September 28, 2022

Brighton Journal

Complete News World

Report: Italian authorities confiscate Russian yachts

Report: Italian authorities confiscate Russian yachts

Yachts owned by two of Russia’s richest businessmen have been seized in Italy as part of EU sanctions.

Raid Italian police On Friday, according to the BBC.

Russia invades Ukraine: live updates

Authorities confiscated a 213-foot yacht worth $27 million owned by him Alexey MordashovIn the northern port of Imperia, according to local officials.

Alexey Mordashov, Chairman of the Board of Directors of Severstal. (Reuters/Reuters Photo)

Mordashov is considered a close ally of President Vladimir Putin And the richest man in Russia.

His fortune is estimated at $29 billion and he built his fortune around Russian steel producer Severstal.

Get your FOX business on the go by clicking here

The other yacht is reportedly owned by Gennady Timchenko, another arbiter with close ties to Putin.

Russian businessman Gennady Timchenko. (Reuters/Reuters Photo)

Timchenko reportedly owns about $17 billion in assets and made his fortune from the oil trade.

They are among 680 individuals and 53 entities sanctioned by the European Union on Monday.

CLICK HERE TO READ MORE ABOUT FOX BUSINESS

These are the latest seizures, joining other raids in France and Germany earlier this week.

See also  Russians and Ukrainians blame each other again for new bombing near nuclear power plant