The superyacht Phi, a 192-foot Royal Huisman, might consider changing its name to “Flee,” especially if nominative determinism (the idea that a name can influence a person’s life choices, career, or personality) holds any truth. Perhaps this change could turn around the fortunes of the luxury vessel owned by Russian tycoon Sergei Naumenko.
The $55 million motor yacht has been detained at London’s Canary Wharf since the end of 2021. The vessel, now showing clear signs of neglect, is suffering from the effects of her arrest and inactivity.
From hull degradation and lapsed insurance to trespassers, Captain Guy Booth told BOAT International that Phi’s condition has further deteriorated and continues to worsen.
While the businessman who owns the yacht does not appear on any sanctions lists, the UK government took action based on the assumption that Phi’s owner is connected to the Russian regime. In July 2023, the wealthy tycoon lost a legal battle against the UK government when a London court ruled in favor of detaining his luxury superyacht, rejecting Naumenko’s plea to reverse the decision. An appeal hearing for the stunning Royal Huisman began in the UK Supreme Court on January 16, 2025.
The Secretary of State for Transport argued that the seizure was merely a restriction of use, claiming the owner was never barred from performing maintenance on the yacht. The presence of crew and even the sale of the yacht “to someone with no connection to Russia” was permitted. This legal battle appears to be long and grueling, with the court adjourned for now and a final judgment expected in due course.
Meanwhile, if anyone has suffered more than the Phi yacht, it is Naumenko himself. He has never been able to enjoy his breathtaking blue-hued vessel or zip through azure waters at a top speed of 22 knots. One can imagine him dreaming of taking a dip in the yacht’s freshwater swimming pool, seamlessly covered by a flush pool cover and sealed with the touch of a button, on difficult days. Or perhaps he longs to get lost in the 300-bottle infinite wine cellar, located in the lower deck lobby, lined with giant mirrored walls. Phi could have been a bustling haven of merriment for Naumenko and his 12 guests, but it seems destined to remain a dream.