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Business

Italy court turns down request to unfreeze Russian businessman's yacht

Alexey Mordashov Russia Italy Police Ukraine

FILE PHOTO: Alexey Mordashov, Chairman of the Board of Directors of Severstal, speaks during a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 16, 2022. REUTERS/Maxim Shemetov/File Photo

An Italian court has thrown out requests to unfreeze billionaire Alexey Mordashov's yacht which was seized by the police as part of a drive by Western states to target wealthy Russians after the invasion of Ukraine.

Mordashov's 65 metre (215 ft) Lady M yacht, which has a price tag of 65 million euros ($68 million), was seized by the Italian police in the northern port of Imperia in March.

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