WSJ: Russian Yacht Costing Antigua, Barbuda $28K a Week

A $120 million Russian yacht, seized on behalf of U.S. interests as part of the sanctions imposed from the war in Ukraine, is costing the Caribbean dual-island nation of Antigua and Barbuda — which sports a GDP of $1.8 billion —  roughly $28,000-a-week to maintain, The Wall Street Journal reported Monday.

Christened the Alfa Nero, the football field-sized megayacht seized from Russian oligarch Andrey Grigoryevich Guryev, according to the US Treasury Department, serves as a “floating reminder of the West’s economic war against Russia and the difficulties in managing and offloading billions in seized Russian assets.” And “has also become a nightmare for this tiny country of 93,000,” The Journal reported.

In August 2022, when calls for sanctioning Russia were kicking off, a cohort of FBI agents early one morning took control of Antigua’s Falmouth Harbor, raiding the Alfa Nero. Almost six months later, back in March, the government of Antigua and Barbuda issued a warning that they planned to sell the yacht due to its “hazard” to maintain, The Guardian reported.

Read more at Newsmax© 2023 Newsmax. All rights reserved.

Stay Informed with KSFO


Subscribe to 560 KSFO's weekly eblast for the latest national and local news updates, exclusive contests, events and more.