One thing is for certain: when it comes to ships, fate plays a major role. Yes, there are legalities, governments, owners, etc., deciding their destiny and maneuvering or mooring the luxury vessels, but at some point, fate governs all. The case of the $217 million superyacht Royal Romance is an example. After the historic victory of putting Viktor Medvedchuk’s superyacht Royal Romance up for auction, a startling plot twist occurred when Ukrainian government officials announced they had lost the right to sell the ship. The plan to auction the vessel and use the proceeds to support Ukraine has fallen apart.
“In June, ARMA [Ukraine’s National Agency for Identification, Search, and Asset Management] transferred $114 million from the management of seized assets, an increase of $78 million compared to May. But there is also bad news. ARMA cannot sell Medvedchuk’s yacht seized in Croatia,” stated Yaroslav Zheleznyak, People’s Deputy, in a statement. The latest developments will not only hamper the impending auction but also jeopardize the nation’s plan to become a beacon of hope by selling the first seized luxury asset to benefit Ukraine. Now, officials risk losing the seized asset altogether.
“Moreover, Ukraine may lose this asset altogether. The Split District Court canceled the seizure of the yacht due to the lack of an indictment in the criminal case from the Prosecutor General’s Office. Let me remind you that the yacht is valued at $200 million—a significant amount for the budget and the army,” said Zheleznyak per Superyachtnews. On June 25th this year, the Split District Court in Croatia canceled the seizure of the yacht due to the Ukrainian Office of the Prosecutor General’s failure to submit a necessary indictment.
Ukraine now has no choice but to work on a mechanism that will allow the sale of the Feadship beauty. The ship may have been moored since her seizure in 2022, but Ukraine needs to act speedily or be ready to hand over possession of Royal Romance to its original owner.
The regal yacht has always been sheathed in secrecy, but it is known to house a massive 39-foot swimming pool, enhanced by a waterfall flowing over the stern. Designed by De Voogt Naval Architects with interior design by Seymour Diamond, the Royal Romance features a whopping 50 multipurpose rooms across its six floors and four decks. Of the 50 rooms, seven are guest suites for 14 guests serviced by 22 crew members. The rest are surely dedicated to an array of luxe amenities enjoyed by affluent owners. Additions like a gym, salon, spa, and movie theater are expected to be part of the Royal Romance’s facilities.
Who owns the Royal Romance superyacht?
Viktor Medvedchuk, 67, started as a Soviet-era lawyer who entered politics and later established a media empire. He controlled three television networks and a string of publications. The dark prince of Ukrainian politics is married to a well-known TV presenter in Ukraine, his third wife. Medvedchuk’s wealth, around $1 billion, comes from investments in energy and resources. With a liking for the finer things in life, Viktor Medvedchuk is also said to own an impressive car collection.
