UK seizes Russian billionaire's lavish $24m yacht

Britain's government has seized a superyacht owned by a Russian billionaire with ties to Vladimir Putin — the first vessel to be detained in the UK under sanctions imposed because of the war in Ukraine.

UK officials, including Transport Secretary Grant Shapps, boarded the vessel at Canary Wharf in east London on Tuesday.

The name of the vessel's owner was not made public.

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The Superyacht Phi, which was seized by UK government, at Canary Wharf on March 29, 2022 in London, England. Transport Minister, Grant Shapps, has detained the superyacht Phi, worth £38 million, as part of UK government sanctions against Russians with links to President Putin since Russia invaded Ukraine. The Superyacht Phi, which was seized by UK government, at Canary Wharf

The 58.5-metre yacht is bright blue and features an "infinite wine cellar" and freshwater swimming pool, according to the National Crime Agency.

It is valued at $24 million.

The Phi, named after a mathematical concept, was in London for a "refit" but "won't be going anywhere," Mr Shapps said.

The yacht is registered in St. Kitts and Nevis but carried Maltese flags to hide its origins, the crime agency said.