$300 million superyacht owned by Russia’s wealthiest oligarch, Vladimir Potanin, has arrived in the safe haven of Dubai as the West tightens sanctions on Russia’s economy.
Potanin, who is the CEO and majority shareholder of the world’s largest producer of refined nickel, Nornickel, has taken the precaution by transferring his 88-meter-long (289-foot-long) superyacht, called “Nirvana” to Dubai,” according to AP News.
The arrival of Nirvana in Dubai has become a symbol of the UAE’s unwillingness to oppose Russia for its invasion of Ukraine and enforce Western sanctions.
“One of a shrinking number of countries where Russians can still fly directly, the financial center has become a thriving hub for Russia’s rich, in part because of its reputation for welcoming money from anywhere — both legitimate and shady,” AP noted.
