These boats are also known as "megayachts", "gigayachts" and even "terayachts", usually depending on length.
[3][4] The only legal distinction between boats above 24 m (78.75 ft) and below is that those above 24 m are viewed as a yacht and therefore must have a licensed skipper on board.
Following the 2022 Russian invasion of Ukraine, many countries announced sanctions against Russia and Russian President Vladimir Putin, along with a group of men known as Russian oligarchs, that are close friends as well as business and political allies of Putin.
The sanctions have led to the seizure of their bank accounts and properties through civil forfeiture, (outside of Russia and non-participating countries), including yachts, private jets, expensive artworks, luxury homes, etc., alleging these assets to be the proceeds of crime.
[288] [Note 1]Atlantis II and Navtilvs were built as part of a trio of sister ships, though the third was never completed.