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Oligarch-owned £63m superyacht is auctioned off - BBC Newsnight

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The first sale, since President Putin invaded Ukraine, of a sanctioned Russia oligarch's asset has been auctioned off after attracting 63 bids in Gibraltar.

The £63m ($73m) superyacht, was renamed from 'Red Square' to 'Axioma' and seized from steel billionaire Dmitrievich Pumpyansky following Western sanctions.

The floating palace can sleep 12 people and boasts a swimming pool, jacuzzi, spa, 3D cinema, jet skis and has space for 20 crew.

Axioma, a 72.5m vessel was seized in Gibraltar in March after US bank JP Morgan claimed owner Pumpyansky did not pay a £17m ($20m) loan.

Newsnight's Diplomatic Editor Mark Urban investigates the scope of Russian-owned superyachts around the world and how difficult it is to trace their ownership.

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World
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bbc, bbc news, news
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