An expensive floating eyesore has marred the view of the port in Trieste for more than four years, and maintaining the yacht costs Italian taxpayers millions of euros, Mayor Roberto Dipiazza warns. It is Sailing Yacht A, one of the largest in the world, worth around $600 million, which belongs to Russian oligarch Andrei Igorevich Melnichenko.
The yacht was in Trieste for maintenance in March 2022, but the Russian invasion of Ukraine led to the introduction of extensive sanctions and the seizure of Russian assets, and Melnichenko’s yacht was among the seized property. It is 142 metres long, dubbed the "ugliest yacht in the world", and locals who have grown accustomed to it simply call it "A". It was designed by Philippe Starck, and its exterior is characterised by almost invisible windows set into a gleaming frame of armoured steel, making it look like a ghost ship. Three rotating carbon fibre masts are as high as an eight-storey building, and their silhouette has become a familiar sight in the busy port, where dozens of cruise ships dock every week.
In September 2025, Mayor Dipiazza launched a public campaign raising the question of who pays for the mooring and maintenance of the yacht. He called it a "shame" and threatened to sell it or sail it out of the port. He told CNN that the costs of maintaining the yacht on the surface amount to around $30,000 a day, or nearly $11 million a year. The costs include salaries for 20 crew members, fuel for generators, specialised cleaning, insurance and security. Under Italian law, a seized vessel must be maintained and cannot be left to rust or sink. If and when the sanctions against Melnichenko are lifted, he will have to reimburse these costs to take back his yacht. Dipiazza emphasised: "In the end, it will be cheaper for him to buy a new yacht than to reimburse us for everything we have spent. And what will that mean for us? We could be paying to maintain this monstrosity for years".
Melnichenko is a banker and industrialist whose wealth is estimated at around $20 billion. He contested the seizure of the yacht in the summer of 2022, claiming that the vessel was not in his direct ownership, but belonged to the company Valla Sails through a foundation established by his wife. The case was heard by a court in Rome in 2022, and eventually reached the Court of Justice of the European Union. The Court of Justice of the European Union ruled in 2025 that Italy has the right to keep the yacht under seizure, and therefore the obligation to maintain it.
Sailing Yacht A is not the only Russian yacht whose maintenance costs Italians millions. In the Tuscan port of Marina di Carrara, the six-deck superyacht Shahrazad, 142 metres long, is moored behind high walls that shield it from curious eyes. It is formally registered to Eduard Khudaynatov, head of the Russian oil company Rosneft, but Russian opposition leader Alexei Navalny has made credible claims that the yacht actually belongs to Russian President Vladimir Putin. According to transponder data recorded by the service Vessel Finder, the yacht left the port on 28 August this year and headed north, towards the Italian Riviera, with a strong escort from Italian security forces, and returned after ten hours. A spokesperson for Italian Sea Group, whose dock the yacht is moored in, stated that it was technical testing as part of maintenance. According to the portal Superyacht Times, the superyacht is worth $700 million, and among its numerous amenities, it has two helipads and a pool that can be converted into a dance floor.
The mooring fee for the Shahrazad was paid until September, tax documents seen by CNN show, but Italian Sea Group does not want to reveal who paid those costs or who is covering them now. Since the yacht was seized, Tuscan taxpayers have spent more than $15 million on the salaries of its small crew. Some crew members are British, others Russian, and the crew composition changes several times a year, local media reported. A film crew that tried to get close to the yacht last year was driven off by drones and water cannons, and additional costs include insurance to prevent anyone from approaching it, but also to ensure it does not sail while under seizure.
Among other vessels whose maintenance Italy pays for is Lady M, an elegant 64-metre superyacht owned by Alexei Mordashov, a close associate of Putin and the majority owner of Severstal, the largest Russian company in the steel and mining sector. According to Forbes estimates, Mordashov’s wealth is nearly $37 billion. The yacht Lady M was seized in Imperia and has cost Italian taxpayers around $2 million so far, Matteo Bonjean, deputy director of the Marina di Imperia port, told Forbes. Nearby, the superyacht Lena, 38 metres long, is also being maintained, owned by Gennady Timchenko, another of Putin’s allies. All seized vessels have crews that look after their maintenance, and their salaries are paid by the Italian government. Among other costs is air conditioning, which is used to prevent mould from forming inside the vessels.
Italian Prime Minister Giorgia Meloni strongly supports the continuation of sanctions against Russian oligarchs linked to Putin. Last month, in the Italian Senate, she warned that any easing of sanctions or reaching an agreement with Moscow would be a "very risky move".
