The motoryacht has been moored in Antigua’s Falmouth Harbour for over a year. Its previous owner was said to be sanctioned Russian fertiliser tycoon Andrey Guryev, and as such the yacht had been embroiled in a complex web of sanctions-related disputes since the start of the war in Ukraine in February 2022. 

Former Google CEO Eric Schmidt has been reported as the new owner, after the billionaire “won the auction this morning in a fully transparent process,” buying the vessel for $67.6 million, according to a statement from Sir Ronald Sanders, Antigua’s ambassador to the US. 

On 18 May, the U.S. Treasury Department granted licence No. RUSSIA-EO14024-2023-1060959-1 to the Antiguan and Barbudan government. This permitted approved parties to participate in the auction of Alfa Nero after Prime Minister Gaston Browne made the announcement public.

The winning bidder has seven days to complete the sale, or else it will transfer to the second highest bidder. Assuming the sale goes through and the Alfa Nero saga inches closer to a conclusion, the significant amount owed to the crew in back pay, and operational costs while the vessel has been moored in Antigua can be addressed. 

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