The Cabinet has granted permission to sell the $217 million yacht Royal Romance, owned by Viktor Medvedchuk, Ukraine’s Asset Recovery and Management Agency (ARMA) reported on Nov. 14.
This marks the first time in Ukraine's history that the government has regulated the sale of confiscated property abroad.
Currently docked in Croatia, the yacht has been under ARMA’s management since April 2022.
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It took one and a half years to finalize the procedure for the yacht’s sale outside of Ukraine. ARMA has estimated the yacht's value at EUR 200 million ($217 million).
In March 2022, Royal Romance was seized in Croatia. In April, the Lychakiv District Court of Lviv transferred the custody of the yacht to ARMA.
In December 2022, the agency announced that they had received confirmation from four international auction houses of their interest in organizing the sale of Royal Romance.
Read the original article on The New Voice of Ukraine