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Italy seizes Russian oligarch’s superyacht

A Finance Police officer boards the superyacht from Russian billionaire Andrey Igorevich Melnichenko which has been sequestered at the northern port of Trieste, Italy, March 12, 2022, in this screen grab taken from video, Finance Police/Handout via REUTERS

The prime minister’s office claimed on Saturday that Italian police had confiscated a superyacht belonging to Russian billionaire Andrey Igorevich Melnichenko, just days after the businessman was placed on an EU sanctions list following Russia’s invasion of Ukraine.

The news: The 143-meter (470-foot) Sailing Yacht A, valued at 530 million euros ($578 million), has been impounded at Trieste’s northern port, according to the government.

  • The vessel, designed by Philippe Starck and built by Nobiskrug in Germany, is the world’s largest sailing yacht, according to the government.
  • Melnichenko owns EuroChem Group, a significant fertiliser company, and SUEK, a coal company.
  • Five high-profile Russians who have been placed on the sanctions list had their houses and yachts valued at 143 million euros ($156 million) seized by Italian authorities last week.
  • The police raids were part of a coordinated effort by Western countries to punish Russians with ties to President Vladimir Putin.

($1 = 0.9167 euros)

A Finance Police car drives past the superyacht from Russian billionaire Andrey Igorevich Melnichenko which has been sequestered at the northern port of Trieste, Italy, March 12, 2022, in this screen grab taken from video, Finance Police/Handout via REUTERS
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