Italy seizes Russian oligarch's $578M yacht

AP , Saturday 12 Mar 2022

Italian financial police have seized a Russian-owned superyacht valued at 530 million euros ($578 million) in the port of Trieste as part of seizures of oligarch wealth to pressure Russian President Vladimir Putin to halt the war on Ukraine.

Melnichenko s Yacht
A sailing yacht A owned by Russian oligarch Andrey Melnichenko in Trieste, Italy, on March 10, 2022. AFP

The "Sy A'' yacht was identified by Italian police as belonging to belonging to billionaire Andrey Igorevich Melnichenko, who made a fortune in fertilizer production and coal energy. It was seized Friday evening.

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Video shows police in cars with flashing lights approaching the triple-mast yacht and officers boarding it.

Italian authorities last week seized some 143 million euros ($156 million) in luxury yachts and villas belonging to Russian billionaires in such picturesque retreats as Sardinia, the Ligurian coast and Lake Como.

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