The UK National Crime Authority has seized a $50 million superyacht owned by an unnamed Russian.
The vessel in question, which goes by the name of ‘Phi’, was detained in London’s Canary Warf as part of the sanctions imposed against Russia for its attack on Ukraine, as reported by the National Crime Agency (NCA).
Like the US and Europe, the UK has introduced a number of different sanctions against Russian oligarchs and businesses to increase economic pressure on Putin and the Kremlin.
However, this is the first superyacht the country has seized. It also marks the first detention of a superyacht in UK waters.
It was docked at Canary Wharf for a superyacht awards ceremony and was due to depart the capital at noon on Tuesday before NCA officers issued the notice of detention.