The state-owned Adriatic Croatia International Club (ACI), a chain of 22 marinas along the Croatian coast of the Adriatic, said on Monday that "for the time being there have been no cancellations of berths, or departures of vessels owned by Russians, on a larger scale," state news agency Hina said.

ACI, whose main source of revenue is charging berths for boat-owners visiting the Adriatic, said that Russian customers make up just 1 percent of their year-round berth contracts, and added that the number of contracts with Ukrainians is “even lower than that.”

The company issued a press release on the Zagreb Stock Exchange, reminding investors that its berth rental services are always paid in advance. “So the risk of delays of payment is not significant for the time being,” the company said.

ACI had 3,290 boats signed up for their year-long berth rental service in 2021. That year, the company posted a 13.4 million kuna (€1.8 million) net profit, vastly improved from the pandemic-hit 2020, when they posted a meager 198,000 kuna (€26,000) profit.

In response to Russia’s invasion of Ukraine, authorities across Europe began seizing property owned by rich Russian oligarchs last week, including luxury yachts and pleasure boats berthed at European ports and marinas. Although no such seizures have been reported in Croatia yet, large yachts owned by Russian billionaires have become a familiar sight in Croatian waters over the years, often seen in locations popular with upscale visitors such as the island of Hvar or the area around Dubrovnik and Cavtat.

(€1 = 7.56 kuna)