Russian oligarch’s £38million superyacht is DETAINED in London’s Canary Wharf by UK Government

A RUSSIAN oligarch's £38million superyacht has today been detained in London's Canary Wharf by the UK Government.

Officers from the National Crime Agency this morning stormed the 200ft cruiser Phi and told the skipper it was being impounded.

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Phi -capable of 20 knots - is owned by an unnamed Russian businessman and boasts an "infinite wine cellar" and freshwater swimming pool.

It is the first mega-yacht to be detained in the UK under sanctions imposed to punish Putin for waging a bloody war.

Transport Secretary Grant Shapps said: "Today we've detained a £38million superyacht and turned an icon of Russia's power and wealth into a clear and stark warning to Putin and his cronies.

"Detaining the Phi proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from connections to Putin's regime."

The National Crime Agency's corruption taskforce identified the owner, whose identity they said was "deliberately well-hidden".

While the owner is not himself subject to British sanctions, Shapps has the power to order Russian-linked ships be detained.

Phi is registered to a company based in the Caribbean dual-island nation of Saint Kitts and Nevis, and carries a Maltese flag.

Named after the Greek letter, Phi is the third-biggest yacht built by prestigious shipbuilders Royal Huisman and it was launched last year.

The DfT said it is "looking at a number of other vessels" and hopes its "strong stance sends an example to international partners".

Andy Devine, from the NCA, said: "Today’s activity demonstrates the NCA’s ability to react at pace. We have surged officers to establish the Combatting Kleptocracy Cell, and the results of this are already bearing fruit.

"The NCA plays a vital role in targeting suspect assets, pursuing enablers of illicit wealth and supporting Government partners in the delivery of the response to the Russian invasion of Ukraine."

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