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140m M/Y Scheherazade Placed Under Freezing Order in Italy

10 May 2022By Staff Report
The 140 metre yacht Scheherazade under arrest in Italy
Credit: Tom van Oossanen

The 140-meter M/Y Scheherazade has been prevented from departing the Marina di Carrara port in Italy under a new freezing order signed by the Ministry of Economics and Finance. The move follows recent investigations by the Guardia di Finanza into the yacht’s ultimate beneficial owner after a clamp down on luxury vessels as part of the EU’s economic sanctions against Russia.

The Guardia di Finanza signed an order to freeze the vessel on May 6 after investigations confirmed “the presence of significant economic and business links of the beneficial owner of the boat Scheherazade with prominent elements of the Russian government,” a statement read.

While the ultimate beneficial owner has not yet been named on the European list of sanctioned individuals, Italy’s Financial Security Committee made an official recommendation that he or she be added.

Scheherazade had been undergoing maintenance work at the Italian Sea Group’s [TISG] Carrara facilities since September 2021. In a statement, TISG said: “The Italian Sea Group confirms that this event will not impact any of its activities, which will proceed regularly, and that it will continue to collaborate with the Authorities.”

Scheherazade joins a list of more than 10 superyachts placed under arrest or freezing orders since March and is the fourth yacht to be arrested in Italy.

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