A luxury Yacht owned by sanctioned Russian oligarch Suleiman Kerimov and confiscated by the U.S. costs taxpayers nearly $1 million in monthly maintenance costs. The Justice Department wants permission to sell the yacht to avoid these "excessive costs" totaling $922,000 monthly. Monthly costs include $600,000 for running expenses, $360,000 for the crew, and $144,000 for insurance. Kerimov, an ex-Rosneft CEO, is contesting the seizure and proposed sale in court.
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00:00 It's Benzinga and here's what's on the block.
00:02 A luxury yacht owned by sanctioned Russian oligarch Suleiman Kerimov and confiscated
00:06 by the US is costing taxpayers nearly a million dollars in monthly maintenance costs.
00:10 The Justice Department wants permission to sell the yacht to avoid these excessive costs,
00:14 totaling around $922,000 a month. Monthly costs include $600,000 for running expenses,
00:19 $360,000 for the crew, and $144,000 for insurance.
00:23 Kerimov, an ex-Rosneft CEO, is contesting the seizure and proposed sale in court.
00:27 For all things money, visit Benzinga.com.
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