The Gibraltar government will auction off the superyacht Axioma, valued at $76 million and owned by a Russian billionaire subject to sanctions. The yacht was impounded after docking in Gibraltar in March.

According to The Guardian, this is the first luxury yacht to be sold since Western sanctions were imposed on hundreds of wealthy “Russians” after Russian President Vladimir Putin decided to launch a special military operation. especially in Ukraine.

However, this 72.5m-long yacht is not sold for the benefit of the Ukrainian people but to an American investment bank – JP Morgan. The bank said the yacht’s owner, billionaire Dmitry Pumpyansky, owes them more than $20 million.

This luxury superyacht has 6 luxury guest cabins, a swimming pool, a 3D cinema room, gym, Jacuzzi and a fully equipped spa.

Billionaire Pumpyansky, the yacht’s owner, is the chairman of steel pipe manufacturing company OAO TMK – a supplier to Russian energy company Gazprom. The 58-year-old billionaire, with an estimated fortune of $2 billion, is being punished by the UK, EU and US. He said Mr. Pumpyansky is one of the people close to Russian President Putin.

While dozens of yachts, suspected to be owned by billionaires under sanctions, have been confiscated or impounded around the world, the Axioma is the only one for sale.

Several governments, including the UK government, have called for the proceeds of the sale of the confiscated properties to be used to help Ukrainian refugees. But the money from the sale of the Axioma yacht was transferred to the American bank.