The administration of Prime Minister Gaston Browne has never hidden its desire to get a sanctioned Russian superyacht that was stranded in a local port out of its waters, given the political and legal implications of hosting such a hot piece of international property.
The Alfa Nero had pulled into a local port a few weeks after Russia launched its fight against neighboring Ukraine, but once western nations began to impose sanctions on Russia and Russian business interests, the vessel was left moored in Antigua’s Falmouth marina until authorities completed the legal work to get rid of it last week.
As the months of no action passed by, Antigua and Barbuda Prime Minister Gaston Browne began complaining about the $30,000 in taxpayer funds that had to be used to maintain the vessel. Health authorities were also worried about its malfunctioning sewage system, which had forced the crew to dump waste into the marine, affecting other moored boats.
Once all the legal paperwork for the sale of the vessel had been completed in recent weeks, authorities moved last Friday to auction off the 267-foot vessel to the rich and famous. When the auctioneer’s hammer finally signaled that bidding had been completed, it emerged that former Google Chief Executive Eric Schmidt’s pitch at $67.6 million was the highest, making him the new owner of the superyacht. There were two other bidders.
“We are pleased that we now have an owner, and the owner is now tasked with taking on all of the responsibilities to get the vessel ready and moving and, hopefully, they can do it quick enough,” Port Manager Darwin Telemaque told reporters on Friday. The port wants the vessel out of the marina before the peak of hurricane season, meaning that it must be fully functioning in case it has to head to a safe port in the event of an approaching storm.
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By way of an injunction, the previous owners had made a last-minute effort to stop the sale, but the Eastern Caribbean Supreme Court dismissed the challenge to allow the sale to proceed unhindered.
Browne has consistently said the proceeds of the sale will be deposited in the consolidated fund and used for developmental purposes. The main opposition party has, however, suggested that the money should be placed in an escrow fund just in case a later legal challenge to Antigua’s ownership and sale is mounted internationally, ensnaring this small Eastern Caribbean nation in the middle of Cold War politics.
The way for the sale was cleared after the Antiguan government completed all the legal transfer procedures earlier this year and became the legal owner of the yacht. Western nations were forced to lift sanctions on the vessel because of the change of owners. The vessel was worth about $80 million.
Ownership of the vessel was transferred to Antigua two months ago. Before then, the parliament had amended marine laws to allow for the sale of the vessel—this had not been done before because of sanctions.
