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A luxurious superyacht linked to a Russian billionaire was detained by authorities after docking in Gibraltar on Monday.
Western sanctions imposed on Russian oligarchs over Moscow's invasion of Ukraine have forced the relocation of many luxury yachts from Europe in recent weeks.
Several have headed to the Maldives, which has no extradition treaty with the US.
Reuters TV footage showed the Axioma, believed to belong to Dmitrievich Pumpyansky, owner of Russia's largest steel pipe maker, moored at Gibraltar, a British Overseas Territory on the southern tip of the Iberian Peninsula, flying a Maltese flag.
Mr Pumpyansky, who is currently under UK and EU sanctions, owns steel group TMK. The UK imposed sanctions on hundreds of Russian citizens and entities last week, enabling authorities to freeze their assets.
Refinitiv data shows the 72-metre vessel is owned by a British Virgin Islands holding company called Pyrene investments, Reuters reported. An article published by the International Consortium of Investigative Journalists as part of the Panama Papers leaks names Pumpyansky as a beneficiary of the holding.
Forbes and specialist publication Superyacht Fan also list him as the Axioma's owner.
The Gibraltar government confirmed that the Axioma had arrived in port after asking permission to enter and "was confirmed to be the subject of an arrest action by a leading international bank in the Supreme Court of Gibraltar".
"The vessel is now subject to arrest by the Admiralty Marshal until further order," it said, without specifying the legal claims from creditors against the vessel or the vessel's owner.
Refinitiv shipping data showed the Axioma left the Caribbean island of Antigua on February 27 and spent the past three weeks crossing the Atlantic before reaching Gibraltar.
Earlier on Monday, a vessel linked to Roman Abramovich, the sanctioned owner of Chelsea football club, docked in the seaside city of Bodrum in south-west Turkey. A second superyacht linked to Mr Abramovich was spotted approaching the Turkish coast on Tuesday.
Gender pay parity on track in the UAE
The UAE has a good record on gender pay parity, according to Mercer's Total Remuneration Study.
"In some of the lower levels of jobs women tend to be paid more than men, primarily because men are employed in blue collar jobs and women tend to be employed in white collar jobs which pay better," said Ted Raffoul, career products leader, Mena at Mercer. "I am yet to see a company in the UAE – particularly when you are looking at a blue chip multinationals or some of the bigger local companies – that actively discriminates when it comes to gender on pay."
Mr Raffoul said most gender issues are actually due to the cultural class, as the population is dominated by Asian and Arab cultures where men are generally expected to work and earn whereas women are meant to start a family.
"For that reason, we see a different gender gap. There are less women in senior roles because women tend to focus less on this but that’s not due to any companies having a policy penalising women for any reasons – it’s a cultural thing," he said.
As a result, Mr Raffoul said many companies in the UAE are coming up with benefit package programmes to help working mothers and the career development of women in general.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
FIGHT%20CARD
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Section 375
Cast: Akshaye Khanna, Richa Chadha, Meera Chopra & Rahul Bhat
Director: Ajay Bahl
Producers: Kumar Mangat Pathak, Abhishek Pathak & SCIPL
Rating: 3.5/5
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
The candidates
Dr Ayham Ammora, scientist and business executive
Ali Azeem, business leader
Tony Booth, professor of education
Lord Browne, former BP chief executive
Dr Mohamed El-Erian, economist
Professor Wyn Evans, astrophysicist
Dr Mark Mann, scientist
Gina MIller, anti-Brexit campaigner
Lord Smith, former Cabinet minister
Sandi Toksvig, broadcaster
