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SBU: Ukraine nationalizes Russian oligarch's fishing ship worth almost $25 million

by Nate Ostiller and The Kyiv Independent news desk May 28, 2024 10:59 PM 1 min read

Operatives from the Security Service of Ukraine (SBU) on March 24, 2017. Photo for illustrative purposes. (Presidential Office)

This audio is created with AI assistance

Ukraine's High Anti-Corruption Court approved the Justice Ministry's claim to nationalize a fishing ship belonging to Russian oligarch Alexander Verkhovsky worth more than Hr 1 billion ($24.7 million), the Security Service of Ukraine (SBU) said on May 28.

Verkhovsky is a former Russian lawmaker who has been sanctioned by Ukraine. He amassed a fortune that Forbes Russia estimated in 2021 to be around $600 million through a fishing empire in Russia's Far East.

According to the SBU, Verkhovsky is part of the Kremlin's inner circle.

The nationalized ship was completed at a shipyard in Mykolaiv prior to the beginning of the full-scale invasion and was subsequently seized by the SBU. It will now be transferred to the Ukrainian state.

Earlier in May, a luxury yacht belonging to Ukrainian oligarch Viktor Medvedchuk was officially transferred to the Ukrainian state.

The Royal Romance, a 92-meter (300-foot) luxury yacht worth an estimated 200 million euros ($218 million), was seized by Croatian authorities in March 2022 in relation to EU sanctions imposed on Medvedchuk.

The profits from the yacht's sale will be redirected to the Ukrainian state.

Authors: Nate Ostiller, The Kyiv Independent news desk

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