Italy is now moving along with sanctions against Russian oligarchs, with The Guardian reporting that authorities here have seized $152 million worth of assets from just four known Putin associates. Among the goods seized are luxury villas and condos, and two of the world’s most iconic superyachts, the Lena and Lady M.
Lena, a 38.5-meter / 126-foot, $55 million superyacht delivered by Sanlorenzo in 2010, belonged to Gennady Timchenko and was in the port of San Remo when authorities moved in on it. Powered by twin MTU engines, Lena can hit top speeds of 29 knots (32.2 mph / 51.8 kph). Specifics about it were never made public, since it was not available for charter; but it is known that Lena underwent a refit in 2020.
Lady M, the more expensive of the pair, is also bigger and newer: measuring 65 meters / 213 feet, it was delivered by Palmer Johnson in 2013, and is estimated at $71 million. With a design by Nuvolari and Lenard, Lady M is the largest aluminum motor yacht ever built in the United States, offering accommodation for 12 guests in six luxurious staterooms, and 14 crew. The owner of Lady M is Russia’s richest man, Alexei Mordashov, who had it docked in the port of Imperia when it was seized.
According to various officials both in the EU and the U.S., this is just the beginning. As President Biden said in his recent State of the Union address, “We are joining with our European allies to find and seize your yachts, your luxury apartments, your private jets. We are coming for your ill-begotten gains.”