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Hamburg authorities detain luxury yacht owned by sanctioned Russian

Published May 13,2022

The German authorities have halted a luxury vessel belonging to a Russian businessman subject to EU sanctions introduced following Moscow's invasion of Ukraine.

The Luna is the second megayacht to be halted at Hamburg's port since the authorities detained the Dilbar a month ago.

The Federal Criminal Police Office (BKA) confirmed the Luna's owner has been on the European Union's sanctions list since April 8, the authority told dpa. While the BKA did not state the man's name, it tweeted the owner is Farkhad Akhmedov.

Akhmedov, 66, is a Russian businessman active in the energy sector and local politics, the EU sanctions list says.

"He founded Tansley Trading, which supplied equipment to Russian gas producers and became a minority shareholder in Nortgas, an oil and gas company in Siberia, as well as Chairman of Bechtel Energy. He is close to the Kremlin and is a leading businessperson involved in economic sectors providing a substantial source of revenue to the Government of the Russian Federation," the EU's list states.

The Luna superyacht, valued at €400 million ($416 million), was detained as it is subject to the sanctions law.

Technically, when assets like the Luna superyacht are frozen, it means they may not be used for services, sold, used or rented, but has not been "seized or impounded by the German authorities."