A Russian billionaire has a $7 million yacht.

A spokesman for the Areti International Group said that the 128-foot yacht, called Areti I, has been in St. Augustine for years.

Forbes published an article naming the yacht among over 30 that are owned by Russian billionaires or billionaires born in Russia.

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A 128-foot yacht belonging to billionaire Igor Makarov sits docked at the Camachee Cove Yacht Harbor, north of the Vilano Bridge, on March 8, 2022.
A 128-foot yacht belonging to billionaire Igor Makarov sits docked at the Camachee Cove Yacht Harbor, north of the Vilano Bridge, on March 8, 2022.

Who is Igor Makarov?

According to Forbes, the founder of Itera, Russia's first independent gas company, is worth more than $2 billion. Itera was bought by Rosneft for over $3 billion.

According to his website, the Areti International Group focuses on investments in the oil and gas sector, engineering, power supply, real estate development, as well as production and supply.

The firm is composed of subsidiaries and affiliated companies with interests in Russia, Switzerland, the Baltic States, United States, Canada, Western Europe and the Middle East.

Brian Cookson, of Britain, left, and Igor Makarov, after being elected president of the UCI, International Cycling Union, in Florence, Friday, Sept. 27, 2013. (AP Photo/Fabrizio Giovannozzi)
Brian Cookson, of Britain, left, and Igor Makarov, after being elected president of the UCI, International Cycling Union, in Florence, Friday, Sept. 27, 2013. (AP Photo/Fabrizio Giovannozzi)

The Record received a statement from Areti International Group.

Areti is an international company based in Switzerland. Areti has offices in many business centers around the world, including Switzerland, Cyprus and Russia. The company is not involved in any energy or business projects in either Russia or Ukraine. Both Areti and Mr. Makarov have never been the subject of any governmental sanctions.

According to a report in the Financial Post, a Russian billionaire recently acquired almost 20% of the shares of a Canadian natural gas producer. A billionaire born in the Soviet Union, Makarov was a major player in the Russian oil and gas sector, with ties to close Putin allies. The list was criticized for cribbing a Forbes report of Russia's richest individuals.

According to Forbes, Areti I is in the Cayman Islands. Forbes used data from VesselsValue.

The article originally appeared on the St. Augustine Record.

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