Word is going around that an enormous private yacht now in the Italian port of Marina di Carrara near Pisa is the property of Russian President Vladimir Putin. Registered in the Cayman Islands, the Scheherazade, said to be worth $700 million, is set to be confiscated by Italian financial authorities as a part of sanctions against the Russian state and its personnel for their part in the war in Ukraine.
This is an interesting situation. What will eventually become of the Scheherazade? After Putin is deposed, assassinated or eliminated by disease, who will pay the bills of what's certainly one of the world's most opulent playthings? And who will become the new owner? Will it be some European middle manager with a family to entertain? Or a wealthy American business man, not an oligarch but simply a very talented individual? Maybe the Italian government itself will assume ownership and use the boat as a floating relaxation spot for harried diplomats.
The effect on the current owner, whomever he might actually be, isn't obvious. Will someone who has the financial capability of possessing such a thing genuinely suffer if it is lost?
The Scheherazade superyachtfan.com
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