Vladimir Putin's superyacht dream appears to have sunk after a luxury vessel said to be owned by the Russian president was set to be seized by Italian authorities.
The $700 million (£570 million) Scheherazade, which is more than 450ft long and boasts spas, "countless" swimming pools, a sauna, theatre, ballrooms, gym and two helicopter landing pads - plus a hospital - has been recommended for impoundment as part of sanctions against Russia following its invasion of Ukraine.
Although the ownership of the craft has only been linked to an unnamed "significant person", it has been subject to an investigation and has been docked in Marina di Carrara near Pisa, in north-west Italy, since September undergoing a refit.The announcement about the ship's future yesterday came after fears grew that the Scheherazde could escape into international waters and avoid any sanctions.
A statement from the Italian Financial Police said: "After verification by the fiscal authorities it has come to light that there is a significant economic connection between the owner of The Scheherazade and senior elements of the Russian government.
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