American officials are investigating the ownership of a 700 million superyacht, believed to be owned by Russian President Vladimir Putin, which was recently seized by Italian police. The yacht, Graceful, was renovated while Russian soldiers were stationed in Kaliningrad, a Russian territory bordering Lithuania and Poland. The yacht’s transponder has been turned off. The yacht, which cost an estimated $50 million to build, can carry up to 28 people. The yacht, the Scheherazade, is a 460-foot superyacht that has been held in Italy since May 2022 in response to Russia’s invasion of Ukraine. It is believed to have ties to Putin’s yacht Kosatka, formerly named Graceful, which was impounded by the Italian government in May 2022. The newly exposed yachts are the 71-meter Victoria, valued at over 50 million, and its escort the 38-meter Orion, worth about 15 million. The yacht is currently moored in the Marina di Carrara on Italy’s Tuscany coast. It is also believed that Putin is the owner of a smaller superyacht called Olympia, valued at 22m.
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