A £39m superyacht owned by an alleged pal of Vladimir Putin looks worse for wear as it enters its third year imprisoned on a quiet London quay.
The mega vessel, Phi, was detained by UK authorities back in March 2022 after sanctions were placed on Russia following its invasion of Ukraine. National Crime Agency (NCA) officers stormed the 58.5 metre boat and served it with a detention notice, later confirmed by former Transport Secretary Grant Shapps, who said UK officials boarded Phi to “turn an icon of Russia’s power and wealth into a clear and stark warning to Putin and his cronies.”
Almost three years on, the Mirror visited the quay in Canary Wharf where Phi continues to float in limbo as it awaits a verdict. The boat’s owner, Sergei Georgievich Naumenko – a property developer who is not on the UK’s Russia sanctions list – filed a high court claim against the Department for Transport (DfT) last year, demanding it free his superyacht and pay damages.
Phi was detained by UK authorities in March 2022
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The yacht now stands out as an eyesore against the backdrop of Canary Wharf’s shiny skyscrapers, with clear plastic sheets, planks of wood and scaffolding erected across its front and back decks.
An unnamed worker from the Canal and River Trust, who was spotted clearing rubbish from around the yacht, told the Mirror: “There’s speculation that the scaffolding has been put up deliberately to make the boat look bad, and [in turn], pressure the UK government into releasing it.”
The vessel appears to be undergoing construction work
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Tim Merry/Staff Photographer)
The longer the boat is stationary on the quay, the more chance it has of deteriorating, he added, but it would take several years for it to develop significant wear, and it remains unclear why the vessel appears to be undergoing construction work. The worker added: “A boat is like a house that’s falling down from the moment you get it.”
A handful of crew members, around four or five, are reportedly onboard Phi everyday to ensure its safety and perform odd jobs, such as scrubbing the deck. While the boat appeared to be empty when visited by the Mirror this year, there was some activity, including an outside light that turned on and off, and an active bilge pump at the bottom of the vessel.
Phi’s owner claims to have no involvement with Putin
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Tim Merry/Staff Photographer)
Two passers-by who stopped to have a look at the yacht told the Mirror it used to be guarded by security officers in the early days of its detention. With no guards in sight today, Phi has been targeted by various trespassers who have managed to climb into the luxury yacht, which boasts a wine cellar, fresh-water swimming pool and penthouse apartment on the upper deck. The canal worker claimed: “They usually just run away when they’re caught.”
Appealing the detention of his yacht, Naumenko said he was only being targeted because he was a wealthy Russian, and has maintained having no involvement in Russian politics, or any connection with Putin. Judge Ross Cranston dismissed his claims on the basis that the yacht was “a high-value ship […] and its owner, Mr Naumenko, was ‘connected with’ Russia.”
A sign outside the yacht warns passersby it is manned 24 hours
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Tim Merry/Staff Photographer)
While little is known about Naumenko, one of the yacht’s captains, Guy Booth, claimed in 2022 that the tycoon was aged in his mid-fifties and lived in the Ural mountains in western Russia.
Booth, who worked with Naumenko for eight years, told the Times that the businessman reportedly feels he has “been unjustly punished and has nothing to do with the current Russian regime.” He is still liable for Phi’s maintenance and running costs, estimated to be around £3m.
The fate of Naumenko’s megayacht will now be decided in the new year, with a hearing at the UK Supreme Court scheduled for January.
A spokesperson for the DfT said: “A Supreme Court appeal on the detention of the Phi superyacht is due in January 2025. We cannot comment on active legal proceedings. No taxpayer money is being spent to moor or maintain the Phi in its current location.”