A superyacht reportedly owned by a Russian oligarch has been spotted at London’s Canary Wharf — a year after the vessel was seized under sanctions imposed after the invasion of Ukraine.

Alongside several eyewitness reports, AIS data confirms that, as of 28 March 2023, the £38m megayacht Phi is moored in Canary Wharf, east London.

The ultimate ownership of the Phi had been well hidden. The company the ship is registered to is based in St Kitts and Nevis, and the vessel carried Maltese flags.

In March 2022, the UK government detained Phi in Canary Wharf, just hours before it was set to leave the capital following a superyacht awards ceremony.

At the time, Transport Secretary Grant Shapps said the unnamed owner was “not currently sanctioned” but is a businessman who has “close connections” to Russian President Vladimir Putin. While initial reports in British outlets claimed the vessel is owned by Russian businessman Sergei Georgievich Naumenko, the Financial Times reported the ultimate owner as Vitaly Vasilievich Kochetkov, the founder of Motiv Telecom.

Arriving on the vessel for a photocall after the yacht was detained last year, Shapps declared the move a ‘warning’ to Russia.

“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,” he said. “Detaining Phi, proves, yet again, that we can and will take the strongest possible action against those seeking to benefit from Russian connections.”

Officers from the National Crime Agency boarded Phi yesterday. Photo courtesy of the National Crime Agency

Officers from the National Crime Agency boarded Phi yesterday. Photo courtesy of the National Crime Agency

Yet despite the detention and unclear ownership, Phi remains in Canary Wharf. One Londoner has posted a photo of Phi on the Reddit forum this week, asking: “Whose yacht is docked in Canary Wharf?”

One user clarifies: “Yea it’s on my running route and has been over in that corner of the dock for almost a year now. It used to come and go I think, and dock a bit closer to everything else.”

The 58.5-metre Phi has a freshwater swimming pool and an ‘infinite wine cellar’ – created by reflections of mirrors –according to the website of its builder Royal Huisman. Phi is the third-biggest yacht built by the prestigious Dutch shipyard, and also has its own 36-metre shadow vessel. It made its maiden voyage from the Netherlands to London in December 2021.

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