In a significant development for the yacht industry, sanctions on the 136m (446ft) Lürssen superyacht FLYING FOX have been lifted, opening the door for potentially unrestricted global charter operations.
Previously managed by Imperial Yachts, FLYING FOX — sitting at #18 in the world's biggest yachts according to the YachtBuyer YB100 — came under scrutiny in 2022 amidst the Russia-Ukraine conflict, resulting in sanctions against the company and its CEO. The US Department of Treasury identified the motor yacht as ‘blocked property’ tied to Imperial Yachts.
Known as one of the most expensive superyachts on the charter market, starting at €3,000,000 per week, the Lurssen yacht was available for charter for UK and EU citizens beginning in January 2024, however, restrictions remained for US citizens and waters.
Recent Office of Foreign Assets Control changes to the Sectoral Sanctions Identifications List (SSI) and the Specifically Designated National List (SDN) have removed superyacht FLYING FOX from the latter. Initially sanctioned under Executive Order 14024 due to its association with Imperial Yachts and alleged links to sanctioned Russian entities, the superyacht is now free from these restrictions.
Delivered by Lürssen in 2019, the 9,022 Gross Tonnage (GT) superyacht FLYING FOX features Espen Øino exterior design and Mark Berryman interiors. The yacht can accommodate up to 22 guests in 11 staterooms, including a master suite on the upper deck with a beauty room, and his-and-hers dressing rooms. Additional superyacht amenities include a 400-square-meter, two-floor spa with a cryotherapy chamber, a 12-meter swimming pool, and dual helipads.
Impact of Sanctions on Russian-Owned Superyachts
In response to the ongoing conflict, numerous other Russian-owned superyachts were arrested or had their owners sanctioned within EU and US waters, among others. To escape these sanctions, many of these superyachts fled to international waters and subsequently relocated to places like Göcek, Turkey, or the United Arab Emirates, with many still moored there.
One of the most significant sanction cases, however, involves the Oceanco superyacht ALFA NERO, seized in Antigua in August 2022, which currently stands out as one of the only yachts sold while under sanction because of the Russia-Ukraine war.
Several other Lurssen superyachts also faced sanctions or were arrested due to the conflict. Among them is the 106m (349ft) superyacht AMADEA, seized in Fiji in April 2022, with its owner also sanctioned. Another notable case is the 136m (446ft) superyacht CRESCENT, currently moored in Spain, which was similarly detained as a result of the conflict. The 9,034 GT yacht currently sits at #17 in the YB100 world's biggest yachts.
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