Phi appeal verdict due in six weeks

Superyacht Phi has been detained in London since March 2022.
The verdict on detained superyacht Phi will be delivered in about six weeks after the latest appeal was heard for the 58m Royal Huisman moored in London.
Phi was prevented from leaving the UK in March 2022 as part of sanctions against Russia and has been tied up in Canary Wharf ever since.
The yacht is owned by St Kitts and Nevis company Dalston Projects Ltd, but its beneficial owner is Russian Sergei Georgievich Naumenko.
Lawyers for Mr Naumenko argue the detention is unlawful on human rights grounds among other things.
Two earlier appeals against the ruling were unsuccessful and on January 16th the latest appeal was heard by the Supreme Court on the grounds that the detention is unfair and makes assumptions about Mr. Naumenko’s finances and links to the Russian regime.
The appellants argued the UK government has not produced clear proof that detaining the vessel would achieve the desired impact on Russia in light of its war in Ukraine.
Phi is reportedly out of class and deteriorating on its Canary Wharf mooring with signs of degradation on the hull and scaffolding covering much of the superstructure.
At the time of her detention, the then UK transport secretary Grant 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 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.”