Russian’s oligarch yacht given permission to enter Malta

VALLETTA (MALTA) (ITALPRESS/MNA) – A luxury yacht owned by Russian oligrach Maxim Shubarev, 59, entered Malta on Friday morning. Shubarev bought the Maltese citizenship in 2018. The Maltese government is under pressure for allowing the yacht with some 10 people onboard entering into the port of Valletta despite international sanctions on Russian oligarchs.

The Russian millionaire Maxim Shubarev bought his 70-metre superyacht registered in Malta last year. The Polaris sailed from Viareggio in Italy. However, Shubarev and his companies are not yet on the international list of sanctioned oligarchs and companies in the wake of the Russian invasion of Ukraine.

Shubarev is the chairman of Setl Group, a leading Russian construction and real estate company based in St Petersburg. His net worth is estimated at $500 million.

Shubarev is also a shareholder of Polaris Malta Ltd and Polaris Charter Ltd, two companies incorporated in 2016. The two companies’ registered addresses are in St Julian’s and Valletta.

He is also chairman of the committee on housing and civil engineering of Russiàs National Association of Construction Companies. In 2019, Shubarev was pictured with Russian president Vladimir Putin at a judo awards ceremony.

Since the beginning of the Russian war on Ukraine, a number of luxury yachts owned by Russian oligarchs have been seized in European countries. This week, France seized a yacht linked to Russian oil company Rosneft boss, Igor Sechin, in the Mediterranean port of La Ciotat. In the meantime, German authorities denied reports they had also seized the $600m superyacht belonging to Russian billionaire Alisher Usmanov.

Source: medNews