In what is believed to be another instance of "rules only apply to regular people, not the rich," a sanctioned megayacht, estimated at over $700 million and believed to be owned by Russian President Vladimir Putin, might be getting ready to flee arrest.
Scheherazade is one of the biggest, most expensive, most luxurious, and most controversial privately-owned superyachts afloat today. By size and volume, it's technically a megayacht, and it's believed to have been commissioned as a Christmas gift for Putin, at a total cost between $600 million and $1 billion, depending on which account you choose to believe. He didn't pay for it; his associates did.
The interiors of Scheherazade were never shown to the public except on one occasion in leaked photos, but urban legend has it that it lives up to that reported price tag, with gold-plated toilet paper holders, a transformable pool, and unbelievable quantities of precious metals, stones, and woods in the finishes. Scheherazade is big and flashy in a way in which few other vessels are, but it's its ownership that makes it noteworthy today.
Because Putin is believed to be the direct beneficiary of Scheherazade, despite the fact that the CEO of Rosneft Eduard Khudainatov claimed ownership, the megayacht was seized in Italy in May 2022. Authorities swooped in and seized it just as it had refueled, refloated, and was getting ready to sail off, and it's been kept in dry dock since.
Curiously, even though it's frozen and in the custody of the Italian government, work on Scheherazade has continued uninterrupted. Under the current sanctions against Russian oligarchs, local companies and authorities are not allowed to provide services of any kind for assets believed to belong to the same oligarchs. Yet Scheherazade has been undergoing a refit, with authorities saying that the "owner," whoever he might be, is footing the bill.
Photo: Charl van Rooy for Superyacht Times
A new report by eSysman SuperYachts claims that work on the megayacht is completed. A source close to the yard reveals that plans include a relocation of Scheherazade out of dry dock and into the marina.
The choice to refloat it is no accident, either: the same source notes this would allow the megayacht to "easily slip out of the shipyard with little notice." In simpler terms, Scheherazade is getting ready to flee arrest, and it might be doing so while playing by the rules set up by the Italian government.
Controversial ownership aside, Scheherazade is a most impressive vessel, even if far from a subtle one. It was delivered by luxury shipyard Lurssen in 2020 and measures 140 meters (459 feet) in total length, with twin diesel MTU engines that take it to speeds of 20 knots (23 mph/37mph), out-of-this-world luxury amenities, and accommodation for 40 guests and 94 crew.
As per the same report, it's even more impressive now that the refit is complete, boasting an additional 2 meters (6.5 feet) at the stern, for a total of 142 meters (466 feet) of length. If the above report checks out, Scheherazade's disappearing will be an even more impressive trick than David Copperfield's 1983 vanishing of the Statue of Liberty.
Elena has been writing for a living since 2006 and, as a journalist, she has put her double major in English and Spanish to good use. She covers automotive and mobility topics like cars and bicycles, and she always knows the shows worth watching on Netflix and friends. Full profile
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