The yacht is valued at $300 million.

As part of ongoing efforts to sanction and punish Russia for its ongoing invasion of Ukraine, countries around the world have begun seizing property and luxury vehicles owned by Russia’s wealthiest elite. The hope is that seizing assets from the wealthiest Russians will disincentivize them from giving financial support to Russian President Vladimir Putin and the invasion effort.

The latest seizure occurred this week in Fiji, where local authorities seized the superyacht Amadea, which is owned by Russian oligarch Suleiman Kerimov. The Amadea is one of the largest yachts in the world, measuring in at 106m long and 18m high, and based on estimates from the United States Department of Justice, is valued at approximately $300 million USD.

“Last month, I warned that the department had its eyes on every yacht purchased with dirty money,” Deputy Attorney General Lisa Monaco wrote in a statement. “This yacht seizure should tell every corrupt Russian oligarch that they cannot hide, not even in the remotest part of the world. We will use every means of enforcing the sanctions imposed in response to Russia’s unprovoked and unjustified war in Ukraine.”

This is the second major yacht seizure in recent memory, with the most recent one being last month’s seizure of a vessel owned by Russian billionaire and business tycoon Alisher Usmanov by German authorities. This vessel, the Dilbar, was even larger than the Amadea, and is valued at approximately $735 million USD.