Putin’s Superyacht: A Tale of Luxury and Secrecy

Christian Baghai
3 min readFeb 14, 2024

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The Scheherazade is one of the most expensive and luxurious yachts in the world. It is also one of the most secretive and controversial. Believed to be owned by Russian President Vladimir Putin, the $700 million vessel has been seized by Italian authorities as part of the EU sanctions against Russia for its aggression in Ukraine. But who really owns the yacht, and what does it reveal about the state of affairs in Russia?

A Daring Investigation

Recently, a team of reporters from Radio Free Europe/Radio Liberty (RFE/RL) attempted to get a closer look at the Scheherazade, which is currently docked at a marina in La Spezia, Italy. The yacht is undergoing maintenance and refitting, while its crew is still on board and paid by a company registered in the British Virgin Islands.

The reporters tried to approach the yacht by boat, but they were followed by a drone and intercepted by the Italian coast guard. They were also questioned by the local police, who asked them to delete their footage and photos. The reporters refused to comply, and managed to keep some of their material.

The reporters also interviewed some locals and workers at the marina, who said that the yacht was a mystery and that they had never seen anyone visit it. They also said that the yacht was guarded by private security and that no one was allowed to get near it.

A Hidden Ownership

The Scheherazade is not the only yacht linked to Putin and his allies. According to a U.S. federal court case, there are three other superyachts that are part of a complex scheme to hide Putin’s real wealth and assets. The case was filed by Eduard Khudainatov, the former CEO of Russian state-owned oil company Rosneft, who claims to be the owner of the Scheherazade and two other yachts.

However, investigative journalists have alleged that Khudainatov is a straw owner who is acting on behalf of Putin and his cronies. They have also revealed that the yachts were built by a German company that has received lucrative contracts from the Russian government. The yachts are estimated to be worth over $1.5 billion in total, and feature amenities such as helipads, swimming pools, cinemas, and spas.

A Symbol of Injustice

The fate of the yachts is uncertain and depends on the outcome of the court case. They could be auctioned off or returned to their owners, depending on the evidence and the verdict. But regardless of the legal outcome, the yachts are a symbol of the corruption and wealth inequality that plague Russia, where millions of people live in poverty while the elite enjoy lavish lifestyles.

The yachts also show the hypocrisy and impunity of Putin, who portrays himself as a defender of national interests and a champion of the common people, while secretly amassing a fortune and indulging in luxury. The yachts are a reminder of the need for transparency and accountability in Russia, and the courage and persistence of those who seek to expose the truth.

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Christian Baghai
Christian Baghai

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