Russian yacht Amadea. [Source: US Embassy]

The stay order on the Russian yacht Amadea has been extended until next week as the matter will be heard before a full Court of Appeal.

The yacht was restrained from leaving Fiji waters last week after lawyer Feizal Haniff who is representing Millemarin Investment Limited which is the registered owner of the Amadea filed an appeal on the decision by the Civil High Court.

The Civil High Court last Friday granted a warrant from the United States to seize the Amadea and denied an application from Haniff for an interim stay on the execution of the seizure.

Russian yacht Amadea. [Source: US Embassy]

Haniff then took the matter to the Court of Appeal which granted a temporary stay order.

The matter was called in the Court of Appeal this morning.

Director of Public Prosecution Christopher Pryde says the stay needs to be lifted because it is costing the government $1 million a week to keep the super yacht in the country.

Pryde and Haniff sought directions in the Court of Appeals today.

The yacht is owned by Russian billionaire Suleiman Kerimov and berthed at the Lautoka Wharf last month.

Russian yacht Amadea. [Source: US Embassy]

It is valued at $700 million.

The matter will be heard next Wednesday.

Russian yacht Amadea. [Source: US Embassy]