Since the beginning of the Ukraine war in February, sanctions against oligarchs close to Russian President Vladimir Putin have been used as a tool to put pressure on Russia. Assets affected thus far have included yachts, luxury planes and lavish residences throughout the world.

According to a Wednesday press release from the Ukrainian government, the latest development saw a Croatian court clear the way for a $200 million superyacht to be sold to benefit Ukraine.

Royal Romance, as the yacht is called, is a 300-foot long Dutch-designed custom creation that can entertain 14 guests and is served by some 21 crew members. The yacht belonged to Viktor Medvedchuk, a Ukrainian oil and media baron who has led a pro-Russian party in Ukraine for years, even after the 2014 annexation of Crimea and the beginning of the war in the Donbas.

Medvedchuk is a Putin ally who has vacationed with the Russian leader. Putin himself is godfather to Medvedchuk’s daughter, Daria. 

The Ukrainian Asset Recovery and Management Agency (Arma) said that it would “preserve the economic value [of the yacht] by selling it at auction.”

According to The Guardian, it is the first such sale on behalf of the Ukrainian people since Western governments began to impose restrictions on the assets of hundreds of oligarchs.

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