The government today announced it has ordered its first detention of a superyacht in UK waters.
The £38m vessel is owned by an unnamed Russian businessman, the ownership of which ministers said is “deliberately well hidden”.
The luxury ship was in London for a superyacht awards ceremony and was due to depart at noon on Tuesday.
It comes as peace talks are underway over the war in Russia and Ukraine.
The transport secretary described the move as “a clear and stark warning to Putin and his cronies”.
Phi, a vibrant blue superyacht, is reported to be double the size of the other boats docked around it at Canary Wharf, east London.
The 58.5m-long ship features an “infinite wine cellar” and a “patented” freshwater swimming pool.
Speaking to the PA news agency, Grant Shapps said: “Now the ship is being held, it won’t be going anywhere.
“It was here for refit ... and it’s just another indication that we will not stand by whilst Putin’s cronies are allowed to sail around the world in these kinds of yachts and people in Ukraine are suffering.
“When you see what he’s doing to Ukraine, when you see what he’s doing to people’s lives, it can’t be right to have a yacht like this here in London, able to just sail away and that is why we’ve impounded it, and denied it ability to go anywhere right now, and it’s another indication of how seriously we take these matters.”
He added: “Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from connections to Putin’s regime.”
The Department for Transport (DfT) worked alongside with the National Crime Agency and the Border Force Maritime Investigation Bureau to identify and detain the vessel.
It refused to reveal the name of its owner, stating that he is “a Russian businessman”.
The boat is registered to a company based in the Caribbean dual-island nation of Saint Kitts and Nevis, and carries a Maltese flag.
The DfT said it is “looking at a number of other vessels” and hopes its “strong stance sends an example to international partners”.
