The auction will conclude on September 10, aligning with President Donald Trump’s strategy to apply more pressure on Russian President Vladimir Putin to cease the conflict.

The United States has announced that it is collaborating with its allies to impose pressure on Russian oligarchs, some of whom are linked to Putin and have had their yachts taken, in an effort to persuade him to end the war.

In an emailed statement on Wednesday, a spokesperson for Khudainatov argued that selling the yacht is “inappropriate and premature,” as Khudainatov is contesting a court order of forfeiture.

“We believe it will not appeal to any sensible buyer at a fair market value, because ownership is likely to be disputed in courts outside the United States, subjecting buyers to prolonged expensive and uncertain legal battles,” stated the spokesperson, Adam Ford.

Since the US National Maritime Services took possession of it in 2022, the yacht has remained mostly untouched. Interested individuals must place an $11.6 million deposit with their sealed bid to be eligible for consideration.

Ford said Khudainatov would go after any proceeds from the sale of the yacht, estimated to be worth $US325 million.

“Should the government press ahead simply to staunch the mounting costs it is imposing on the American taxpayer, we will pursue the sale proceeds, and any shortfall from fair market value, once we prevail in court,” Ford said.

An American aid package for Ukraine signed into law last May gave the US the ability to seize Russian state assets in the US and use them for the benefit of Kyiv, which was attacked by Russia in February 2022.