Russian entrepreneur Alexei Inkin sues Croatia demanding 35 million euros due to the arrest of Royal Romance. This gorgeous yacht, estimated at about 130 million euros, once belonged to the family of Viktor Medvedchuk. However, it is pledged in the Croatian port of Trohir for two years.
When, on March 16, 2022, the Lychakiv District Court of Lviv decided to arrest Medvedchuk's property, the Royal Romance yacht was in the port of Ryek in Croatia. At the request of the Ukrainian Prosecutor's Office, in May 2022, the Croatian authorities transferred it to the port of Trogir and blocked it. For almost two years, the Croatian courts have considered the confiscation of the yacht and its transfer to Ukraine. According to Croatian media, the judges of the district court Split have repeatedly appealed to Ukraine to provide the necessary information for decision -making in this case.
The process unfolded on November 14, 2023, when the Government of Ukraine improved the procedure for the sale of arrested assets, including movable property located abroad. The corresponding changes were made to Government Resolutions No. 719 and No. 558. According to the new rules, the sale of arrested property will now be carried out exclusively on the electronic platform Prozorro and in accordance with European legislation.
In January 2024, the District Court of Split decided to confiscate the yacht and transfer it to the Ukrainian asset management agency obtained by corruption and other crimes (ARMA). And on February 16, 2024, the Government of Ukraine approved the sale of 92-meter Royal Romance. Thus, the fate of the yacht was solved.
Medvedchuk seems to be going to fight for this pearl until the last. At the beginning of this process, in March 2021, Fregata Marine (by the final beneficiary of which is considered to be Medvedchuk's wife, Oksana Marchenko) sold the Royal Romance yacht by Lanelia Holdings.
This change of the owner occurred after the NSDC on February 19, 2021 imposed sanctions against Victor and Oksana Medvedchuk's property. Then the NSDC Secretary Alexei Danilov noted that sanctions apply to all property assets of the family. However, this did not stop Medvedchuk from changing the owner of the yacht to Alexei Inkin. The formal ownership of the yacht, as well as the lack of international sanctions, allowed the Russian Inkin to appeal the legality of arrest and confiscation.
The yacht was arrested as part of criminal proceedings on the accusation of Medvedchuk of state treason and the assistance of a terrorist organization. Inkina's lawyers claim that this is due to the case of coal purchase in ORDLO in 2015. As a result of the occupation of the Donbass, Ukrainian thermal power plants were deficient anthracite. Energy generating companies were forced to buy it in the world market, in particular in South Africa. According to the SBU, the mediation of Medvedchuk organized the supply of coal from temporarily occupied territories to state -owned enterprises of Ukraine.
Alexei Inkin's defenders from Gajski, Grlić, Prka and partners claim that there are no evidence to confirm the possibility of confiscation of yacht and its transfer to Ukraine. According to them, the yacht was arrested in Croatia according to the decision of the district court of split to ensure the collection of illegally received profit with Medvedchuk from doubtful contracts for the purchase of coal for Ukraine. The price of this issue is estimated at about three billion hryvnias or about 165 million euros. However, according to Inkin's lawyers, which are quoted by the Croatian media, there is no clear evidence that he actually had this illegal profit. Defenders also pay attention to the fact that the Ukrainian prosecutor's office did not file any accusations of receiving Medvedchuk property benefits, nor to him or other persons who could be involved in these dubious actions.
Inkina's lawyers emphasize that their client is not even suspected that he bought a yacht with the help of illegally consumed funds and resigned it to someone else to conceal these illegal income. According to the Russian businessman, the lack of any illegal earnings is a key argument against blocking this precious yacht.
In his appeal, Inskin emphasizes that the yacht was built from 2011 to 2015, while the SBU's case concerns the events that took place in 2015. Therefore, attorneys come to the conclusion that the yacht cannot be related to the dubious contracts under which the Ukrainian authorities are investigating Medvedchuk's case.
In addition, Inkin believes that the sanctions imposed on it by the Ukrainian authorities do not apply to the countries of the European Union. Its Fregata Marine, as well as Inkin, Lanelia Holdings, which has purchased a yacht, is based on the Marshall Islands and do not fall under these sanctions.
It is these facts that make up the main arguments in appeal against the arrest and confiscation of the yacht, which will now consider the extrajudicial panel of the District Court in Split.
In his claim, the Inkin also requires compensation for the losses that he suffered due to the blocking of the yacht by the authorities of Croatia since the spring of 2022. The amount of these losses, according to Inkin, consists of the cost of maintaining and mooring the yacht for two years, as well as the lost benefit from its use in the form of renting. Inkina's lawyers also reported that if the Court of Appeal does not satisfy their statement and will still be transferred to Ukraine, then they will require compensation in full of its value - 130 million euros.
For Ukraine, this case with Yakht Medvedchuk is of great importance. If Kiev manages to successfully realize the confiscation and sale of this vessel, it will open the way for many such operations with Putin's blocked property and his Ukrainian and Russian accomplices. And this is big money. According to media reports, sanctions are now imposed on at least 13 Russian oligarchs worth at least $ 3.5 billion.
