Russian billionaire loses world’s largest yacht worth $820m

Russian billionaire Alisher Usmanov had his yacht seized as English Premier League club Everton “suspended with immediate effect” sponsorship agreements with several companies in which one of Vladimir Putin’s “favourite” oligarchs has a stake following Russia’s invasion of Ukraine.

This week the European Union seized Usmanov’s 512-foot (156m) mega yacht Dilbar, which is valued at approximately $820 million, according to Forbes.

The vessel, purchased by Usmanov in 2016, was custom built over more than four years and was sitting in Blohm+Voss’ shipyard in Hamburg, in northern Germany, when it was seized.

German shipbuilder Lurssen made Dilbar and describes it as “one of the most complex and challenging yachts ever built, in terms of both dimensions and technology”. Forbes reports it has the largest swimming pool ever built into a yacht as well as two helipads, a gym and beauty salon.

Dilbar is reportedly the world’s biggest yacht by volume, weighing a staggering 16,000 tonnes.

Wowza. (Photo by: Peter Titmuss/UCG/Universal Images Group via Getty Images)
Who wants to ride on this? (Photo by Clive Brunskill/Getty Images)

Meanwhile, football club Everton is cutting ties with Usmanov’s company USM Holdings, which sponsors Everton’s training ground, with an initial five-year deal announced in 2017.

It also has an option on naming rights for the Toffees’ new stadium — a deal worth $55 million to the Merseyside club.

“The club can confirm that it has suspended with immediate effect all commercial sponsorship arrangements with the Russian companies USM, Megafon and Yota,” said an Everton statement.

The 68-year-old Usmanov, an associate of Putin, had already had his assets frozen by the European Union as part of sanctions imposed in response to Russia’s invasion of Ukraine.

Everton added it was “shocked and saddened by the appalling events unfolding in Ukraine” as it called for a “tragic situation” to end as soon as possible.

The Toffees have a Ukrainian player in Vitalli Myolenko, with their statement saying they were providing the defender and his family with our “full support” and “will continue to do so”.

An update in the Official Journal of the European Union said Usmanov, a long-time business partner of Everton owner Farhad Moshiri, was among the 26 individuals targeted with sanctions on Monday.

Usmanov contested the EU punishment while announcing Tuesday he was stepping aside, for the time being, from his position as president of the International Fencing Federation (FIE).

“I believe that such decision is unfair, and the reasons employed to justify the sanctions are a set of false and defamatory allegations damaging my honor (sic), dignity and business reputation,” he wrote in a statement posted on the FIE website.

“I will use all legal means to protect my honor (sic) and reputation.

“I hereby suspend the exercise of my duties as the president of the International Fencing Federation effective immediately until justice is restored.”

Alisher Usmanov has close ties to Putin.

The EU declaration said restrictive measures included “an asset freeze and a prohibition from making funds available to the listed individuals and entities”.

Describing Usmanov as someone with particularly close ties to Putin, it added: “He has been referred to as one of Vladimir Putin’s favourite oligarchs.

“He is considered to be one of Russia’s businessmen-officials, who were entrusted with servicing financial flows, but their positions depend on the will of the President.”

One of Vladimir Putin’s closest allies is facing even more troubles as he gets targeted because of Russia’s horrifying invasion of Ukraine.

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This content was originally published here.

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