Parliament will decide how Alfa Nero funds are used

Editorial Staff

Editorial Staff

The Alfa Nero moments after it was siezed by Antigua and Barbuda (Photo by Wayne Mariette)

How the Alfa Nero funds will be used will be determined by Parliament says Chief of Staff in the Office of the Prime Minister Lionel Max Hurst

The government could be just weeks away from auctioning the former Russian Superyacht which was seized by the government after remaining unclaimed for over a year

Hurst said the government has all intentions to table the matter before Parliament to be guided on the disposal of the extra funds from the sale

The government is expected to receive a windfall from the sale of the Alfa Nero which is currently moored at the Falmouth Habour however a sizable amount of that money will be used to pay off debts racked up by the vessel

“This matter will come before the Parliament and the way the money is to be spent will become a public issue. I don’t have the accurate details about how that money will be spent but once we pay all the bills connected to it being moored here, we are going to have quite a windfall and how it will be spent will be determined in part by the Parliament,” Hurst said

The intended sale of the vessel 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


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