[WATCH] Russian billionaire with Malta passport parks superyacht in Birgu

A 70-metre superyacht belonging to Russian billionaire Maxim Shubarev docked in Birgu on Friday morning amid an EU crackdown following Russia’s invasion of Ukraine.

Shubarev is chairman of Setl Group, one of Russia’s largest financial and industrial associations. Neither Shubarev or Setl Group feature on the current sanctions list.

Maxim Shubarev (right) with Russian president Vladimir Putin

In 2018, Shubarev purchased a Maltese passport through its citizenship by investment scheme.

He bought his superyacht, the Malta-flagged Polaris last summer. The yacht is valued at €80 million.

It is unclear whether Shubarev is on the yacht, which embarked on its voyage to Malta from Viareggio in Italy on Thursday. It arrived at the Birgu marina at 9am on Friday.

The Polaris moored at the Birgu marina after arriving in Malta from Italy (Photo: Nicole Meilak/MaltaToday)

His trip comes at a time when many EU countries have cracked down on the super yachts of the Russian elite, as part of sanctions imposed on Russia over its invasion of Ukraine.

Indeed, French authorities this week seized the yacht of Igor Sechim, who served as Russia’s deputy prime minister from 2008 to 2012.