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The US Government has won the latest round of a court battle to impound a luxury vessel, named Amadea, which is believed to belong to sanctioned Russian oligarch Suleiman Kerimov.
Millemarin Investments is the holding company of the $325m superyacht, which was detained in Fiji at the request of the US earlier this month.
Fiji’s Suva High Court has already permitted the US to confiscate the yacht.
According to the court, the vessel violates US laws, including money laundering and conspiracy, as well as the International Emergency Economic Powers Act (IEEPA).
Subsequently, Millemarin filed an appeal, with its lawyers claiming that former Rosneft executive Eduard Khudainatov, who is not sanctioned, is the owner of the 350ft yacht.
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The Court of Appeal in Fiji has rejected this appeal, and the company now intends to move the case to Fiji’s Supreme Court.
US officials claim that on paper, Khudainatov also owns an even larger megayacht, named Scheherazade, which allegedly has ties to Russian President Vladimir Putin.
Together, Scheherazade and Amadea are valued at more than $1bn.
The US has raised doubts as to whether Khudainatov has the financial capacity to buy two megayachts of this size.
Built in Germany in 2016, the Amadea megayacht has twin 5,800HP engines that support a top speed of 20k and a maximum range of 8,000 nautical miles.
With eight suites to accommodate up to 16 guests and a crew of 25, Amadea also features a helipad and mosaic-tiled pool.