LONDON 

Britain has seized the first Russian superyacht in British waters as part of sanctions against Moscow, the British transport secretary said on Tuesday.

🚨BREAKING: Russian superyacht detained.

I have worked closely with @NCA_UK & the @UKBorder’s Maritime investigation Bureau to intercept the £38m - Phi.

This Government will continue to take robust action against anyone benefiting from connections to Putin’s regime. pic.twitter.com/enp9M2tmBB

— Rt Hon Grant Shapps MP (@grantshapps) March 29, 2022


The superyacht is called Phi, and is worth an estimated £38 million ($49.9 million), Grant Shapps said. The 58-meter (190-feet) superyacht was banned from leaving Canary Wharf, east London, around noon today.


The investigation into the superyacht was carried out by the Department for Transport, National Crime Agency and Border Force Maritime Investigation Bureau.


The superyacht’s ownership was well hidden, according to local media, and was first identified as being potentially Russian-owned on March 13.


Shapps said: “Today we’ve detained a £38m superyacht and turned an icon of Russia’s power and wealth into a clear and stark warning to (Russian President Vladimir) 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 Russian connections,” he added.