The superyacht owned by Russian billionaire Andrey Igorevich Melnichenko at the northern port of Trieste, Italy
(Picture: REUTERS)Italian police have seized a superyacht owned by Russian billionaire Andrey Igorevich Melnichenko, the Prime Minister’s office announced.
It comes days after the businessman was placed on an EU sanctions list following Russia’s invasion of Ukraine.
The 143-metre (470-foot) Sailing Yacht A, which has a price tag of 530 million euros (£443 million), has been sequestered at the northern port of Trieste, the government said.
The vessel, designed by Philippe Starck and built by Nobiskrug in Germany, is the world’s biggest sailing yacht.
Oligarch Melnichenko owned major fertiliser producer EuroChem Group and coal company SUEK.
The companies said in statements on Thursday that he had resigned as a member of the board in both companies and withdrawn as their beneficiary, effective Wednesday.
Videos on social media show police in cars with flashing lights approaching the triple-mast yacht as officers begin boarding.
A spokesperson for Melnichenko, Alex Andreev, said the businessman had "no relation to the tragic events in Ukraine. He has no political affiliations".
"There is no justification whatsoever for placing him on the EU sanctions list," his spokesperson told Reuters. "We will be disputing these baseless and unjustified sanctions, and believe that the rule of law and common sense will prevail.”
Last week, Italian police seized villas and yachts worth 143 million euros (£119 million) from five high-profile Russians who have been placed on the sanctions list.
The luxury properties were sequestered in some of Italy’s most prestigious retail estate locations - the island of Sardinia, by Lake Como and in Tuscany - while two superyachts were grabbed at their moorings in northern ports.
Billionaire businessman Alisher Usmanov had a villa worth 17 million euros seized on the Mediterranean island of Sardinia.
Oleg Savchenko, a member of the Russian parliament, had his 17th century house near the Tuscan city of Lucca, worth some 3 million euros, taken from him.
Uzbekistan-born metals and telecoms tycoon Usmanov is well known in Italy for owning multiple properties on Sardinia.
Italian media said Mordashov owned a villa worth some 66 million euros ($72 million) on the same island.
Taking into account the assets of his whole family, Forbes magazine estimates that Mordashov had an estimated net worth of $29.1 billion before sanctions hit.
Mirko Idili, a coordinator of the CISL union in Sardinia, has warned the sanctions and a reduced presence of rich Russians this summer could negatively affect the island’s economy and put more than 1,000 jobs at risk.
The police operations were part of a coordinated drive by Western states to penalise wealthy Russians linked to President Vladimir Putin.
