In a decision issued on June 1, 2026, the United States Court of Appeals for the Second Circuit upheld an earlier ruling that former Rosneft chief Eduard Khudainatov and his company, Millemarin Investments, lacked the beneficial ownership interest required to contest the Lurssen yacht's forfeiture. The ruling effectively ends the claimants' remaining avenues to challenge the U.S. government's case.
A Final Court Decision
The appeal centered on whether Khudainatov and Millemarin could demonstrate a sufficient ownership interest in Amadea to participate in the forfeiture proceedings.
A three-judge panel affirmed the March 2025 decision of U.S. District Judge Dale Ho, who concluded that while Khudainatov retained legal title to the yacht, he did not hold the beneficial ownership interest necessary to establish standing before the court.
The judges agreed that legal title alone was not enough to contest the forfeiture and upheld the lower court's conclusion that Khudainatov acted as a "straw owner" while the yacht's economic ownership rested elsewhere. As a result, the government's forfeiture of Amadea remains in place and the long-running dispute over her ownership has effectively come to an end.
Why Amadea Was Seized
The case began in April 2022 when U.S. authorities seized Amadea in Fiji as part of Task Force KleptoCapture, a Department of Justice initiative created to enforce sanctions against Russian individuals and entities following Russia's invasion of Ukraine.
Federal prosecutors have consistently argued that sanctioned Russian billionaire Suleiman Kerimov was the yacht's true beneficial owner and that a network of companies was used to conceal his interest in the vessel.
Kerimov was sanctioned by the U.S. Treasury Department in 2018. Authorities later alleged that ownership arrangements connected to Amadea were structured to shield assets linked to him from sanctions enforcement. The seizure was challenged in Fiji by Millemarin Investments, but the Fijian Court of Appeal ultimately cleared the way for the motor yacht to be transferred to the United States, where the dispute continued through the federal court system.
The Ownership Dispute
At the center of the case was a September 2021 Memorandum of Agreement that outlined the sale of Amadea for €225 million to a Cayman Islands company established shortly before the transaction. Court filings showed that the buyer obtained the right to use the yacht and assumed responsibility for operating expenses following an initial payment of €45 million.
Lawyers representing Khudainatov argued that the purchasing company was ultimately controlled by him and that he remained the yacht's beneficial owner. Federal prosecutors disputed that interpretation, alleging that Kerimov controlled the purchasing structure and that Khudainatov served as a nominee owner while economic control rested with the sanctioned businessman.
Legal Battle Reaches Its End
The U.S. Department of Justice formally filed its civil forfeiture complaint in October 2023 after Amadea had been relocated to San Diego. Several months later, prosecutors requested permission to sell the yacht before the ownership dispute was fully resolved, arguing that maintaining the vessel was costing the U.S. government more than $7 million annually, with monthly expenses reportedly averaging around $600,000.
Judge Ho's March 2025 ruling cleared a major hurdle for the government's case. Following that decision, a final forfeiture order was entered after no other claimant successfully established an ownership interest in the vessel. In August 2025, U.S. authorities announced that Amadea would be sold through a sealed-bid auction administered by National Maritime Services, with Fraser appointed as promotional agent.
The yacht was sold in October 2025, although neither the buyer nor the final sale price was publicly disclosed.
One of Lürssen's Largest Modern Deliveries
Delivered in 2017 by Lürssen, Amadea was designed by Espen Øino International, with interiors by Zuretti Interior Design and naval architecture developed by the shipyard. The 106m superyacht spans a gross tonnage of 4,402GT and accommodates up to 16 guests across eight staterooms, supported by a crew of 36.
Amenities include a certified helipad, infinity pool, private owner's spa, guest spa, and two elevators. Powered by twin MTU engines, Amadea has a top speed of 20 knots, a cruising speed of 13 knots, and a reported range of approximately 8,000 nautical miles.
Amadea remains one of the world's largest superyachts, currently ranked 67th in the YachtBuyer YB100 by gross tonnage and 58th in the Top 100 by length rankings. For a broader look at how she compares with other giants of the industry, see YachtBuyer's feature on the World's Biggest Yachts.
While the yacht herself has changed hands, the court's latest decision closes one of the most significant sanctions-related ownership disputes ever to involve a superyacht, ending a legal battle that has spanned multiple jurisdictions and several years of litigation.
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