Gibraltar seized a $75 million superyacht owned by a sanctioned Russian oligarch, the local government said

• Gibraltar's government said on Monday it seized a $75 million yacht owned by a Russian oligarch.
• The government told Insider that the yacht, Axioma, was owned by the billionaire Dmitry Pumpyansky.

A $75 million superyacht owned by a sanctioned Russian oligarch was seized upon docking in Gibraltar, the local government said.

The 240-foot Axioma is owned by the Russian businessperson Dmitry Pumpyansky, the government of Gibraltar, a British overseas territory on Spain's south coast, told Insider.

Pumpyansky, who has an estimated net worth of $1.1 billion, is the owner of Russia's largest steel-pipe-maker, TMK, Forbes reported. His assets were frozen by the UK and the EU as part of sanctions imposed last week over Russia's invasion of Ukraine.

Axioma is valued by SuperYachtFan at $75 million. It was previously docked in Antigua, an island in the Caribbean, until it set sail on March 3. It arrived in Gibraltar 18 days later, the ship tracker Marine Traffic showed.

In a statement on Monday, Gibraltar's government said Axioma was "confirmed to be the subject of an arrest action by a leading international bank in the Supreme Court of Gibraltar." It added, "The vessel is now subject to arrest by the Admiralty Marshal until further order."

In a later statement to Insider, the Gibraltar government said, "The owner of the yacht is Dmitry Pumpyansky."

Axioma, built in 2013, can host 22 guests and crew members on board, SuperYachtFan said. Axioma also features two big swimming pools, a gym, and a cinema, SuperYachtFan added.

Several superyachts linked to Russian oligarchs have been seized by countries that have sanctioned them as part of efforts to punish Russia and President Vladimir Putin for invading Ukraine.

Italy has seized a $578 million yacht linked to Andrey Melnichenko; France has impounded a $120 million vessel linked to Igor Sechin; and Spain has detained a $153 million superyacht linked to Sergei Chemezov.