The process of selling Medvedchuk's yacht Royal Romance has entered its final stage - ARMA
Kyiv • UNN
ARMA has brought the sale of the yacht Royal Romance, seized in Croatia, to its final stage. The proceeds from the sale of the asset will go to the state budget.
ARMA is nearing the sale of the Royal Romance yacht — one of the most expensive seized assets linked to the sanctioned Viktor Medvedchuk. This was reported by the Asset Recovery and Management Agency (ARMA), according to UNN.
Details
After a long period of international approvals, court procedures, and overcoming numerous legal obstacles, the asset sale process has entered its final stage.
The story of the Royal Romance has become unprecedented for Ukraine. For the first time, a seized asset located abroad is undergoing a sale procedure with the participation of the Ukrainian state.
The yacht was seized in Croatia in 2022 and handed over to ARMA management for subsequent sale. However, the realization of the asset faced large-scale legal resistance.
Due to the expiration of the legally established sale period in 2024, the procedure had to be restarted, re-justifying the necessity of the asset sale and undergoing a complex international approval process.
The case was significantly complicated by the activities of individuals associated with Viktor Medvedchuk, who used existing legal mechanisms to delay the process and block the adoption of necessary decisions. An additional challenge was the multi-level system of legal structures and protective mechanisms created in several foreign jurisdictions,
Despite this, ARMA, together with Ukrainian and international partners, managed to ensure significant progress in the case. The necessary legal position was formed, key procedural barriers were removed, and the prerequisites for completing the asset sale process were created.
The Royal Romance case has become one of the most illustrative examples of how sanctions policy should work in practice. The seizure of an asset in itself is not the ultimate goal. A real result is achieved when individuals who for years used their wealth to maintain influence and evade responsibility finally lose control over these resources.
Upon completion of all legal procedures, the proceeds from the sale of the Royal Romance could become one of the largest contributions to the state budget from the sale of seized assets in the entire history of Ukraine.