Alisher Usmanov, a sanctioned Russian billionaire and Everton owner, had his megayacht seized as part of a crackdown on oligarchs close to Vladimir Putin.
On Monday, February 28, German officials froze the 512-foot Dilbar, described as Usmanov’s treasured asset.
The warship, which is thought to be worth £600 million, has been in shipyards in Hamburg, Germany, since late October for a refitting job.
The move is part of a European Union asset freeze on Usmanov, who was sanctioned in response to Russia’s invasion of Ukraine.
Dilbar was custom-built for Usmanov by German shipbuilder Lürssen and took 52 months to finish. It is one of the world’s largest yachts by volume and can hold over 100 passengers and crew in 58 cabins.
Usmanov’s multibillion-pound fortune includes shares in iron ore and steel giant Metalloinvest and consumer electronics company Xiaomi, as well as assets in telecommunications, mining, and media.
The European Union added Usmanov, an oligarch with ties to Vladimir Putin, to a list of sanctioned individuals on Monday.
‘On 28 February 2022, I became the target of restrictive measures imposed by the European Union,’ he wrote in a statement on the website of the International Fencing Federation, of which he is president.
‘I believe such a decision is unjust, and the basis for the sanctions is a combination of false and defamatory charges that have harmed my honor, dignity, and business reputation.’