Russian Oligarch Andrei Melnichenko’s €530million yacht has been seized by Italy, as Russia and Putin continue their invasion of Ukraine.
According to the report by AFP, Italian authorities announced on Saturday that they had frozen a yacht worth 530 million euros belonging to Russian oligarch Andrei Melnichenko, targeted by European Union sanctions after Moscow invaded Ukraine.
The “SY A”, moored in the port of Trieste in northeastern Italy, is said to be the largest private motor sailing yacht in the world, the report revealed.
Italian financial crime police claimed Andrei Melnichenko “indirectly” owned the yacht, “through a company based in Bermuda”.
A multi-billionaire coal and fertilizer magnate, he was blacklisted by the European Union earlier this week and is subject to an asset freeze and visa ban.
Italy last week seized assets of oligarchs worth around 140 million euros, including the 65 million euro ‘Lady M Yacht’ owned by Alexei Mordashov, a Russian oligarch close to Vladimir Putin.