Italian financial police has seized a Russian-owned superyacht valued at 530 million euros (USD 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.
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.
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 (USD 156 million) in luxury yachts and villas belonging to Russian billionaires in such picturesque retreats as Sardinia, the Ligurian coast and Lake Como.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU