Superyacht linked to sanctioned Russian oligarch is auctioned in Gibraltar

FILE PHOTO: The Axioma superyacht belonging to Russian oligarch Dmitrievich Pumpyansky who is on the EU's list of sanctioned Russians is seen docked at a port, amid Russia's invasion of Ukraine, in Gibraltar, March 21, 2022. REUTERS/Jon Nazca/File Photo

MADRID (Reuters) - A $75-million superyacht linked to a sanctioned Russian steel billionaire was auctioned on Tuesday in Gibraltar, court sources said, in what is understood to be the first sale of its kind since Russia invaded Ukraine in February.

The Axioma was impounded by the Gibraltar authorities in March after U.S. bank JP Morgan said its alleged owner Dmitry Pumpyansky had reneged on the terms of a $20 million loan. The 72.5-metre vessel was auctioned by the Gibraltar Admiralty Court through a system of closed bids to be sent electronically by midday on Tuesday, a court spokesman said.