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Seizure of superyacht was lawful

The UK’s freeze of the unsanctioned Russian tycoon Sergei Naumenko’s £38 million ($49 million) 'Phi' was lawful, a London court ruled in a boost to the government’s attempts to get tougher on wealthy Russians and encourage them to speak out against Russian President Vladimir Putin’s government. The court rejected the challenge by the property developer who hasn’t been sanctioned, as it ruled in favour of extending the 2022 freeze of the “Phi.” Naumenko had sued the UK’s Department of Transport saying he never engaged in political activities, has no connections with Putin, and that the boat was detained by the UK just to look tough.

Russian tycoon wants his superyacht back

Sergei Naumenko, a Russian property developer, wanted his "Phi" back and was suing the UK's transport department to free the vessel and is seeking undisclosed damages according to a high court claim document filed on May 10, 2023. The superyacht has been caught in a legal tug-of-war between the UK government and the Russian business tycoon as the war continues in Ukraine. Sergei Naumenko is listed as the beneficial owner of the "Phi." The vessel was seized by UK authorities after the start of the Russian war against the Ukraine. The yacht has been moored in London's Canary Wharf since the end of 2021.

Detention in London

The 'Phi' has detained by the police at London’s Canary Wharf in the morning of March 29, 2022. The ship had arrived in the port on Dec 10, 2021, en route from Amsterdam. The Department for Transport, which worked with the National Crime Agency and Border Force to identify the vessel, confirmed the yacht was registered to a company based in St. Kitts and Nevis but sailed under the Maltese flag.