The Alfa Neroyacht has been moored at Falmouth Harbour since the early part of 2022.

Guryev, a tycoon in the fertilizer industry, and the 82-metre vessel are subject to United States Treasury Department sanctions. Guriev is a close associate of Russian President Vladimir Putin and a former government official.

Antigua and Barbuda security officials searched the vessel last year as part of efforts to identify its owner. Local businesses were advised against conducting any transaction with the sanctioned oligarchs.

Information Minister Melford Nicholas told reporters at today’s post-cabinet briefing that the Alfa Nero was essentially “abandoned” in Antigua and Barbuda.

Nicholas said the government is trying to prevent a future hazard since the luxury vessel is not being maintained by its owner.

Nicholas said Antigua and Barbuda would have consulted the United States authorities prior to taking the action.

Whatever money is received from the Alfa Nero’s sale, would remain in the Antiguan government's hands but Nicholas said there is the possibility for the US to make a future request for access to the funds.

The Alfa Nero was built in 2007 and it has a value of $81 million.

A note from the cabinet meeting said the sale notices will be placed in the media for 10 days in order to satisfy the requirements under the law for a forced sale.

“If the owner fails to claim the vessel within that time period, the Government of Antigua and Barbuda, having declared the vessel a hazard to shipping and to the harbour where it is moored, will sell it to the highest bidder,” the note stated.

Nicholas added: “We are acting on a legal opinion by a noted Caribbean jurist based on our law and based on international treaties”.