Russian warship Dimitrii Donskoi 'found off South Korea'

Russian warship Dimitrii Donskoi 'found off South Korea'

Russian warship Dimitrii Donskoi 'found off South Korea'

The sunken battle ship was discovered by a joint team made up of experts from South Korea, Britain and Canada on Sunday using two manned submersibles to capture footage of the vessel. Shinil is speculating on what the ship may have carried: 200 tons of gold that supposedly might be worth up to $132 billion.

Are these the remains of the 113-year-old Russian warship, the Dmitri Donskoi, which is thought to have sunk carrying 200 tonnes of gold?

The Dmitrii Donskoi first set sale in 1885 and spent 20 years sailing around the Baltic and Mediterranean Seas as part of Russian Baltic fleet.

Russian Federation will also get an equal share of the money as they are the rightful owners of the ship and have been helping the South Korean firm with their search for the wreck.

A massive Russian ship with a potential fortune in gold on board has been discovered at the bottom of the ocean more than a century after it sank, a South Korean company said Thursday. Therefore, investors were warned by South Korea's Financial Supervisory Service that there are still plenty of questions that need to be answered surrounding these claims.

The gold on board could be the treasury of the entire fleet, United Kingdom newspaper Express reports, carrying enough for port expenses and the salaries of every sailor and officer.

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The Shinil Group, which is based in Seoul, hopes to raise the ship in October or November.

The specialist Canadian team was able to positively identify the ship when it found the name in Cyrillic on the hull.

In a separate statement on its website, Shinil Group described its newly launched "Donskoi International" crypto currency exchange as linked to the find. Company spokesman Park Seong-jin said his company will file a request for the ship's salvage right later this week.

Part of the remaining treasure would also help fund infrastructure projects in north east Asia such as a new railway linking South Korea and North Korea.

The company still has not applied for salvage rights to South Korea's Ministry of Maritime Affairs and Fisheries, BBC Korean says, and were it to do so it would need to pay 10% of the estimated value of the wreck - which, if rumours are true, would be far more than the company is worth.

But no proof exists that the ship carried gold, with academics raising doubts that a warship would carry such valuable cargo.

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