The owner of a £38 million superyacht detained by the UK government at the start of Vladimir Putin’s invasion of Ukraine has launched a High Court bid to regain control of it.
The boat, named The Phi, was declared an “icon of Russian power” by then-Transport Secretary Grant Shapps in March 2022 after being boarded and detained by the National Crime Agency.
Impounding the 200ft cruiser, which boasts a wine cellar and freshwater swimming pool, was seen as a UK victory against the Putin regime.
“We’ve detained a £38million superyacht and turned an icon of Russia’s power and wealth into a clear and stark warning to Putin and his cronies,” said Mr Shapps. “Detaining The Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from connections to Putin’s regime.”
Legal proceedings have now been launched by the owner of the superyacht, Sergei Georgievich Naumenko, and two companies seeking to take back The Phi, currently moored at Canary Wharf.
The claimants want to overturn the detention order and are also seeking damages. When the yacht was first detained, members of the crew denied it was tied to Putin’s regime. Captain Guy Booth called its seizure “unjust”, saying: “It’s headline-grabbing, clickbait, attention-seeking”.
Mr Shapps posted a picture of himself standing next to the superyacht at Canary Wharf, promising more “robust action” against Putin.
Dalston Projects Limited is a company based in Saint Kitts and Nevis and carries the Maltese flag.
The High Court battle over it has been adjourned until a full hearing in July.
