Germany has reportedly seized Russian billionaire Alisher Usmanov's $600 million yacht

Russian billionaire Alisher Usmanov's 512-foot yacht Dilbar has been seized by German authorities, three people familiar with the matter told Forbes on Wednesday.

Usmanov is one of the Russian billionaires and oligarchs facing European Union sanctions because of the Russian invasion of Ukraine.

The $600 million vessel was custom made by the German shipbuilder Lürssen, a job that took more than four years to complete. Dilbar is the world's largest motor yacht by gross tonnage, and boasts the biggest swimming pool ever put on a yacht, two helicopter pads, a beauty salon, a gym, a sauna, and 12 suites. Dilbar was in a Hamburg shipyard when it was seized, Forbes says.

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Usmanov holds stakes in iron ore, steel, consumer electronics, telecom, mining, and media companies, and was one of the first investors in Facebook. He owns properties in the United Kingdom, Germany, Switzerland, Monaco, and Sardinia, and in 2018 made nearly $700 million in cash when he sold his 30 percent stake in the English soccer team Arsenal FC, Forbes reports.

After the EU announced its sanctions against him, Usmanov released a statement on Tuesday saying the "reasons employed to justify the sanctions are a set of false and defamatory allegations damaging my honor, dignity, and business reputation. I will use all legal means to protect my honor and reputation."