Report: Germany Seizes First Russian-Owned Megayacht

German authorities have reportedly seized a megayacht belonging to the Russian oligarch Alisher Usmanov, one of 26 associates of Russian President Vladimir Putin who were sanctioned by the European Union on Monday.

According to Forbes, the $600 million megayacht Dilbar was seized at the yard of a prominent shipbuilder in Hamburg, where the vessel has been undergoing repairs. The report indicates that refit work on the yacht has been halted as a result of the asset seizure.

View entirety: Maritime Executive