Italy seizes a yacht for Russian oligarchs worth 2.9 billion Brazilian riyals

On Saturday (12) the Italian authorities announced that they had seized a yacht worth 530 million euros (about 2.9 billion Brazilian reais) belonging to Russian oligarch Andrei Melnichenko, listed in Persons subject to sanctions by the European Union After Russia invaded Ukraine.

The sailing yacht A, moored in the port of Trieste in northeastern Italy, is the largest sailing vessel in the world.

Italian Financial Crimes Police alleged that Melnichenko was “indirectly” the yacht’s owner “through a company based in Bermuda”.

The billionaire coal and fertilizer tycoon, who was on the EU sanctions list earlier this week, had his assets frozen and his visa banned.

Last week, Italy confiscated about €140 million (about R$775 million) in property from other Russian oligarchs, including the Lady M yacht (about R$360 million), led by Alexei Mordashov, a businessman close to Russian President Vladimir put it in the .