Super yacht seized from Russian businessman to be auctioned | Al Jazeera

A luxury yacht formerly owned by sanctioned Russian businessman Dmitry Pumpyansky will be sold at auction on Tuesday after the billionaire failed to repay JPMorgan Chase & Co. a loan, according to an auctioneer’s website.

It will be the first superyacht to be publicly auctioned since Russia’s invasion of Ukraine pushed authorities to freeze luxury vessels in ports around the world, Nigel Hollyer, a broker at auction house Howe Robinson Partners, told Bloomberg by phone.