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JPMorgan to Learn What Sanctioned Billionaire’s Yacht Is Worth

July 13, 2022, 11:05 AM

JPMorgan Chase & Co. is set to find out what a Russian billionaire’s impounded superyacht is actually worth.

The US bank won a court order in Gibraltar allowing for the auction of the 73-meter (240-foot) yacht Axioma formerly owned by Dmitry Pumpyansky, who was sanctioned in March. The sale is set to take place after JPMorgan called in a 20.5 million-euro ($20.6 million) loan tied to the vessel, according to newly released court documents.

The 5-deck Axioma, which boasts an infinity swimming pool plus a 3D cinema, was impounded in March by authorities on the British territory, located at ...