Russia-Ukraine war: Vladimir Putin's glitzy $1 billion megayacht seized by the Italian government

The superyacht Scheherazade, which has been linked to Russian President Vladimir Putin. Those onboard deny it is Putin's and claim it is owned by a non-oligarch Russian owner. Photo / Getty

Vladimir Putin won't be holidaying on his alleged £570 million superyacht any time soon with the Italian government seizing the asset as part of an investigation earlier this week.

After spending two consecutive years under inspection and repair in the Marina di Carrara on the northern coast of Tuscany, the Scheherazade megayacht – rumoured to belong to the Kremlin – was placed in the water again on Tuesday (local time).

It was reported that its owner, widely rumoured to have connections to the Russian president, intended on using it to flee European waters to elude sanctions imposed on Russia.

The Scheherazade, which has been linked to Russian President Vladimir Putin, has been moored in the port at Marina di Carrara since late 2020. Photo / Getty

However, on Friday, Italian police boarded the 459-foot vessel – which comes equipped with six decks, two helipads, a judo gym, a five-metre aquarium, a swimming pool which turns into a dance floor, gold adorned bathrooms and a self-playing piano – and informed the crew the ship would not be setting sail.

In a statement on Friday, the Italian Ministry of Economy and Finance said the Economy Minister Daniele Franco had signed off on an order which prevented the ship from leaving port.

The Ministry said its investigation – which has been underway since March amid assertions the ship is owned by Vladimir Putin – brought to light the vessel had "significant economic and business connections" with "prominent elements of the Russian government and with others subject to EU sanctions".

The 459-foot vessel comes equipped with six decks, two helipads, a judo gym, a five-metre aquarium, and a swimming pool which turns into a dance floor. Photo / Getty

The New York Times reported that US officials named Russian President Vladimir Putin as one of the the "prominent elements".

It added the owner of the superyacht was a person that "threatened peace and international security" and whose actions undermined or threatened "the territorial integrity, sovereignty and independence of Ukraine".

In the statement, the Ministry did not reveal the name of the superyacht's owner, as the European Council needed to do that first.

It did however request the European Council add the owner's name to their list of sanctions.

Russian President Vladimir Putin pictured during a meeting in the Kremlin in Moscow on May 6, 2022. Photo / AP

The Italian government – who have a history of vigorously impounding assets which belong to sanctioned Russian oligarchs – confiscated the Scheherazade under European Union sanctions imposed over Russia's invasion of Ukraine.

It has been reported by Italian media in recent weeks the Scheherazade is actually owned by former chief of Russian oil firm Rosneft, Eduard Khudainatov, who is currently not the subject of any sanctions. The Russian oil tycoon is allegedly linked to Igor Sechin who is a close pal of the Russian President and currently sanctioned.

A report by the New York Times revealed the captain of the Marina di Carrara boatyard – where the superyacht has been dry-docked since late 2020 – has denied assertions the yacht is owned or used by the Russian President.