Kyiv, Ukraine (FFN) — A luxury yacht once owned by a sanctioned Ukrainian oligarch is at the center of a high-stakes legal battle that could determine whether Ukraine can use the proceeds to fund its war effort.
The 93-meter Royal Romance was seized by Croatian authorities in 2022 at the request of Ukrainian prosecutors. The plan was to sell the vessel and use the estimated $200 million to bolster Ukraine’s defense against Russia.
However, a series of legal setbacks has cast doubt on the yacht’s future. A Croatian court recently overturned the seizure, citing a lack of a sufficient indictment from Ukrainian prosecutors. This development has raised concerns that the yacht could be returned to its original owner, Viktor Medvedchuk, a former Ukrainian politician accused of treason.
Ukrainian officials are fighting to keep control of the yacht, arguing that it was acquired through illicit means. They have appealed the Croatian court’s decision and are exploring other legal avenues to secure ownership.
The battle over the Royal Romance is a microcosm of the challenges Ukraine faces in recovering assets allegedly stolen by corrupt officials. With the war entering its second year, the stakes are high for both the government and the Ukrainian people.
Yacht: ROYAL ROMANCE
- Builder: FEADSHIP
- Launched: 2014
- Delivered: 2015
- Status: Delivered
- Length: 92.50m
- Beam: 14.30m
- Draught: 3.85m
- Gross Tons: 2933
