The UK has seized its first superyacht in British waters as part of sanctions against Russia.
The £38m yacht, named Phi, is owned by an unnamed Russian businessman, but the government said its ownership is "deliberately well hidden".
Mr Shapps said it belonged to a Russian oligarch with "close connections" to Russian President Vladimir Putin, although he said the individual was not currently sanctioned. UK officials boarded Phi in Canary Wharf, east London on Tuesday. The vessel was in the capital for a superyacht awards ceremony and was due to depart at 12:00.Before the war, a superyacht, a megayacht, even a gigayacht was high on the shopping list for super-rich Russians.
While many of these boats have a price tag far in excess of £100m, they're relatively small compared to the total value of Russian sanctions.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK must seize chance to repair relations with EU, says thinktank headDirector of Chatham House says Britain’s role in Ukraine crisis is an opportunity to work more formally with Brussels
Read more »
UK must seize chance to repair relations with EU, says thinktank headDirector of Chatham House says Britain’s role in Ukraine crisis is an opportunity to work more formally with Brussels
Read more »
Air pollution levels return after first ‘zero-emission street’ in UK scrappedFindings show the trial, which ended six months ago, was ‘working’, green campaigner says
Read more »
9 best indoor water parks in the UK for a splashing day outIndoor water parks are a great way to get active with your little one. We round up the best ones for a splashing day out with the family.
Read more »
Revealed: Russian gas currently powers equivalent of 1.76m UK homesThis volume of gas supplied by Russia is equivalent to the annual usage for 1.76m UK households, enough to power the entire of Manchester, Birmingham and Liverpool put together.
Read more »
Snow may hit UK this week with temperatures plummeting by 10CThe Met Office said the country will become colder, cloudier and more unsettled from Monday
Read more »