The $300 million, 290 foot-long superyacht of Russia's wealthiest oligarch has been spotted docked in Dubai

A back-side view of the 290 ft Nirvana super yacht, owned by Russia's richest man.

NurPhoto/NurPhoto via Getty Images

• A superyacht linked to Russia's wealthiest oligarch was spotted in Dubai, AP News reported.
• Nirvana, owned by nickel tycoon Vladimir Potanin, is said to be worth $300 million.
• Potanin has not been sanctioned by the West, but has close ties to Russian President Vladimir Putin.

A Russian oligarch thought to be the country's wealthiest man is the latest rich citizen to move a superyacht to the billionaire haven of Dubai amid scrutiny on those tied to Putin.

Associated Press journalists spotted the yacht Nirvana, which belongs to nickel tycoon Vladimir Potanin and is said to be worth $300 million, at Dubai's Port Rashid on Tuesday. 

Potanin, who is the CEO and majority shareholder of the world's largest producer of refined nickel, Nornickel, has been known to take vacations and play ice hockey with Russian President Vladimir Putin.

Despite his close ties to Putin, Potanin has not been listed on US, EU, or UK sanctions lists. 

Still, the oligarch is now one of several wealthy Russian individuals who have transferred major assets to Dubai.

The Nirvana superyacht pictured in Mugla, Turkey on July 4, 2014.

Levent Kisi/Anadolu Agency/Getty Images.

The UAE has taken a neutral stance on the conflict in Ukraine and has not imposed sanctions on elite individuals with ties to Putin. By moving their yachts to Dubai, individuals are putting them beyond reach of sanctions from the west. 

Government officials in Dubai have told Western allies that sanctioned individuals are not allowed to do business in the country, The Financial Times previously reported.

Potanin's luxury vessel, Nirvana, now sits close to a $156 million superyacht belonging to billionaire Andrey Skoch, which was spotted in Dubai last Thursday, per AP.

A $300 million superyacht belonging to Russian oligarch Andrey Melnichenko was also spotted in the UAE earlier in June. 

The 290-foot Nirvana yacht has a six-person lift, a terrarium for exotic reptiles, and a 7.5 meter swimming pool, according to its manufacturer, Oceanco.

Potanin is the 33rd richest person in the world, with a net worth of $37.1 billion, according to Bloomberg Billionaires Index. 

Insider contacted Vladimir Potanin for comment but did not immediately hear back.

Read the original article on Business Insider

from Business Insider https://ift.tt/rCZin46