Gibraltar seized a $75 million super-yacht owned by a sanctioned Russian oligarch, the local government said

• Gibraltar’s government said Monday it seized a $75 million yacht owned by a Russian oligarch.
• The government told Insider the yacht, Axioma, is owned by billionaire businessman Dmitry Pumpyansky.
• Axioma was previously docked in Antigua, in the Caribbean, before it sailed to Gibraltar. 

A $75 million super-yacht owned by a sanctioned Russian oligarch was seized upon docking in Gibraltar, the local government said.

The 240-foot Axioma is owned by Russian businessman Dmitry Pumpyansky, the government of Gibraltar, a British overseas territory on Spain’s south coast, told Insider.

Pumpyansky, who has a net worth estimated at $1.1 billion, is the owner of Russia’s largest steel pipe maker, TMK, according to Forbes. His assets were frozen by the UK and the EU as part of sanctions imposed last week over Russia’s invasion of Ukraine.

Axioma is valued by SuperYacht Fan at $75 million. It was previously docked in Antigua, an island in the Caribbean, until it set sail on March 3. It arrived in Gibraltar 18 days later, according to ship-tracker Marine Traffic.

In a statement Monday, Gibraltar’s government said Axioma was “confirmed to be the subject of an arrest action by a leading international bank in the Supreme Court of Gibraltar.” It added: “The vessel is now subject to arrest by the Admiralty Marshal until further order.”

In a later statement to Insider, the Gibraltar government said: “The owner of the yacht is Dmitry Pumpyansky.”

Axioma, built in 2013, can host 22 guests and crew members onboard, according to SuperYacht Fan. Axioma also features two big swimming pools, a gym, and a cinema, per SuperYacht Fan.

Several super-yachts linked to Russian oligarchs have been seized by countries that have sanctioned them as part of efforts to punish Russia and President Vladimir Putin for invading Ukraine.

Italy has seized a $578 million yacht linked to Andrey Melnichenko, France has impounded a $120 million vessel linked to Igor Sechin, and Spain has detained a $153 million superyacht linked to Sergei Chemezov.