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Government officials move to auction 92.5m Royal Romance

1 December 2022• Written by Katia Damborsky

The 92.5 metre Royal Romance is set to be sold at auction following her arrest in Rijeka, Croatia earlier this year. 

According to a statement published by the Agency for Investigation and Management of Assets (ARMA), a branch of the National Agency of Ukraine, the yacht was inspected by officials between November 13 and 22 with a view to "preserve the economic value by selling [the yacht] at auction".

International news sources claim that a search warrant, issued by the Croatian government at the request of the U.S. Justice Department was also issued on November 15. The owner is understood to be a pro-Kremlin Ukrainian national and has appeared on international sanctions lists since February.

The statement went on to say: "It should be emphasised that the management of seized property, which is within the limits of foreign jurisdiction, is a unique situation and has no analogues not only in Ukraine, but also in international practice. At the same time, the implementation of management measures is impossible without a review of the asset and the collection and analysis of information about it."

The seizure follows a number of meetings and negotiations with representatives of the port, local law enforcement agencies and the Ministry of Justice of Croatia.  The process of transferring the yacht to the ARMA administration now falls to the Split Seaport Administration.

Royal Romance was delivered by Feadship in 2015.