Italian authorities have seized a superyacht owned by Russian billionaire Andrey Melnichenko as pressure on Russia’s elite continues following the invasion of Ukraine.
The vessel seized by Italian financial police is owned by Russian billionaire Andrey Melnichenko, founder of fertilizer company EuroChem, and is worth an estimated 530 million euros ($580 million).
It may be the world’s biggest sailing yacht and was docked in the port of Trieste in northern Italy, according to a statement from Prime Minister Mario Draghi’s office.
Italian authorities previously detained superyachts owned by billionaires Gennady Timchenko and Alexey Mordashov as part of EU efforts to punish wealthy Russians with ties to President Vladimir Putin.
