No timeline has been disclosed about when exactly the United States will lift its sanction off the Alfa Nero or just how long Antigua and Barbuda has to wait to select a buyer.
The government confirmed that more than 20 bids have been received for the acquisition of the vessel pending due diligence.
The intended sale of the former Russian Superyacht hit a snag recently when the government was informed that unless the US sanction is lifted, the vessel cannot be sold.
The Alfa Nero now has an Antiguan and Barbuda Flag, after the state seized the vessel several weeks ago. It was previously owned by a Russian billionaire.
It was delisted by the US Office of Foreign Assets Control (OFAC), which sanctioned the vessel based on its connection to the sanctioned Russian, Andrey Guryev.
The government has made an application to have the Alfa Nero delisted, so the prospective new owner can benefit from free, legal movement, but no success has yet been achieved in those efforts.
It costs the government a whopping US28K to maintain the vessel weekly. That price does not include the cost of fuel that is currently keeping the boat moored at the Falmouth Habour
The government is hoping to receive a windfall from the sale of the superyacht. That money will be placed into a consolidated fund