(CMR) German authorities have seized the world's largest superyacht in Hamburg after determining that it belongs to the sister of Russian oligarch Alisher Usmanov.
The 512ft-long superyacht Dilbar is flagged in the Cayman Islands and registered to a holding company in Malta.
According to EU officials, the owner of the yacht ‘Dilbar' is Navis Marine Ltd. (Cayman Islands), whose shareholder is Almenor Holdings Ltd. (Cyprus). All shares in that holding company are held by PomerolCapital SA (Switzerland) in trust for the benefit of ‘The Sisters Trust.'
The Federal Criminal Police Office said the vessel was seized after ‘extensive investigations.' The police said despite ‘offshore concealment,' they found that the owner was Gulbakhor Ismailova, Mr. Usmanov's sister.
The yacht measures some 511 feet and 15,917 tons, making it the largest motor yacht in the world by gross tonnage. It has two helipads and one of the biggest indoor pools ever installed on a yacht, according to the U.S. Treasury Department, which puts its estimated worth between $600 and $735 million.
German authorities reportedly worked in Brussels to ensure that European Union sanctions applied to the owner.
The yacht, which is being held at a shipyard in Hamburg, can no longer be sold, rented, or loaded.
The United States and the EU last month announced economic sanctions against Mr. Usmanov over his ties to Russian President Vladimir Putin and in retaliation for the invasion of Ukraine.