to be worth up to $75 million, went on sale Aug. 23 in Gibraltar. Details are expected to follow as soon as later this week The 72 meter-yacht, which features a gymnasium and infinity pool, was previously owned by steel and oil and gas pipelines’ billionaire Dmitry Pumpyanskiy.

The United States sanctioned Pumpyanskiy and identified his yacht Axioma as “blocked property” earlier this month after  similar measures by countries in Europe and Asia. “The United States is taking additional actions to ensure that the Kremlin and its enablers feel the compounding effects of our response to the Kremlin’s unconscionable war of aggression,” the State Department said at the time.

Records from the International Consortium of Investigative Journalists’ Panama Papers investigation in 2016 revealed that Pumpyanskiy set up a shell company to buy the yacht in 2013.

Bankers at Credit Suisse in Geneva, Switzerland, helped Pumpyanskiy create a shell company in the British Virgin Islands to act as the yacht’s legal owner, records show. Pumpyanskiy bought the company with “business profits,” according to records.

The sale of the Axioma has reportedly drawn criticism because it is not being sold for the benefit of victims of the Ukraine war, but for that of the U.S. bank J.Morgan Chase & Co., which says the sanctioned billionaire reneged on the terms of a loan.

Update, Aug. 29: This story has been updated to include information about sanctioned Russian oligarch Dmitriy Pumpyanskiy’s ownership of the Axioma.

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Alexey Shved and Khimki Moscow advance to the VTB Final Four

Antonis Stroggylakis

Thanks to a phenomenal performance by Alexey Shved, Khimki Moscow swept Lokomotiv Kuban and became the first team of the VTB League Final Four.

By Eurohoops team/ [email protected]

Alexey Shved posted a double-double of 33 points and 10 assists leading Khimki Moscow to the VTB League Final Four after a 86 – 73 win over Lokomotiv Kuban and the 3-0 sweep in the quarterfinal series.

This “one-man show” offensive display by Shved came two days after he scored 32 points in the second game to help his team make the 2-0.

Egor Vialchev also scored 14 points for Khimki. Brian Qvale had 13 points, Frank Elegar 12 points plus five rebounds and Mardy Collins 12 points, seven assists for Lokomotiv that was leading 39 – 44 at halftime but crumbled down defensively shortly after the break.

With the score 45 – 51, Khimki dropped 18 points in seven minutes to close the third period up 63 – 58. Loko approached 63 – 61 but a barrage of 3-pointers by the hosts answered with a barrage of 3-pointers for the 78 – 62. With five minutes left to play, this advantage proved enough for Khimki.