While the Italian authorities enthusiastically seized the $700 million Scheherazade superyacht last year, it's the owner who has been paying the docking charges, maintenance, and staff salaries. He has also secretly been getting the 459-foot-long vessel upgraded and refurbished.

Scheherazade, the magnificent $700 million megayacht, may have been impounded in May last year, but that didnt stop the pleasure craft from undergoing a refit in an Italian port. Never mind the European Union sanctions, a mystery owner splurged for the refit and maintenance in addition to paying for the vessel’s staff, while the 460-footer sits in the Tuscan port of Marina di Carrara. Italian Sea Group SpA agreed to refurbish the superyacht Scheherazade but gave no further details on the owner’s identity. Italy ordered the yacht’s seizure in May 2022 under EU sanctions.

When it comes to opulence, the Scheherazade surpasses even the best megayachts.

The six-decker Lurssen mammoth is one incredible asset to maintain, with space for 18 guests and a crew of 40. With plush interior work done by Zuretti Yacht Design, the ship flaunts lavish amenities like two helicopter pads, a large pool, a cinema, a beauty salon, gold-plated bathrooms, and a distinguished beach club aft. Scheherazade gives privacy the utmost importance and has installed high-tech drone crashing security systems for the same.

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Per Business Insider, the speculated owner of the Scheherazade yacht is Eduard Khudainatov, the sanctioned former CEO of Russian state oil company Rosneft. The same name cropped up as owner when the U.S. was straining to seize sanctioned billionaire Suleiman Kerimov’s prized $325 million megayacht Amadea.

A patrol boat of the Italian authorities blocks the Scheherazade.

Feature-packed superyacht Scheherazade was seized in May last year –
On May 7th, 2022, Italian authorities froze the Scheherazade in the port of Marina di Carrara. Investigations by the Italian Ministry of Economy and Finance revealed the ship’s beneficial owner had “significant economic and business ties” to high-ranking people in the Russian government and individuals sanctioned by the European Union, per Forbes. The vessel has been moored ever since, and that doesn’t bode well for a miniature floating city dotted with innumerable pools, a spa, a sauna, a ballroom, a hospital, and a gym.

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A statement from the Italian Financial Police said in May: ‘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. ‘On the basis of these elements, it has been recommended that the yacht be placed on the current European Union sanctions list, and the Minister of Finance in Rome has agreed.’ it is no secret the senior element of the Russian government is none other than President Vladimir Putin who possessed the wealth to own and maintain a gigantic pleasure craft like Scheherazade.