PHI (yacht)

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PHI is a 58.5-meter (192 ft) superyacht built by Royal Huisman and delivered in 2021. It cost about £38 million ($50 million). The exterior design, inspired by a cobra, is by Cor D. Rover; the interior is by Lawson Robb. The yacht has an aluminium hull, 499 GT, a length of 58.5 m, beam of 9.73 m, and twin MTU 12V 2000 M96LS engines giving a top speed of around 22 knots. It can carry 12 guests and has a crew of 11. A 7-meter swimming pool, which can use seawater or freshwater, features a movable floor to free up deck space. There is also a large wine cellar. Phi’s support vessel, PHI Phantom, was built by Alia Yachts in Turkey with a matching exterior style.

Ownership and flag
Phi is registered to a Saint Kitts and Nevis company and sails under a Maltese flag. It was owned by Russian property developer Sergei Naumenko.

Sanctions and impoundment
In March 2022, the UK government sanctioned Phi in connection with Russia’s invasion of Ukraine and impounded the yacht at Canary Wharf. This marked the first time the UK used sanctions on a ship. The impounding followed actions by the Department for Transport with support from the National Crime Agency and the Border Force.

Legal proceedings and status
Naumenko challenged the sanctions in the High Court in 2023; the court ruled the detention lawful, noting Phi’s high value and links to Russia. Naumenko appealed, and in February 2024 the Court of Appeal upheld the sanctions, while criticizing some of the earlier statements by then-Transport Secretary Grant Shapps. Phi remains docked at Canary Wharf under guard, and Naumenko is not allowed to access or use the vessel, though he continues to maintain it.

Timeline
- December 2021: Phi arrives in London for a winter stopover in Canary Wharf.
- March 28, 2022: UK sanctions announced; Phi is impounded before it could depart for Malta.
- 2023–2024: High Court and Court of Appeal decisions regarding the sanctions, with the Court of Appeal upholding the sanctions in February 2024.

Current status
As of early 2024, Phi stays docked at Canary Wharf under UK guard, with ownership and maintenance arrangements unresolved for access by Naumenko.