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MADRID (Reuters) - A $75-million superyacht linked to a sanctioned Russian steel billionaire was auctioned on Tuesday in Gibraltar, court sources said, in what is understood to be the first sale of its kind since Russia invaded Ukraine in February. The Axioma was granted entry into Gibraltarian waters and then impounded by the authorities in March after U.S. bank JP Morgan said its alleged owner Dmitry Pumpyansky had reneged on the terms of a $20 million loan. The 72.5-metre vessel is being auctioned by the Gibraltar Admiralty Court. It was listed for one day, with closed bids to be sent electronically by midday on Tuesday, a court spokesman said.
The five-deck Axioma, valued at $91 million, was seized in Gibraltar back in March by authorities in the British territory at the entrance to the Mediterranean Sea.