The Axioma, docked in Gibraltar, has been seized
(Picture: REUTERS)A Russian-owned superyacht worth £63million is set to be auctioned off after its owner failed to pay a £17million loan.
Dmitrievich Pumpyansky has lost the Axioma boat after it was seized in Gibraltar in March when US bank JP Morgan raised the alarm.
The yacht measures 72.5m and can sleep 12 people in six cabins, while also boasting a swimming pool, jacuzzi, spa, 3D cinema, jet skis and scuba diving equipment.
Gibraltar’s Admiralty Court will hold the proceedings on Tuesday and the Axioma is expected to sell for less than its estimated value as the auction will only be held on one day.
Proceeds are likely to go to JP Morgan, despite calls for monies to be directed to help refugees. The Axioma is the first boat seized since restrictions were imposed on Russians following the invasion of Ukraine.
Mr Pumpyansky has amassed a £1.84bn fortune as head of a company which supplies steel pipes to Russian-state owned gas firm Gazprom.
The 58-year-old has already faced sanctions from the UK, US and EU governments. He rented out the yacht to millionaires for up to £465,000 per week, plus expenses.
