ROYAL ROMANCE

General information

Course/Position

Latest news

Croatian court has canceled seizure of oligarch yacht which remains detained

A Croatian court has canceled the seizure of the 'Royal Romance' of Viktor Medvedchuk's collaborator due to the lack of an indictment in a criminal case from the Office of the Prosecutor General of Ukraine. This decision threatened to lose an asset worth $200 million , which could significantly support the Ukrainian budget and army. On June 25, the District Court of Split ruled to cancel the arrest of traitor Viktor Medvedchuk's yacht. The decision stated that the reason for the arrest was the absence of an indictment in a criminal case from the Office of the Prosecutor General . In April 2022, the Split District Court seized Medvedchuk's property at the request of the Office of the Prosecutor General of Ukraine. The seizure was extended six times , but in May 2024, the selected auction house, which was supposed to sell the asset, refused to make a deal due to the work of Medvedchuk's lawyers from the international law firm Steptoe . Delays in the investigation of criminal proceedings against Medvedchuk led to the fact that the arrest of the yacht was canceled . The absence of an indictment was the key reason for this decision. Thus, ARMA cannot enforce national court decisions to sell the vessel, and Ukraine risks losing this expensive asset. The yacht is valued at $200 million. The Asset Recovery and Management Agency (ARMA) put up for sale the seized ATVs of collaborator Viktor Medvedchuk and contraband electronics, including smartphones and tablets, on the Prozorro.Sale platform. The acquisition of these assets will bring significant financial revenues to the state and contribute to the development of the economy. PGO: Medvedchuk's yacht in Croatia seized indefinitely However, the yacht remains under indefinite seizure in line with EU sanctions, the Prosecutor General's Office (PGO) emphasizes under two proceedings against the former MP, in which the specified person has the status of a suspect or accused. The prosecutors from the Prosecutor General's Office, together with the Ministry of Foreign Affairs, continued to take measures to confiscate and sell the ship. Since 2022, the court has been considering an indictment on the facts of high treason and violation of the laws and customs of war by the former MP. In another proceeding - on the facts of assistance to the activities of terrorist organizations "L/DPR" - a pretrial investigation has been completed. Through the joint efforts of the PGO, the Ministry of Foreign Affairs and thanks to the evidence base collected by the SBU and the SBI, the EU institutions and authorized persons were provided with the information necessary to make a decision on imposing sanctions on the assets of the former MP, including the yacht Royal Romance. As a result, on May 27, the European Union imposed personal sanctions against the suspect and his wife. The 'Royal Romance' is currently under seizure on the basis of indefinite sanctions in the port of Trogir and cannot leave the EU territory. Joint work continues with the Ukrainian Ministry of Foreign Affairs and international partners to develop a mechanism for its confiscation and sale.

Seized yacht granted a certificate of the right to fly the state flag of Ukraine

The 'Royal Romance' belonging to the oligarch Viktor Medvedchuk, has been granted a certificate of the right to fly the state flag of Ukraine on May 15, 2024, and the corresponding changes have already been registered with the International Maritime Organization (IMO). This statement was made by the Ukrainian Asset Recovery and Management Agency (ARMA). Through joint efforts of the Asset Recovery and Management Agency and the Shipping Administration, the seizedluxury yacht Royal has been granted the status of a Ukrainian vessel, which means that the vessel is under Ukrainian jurisdiction. According to Shipping Administration Head Yevhen Ihnatenko, the corresponding changes were registered with the IMO. This will facilitate the further sale of the seized yacht and the transfer of the proceeds to the state budget of Ukraine. The Dutch auction house, Troostwijk Auctions, won the ARMA’s tender to auction the seized yacht, but refused to sign a further agreement to organize the auction. The yacht, worth an estimated 200 million Euros, was seized by Croatian authorities in March 2022 in relation to EU sanctions imposed on Medvedchuk.

Superyacht of pro-Russian oligarch may be auctioned

The Dutch auction house Troostwijk Auctions may auction the 'Royal Romance' of the pro-Russian oligarch Viktor Medvedchuk from Ukraine. This was decided by the Ukrainian government agency Asset Recovery and Management Agency (ARMA). According to Troostwijk director Arno Hendrikse, this is the most expensive object that his auction house has ever auctioned.