Russian superyacht caught in UK uses Malta flag to hide its origins
The UK government has seized a Russian-owned superyacht flying the Maltese flag, the first ever detention of a superyacht in UK waters.
Officials from the UK’s National Crime Agency served a $ 38 million superyacht detention notice on Tuesday morning, following Transport Secretary Grant Shapps ordering his detention.
“The ownership of the yacht was deliberately well hidden. The company for which the ship is registered is based in the islands of St Kitts and Nevis and used to carry Maltese flags to hide its origins, “the agency said in a statement.
The flag of Malta is the sixth largest in the world and the largest in the EU. Malta also has the largest register of superyachts in the world, with 850 vessels larger than 24 meters.
The 58.5-meter ‘Phi’ superyacht is owned by a Russian businessman, whose identity has not been disclosed by the crime agency.
Phi is the third largest yacht built by Royal Huisman, boasting a patented freshwater swimming pool and what builders have called an “infinite wine cellar”.
The flag of Malta is considered a ‘flag of convenience’ by the International Federation of Transport Workers. Convenience flag refers to a commercial practice whereby shipowners choose to register their vessel in countries that offer advantageous tax regimes, lax environmental regulations, or poor labor standards.
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