Italy seizes another Russian oligarch's yacht over Ukraine
Italian authorities said Saturday they had "frozen" a 530-million-euro ($580-million) yacht linked to Russian oligarch Andrei Melnichenko, who has been sanctioned by the EU over the Ukraine war.
The "SY A", located in the northeast port of Trieste, is said to be the largest private sailing-assisted motor yacht in the world.
Italy's financial crimes police said it had been found to be "indirectly attributable, through a company based in Bermuda, to Andrei Melnichenko".
The multi-billionaire coal-and-fertiliser magnate was named earlier this week on a European Union blacklist, subject to an assets freeze and visa ban.
Earlier this month, Italy seized Russian oligarch assets worth around 140 million euros, including the 65-million-euro "Lady M Yacht" belonging to metals magnate Alexei Mordashov.
Yachts, symbols of the massive wealth accrued by Russia's elite, are among their overseas assets being targeted by Western sanctions.
The EU sanctions target more than 500 Russian individuals or entities whose assets are to be traced and frozen.
READ ALSO: Russian invasion of Ukraine: What has Italy’s response been so far?
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The "SY A", located in the northeast port of Trieste, is said to be the largest private sailing-assisted motor yacht in the world.
Italy's financial crimes police said it had been found to be "indirectly attributable, through a company based in Bermuda, to Andrei Melnichenko".
The multi-billionaire coal-and-fertiliser magnate was named earlier this week on a European Union blacklist, subject to an assets freeze and visa ban.
Earlier this month, Italy seized Russian oligarch assets worth around 140 million euros, including the 65-million-euro "Lady M Yacht" belonging to metals magnate Alexei Mordashov.
Yachts, symbols of the massive wealth accrued by Russia's elite, are among their overseas assets being targeted by Western sanctions.
The EU sanctions target more than 500 Russian individuals or entities whose assets are to be traced and frozen.
READ ALSO: Russian invasion of Ukraine: What has Italy’s response been so far?
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