A billionaire's luxury yacht sold at auction for $37.5 million

A court in the British territory of Gibraltar said yesterday evening that an unidentified buyer paid $ 37.5 million at an auction to buy a luxury yacht owned by Russian oligarch Dmitry Pampiansky.

The 73-meter Axioma became the first oligarchic yacht to change ownership as a result of the sanctions imposed on Russia for its invasion of Ukraine, according to the Gibraltar Chronicle.

The newspaper reported that the Malta-flagged yacht was seized at the request of the US bank "JP Morgan", which is seeking to repay a loan of $ 20.5 million from a company attributed to Pampiansky.

The bank sued to repay the loan after Pampianski was placed on the EU-UK war sanctions list, which led to the freezing of his assets.

The buyer made the highest bid of 63 bids received by August 23, in the sale organized by a British auction house, the newspaper said.

The newspaper wrote that the court had also accepted an additional payment of 505,000 euros for the accessories of the yacht and supplies of wine and alcohol on board, and the creditors now have 60 days to submit their claims to the court in Gibraltar.