Italy Confiscated The Villas And Yachts Of The Oligarchs In The First Stage

ROME, March 5 – Italian police have confiscated at least 140 million euros ($153 million) worth of villas and yachts from four senior Russians who were placed on the EU sanctions list after Moscow’s attack on Ukraine, sources said on Saturday. More

A police source said billionaire businessman Alisher Usmanov’s villa on the Mediterranean island of Sardinia and a villa on Lake Como owned by state TV presenter Vladimir Solovyov were confiscated.

In addition, sources confirmed that yachts belonging to Russia’s richest man Alexei Mordashov and Gennady Timchenko, who is closely associated with Russian President Vladimir Putin, were confiscated overnight in the northern Italian port of Imperia. L5N2V75YZ

Over the past 20 years, Russian oligarchs are believed to have bought a slew of villas in select locations in Italy, and sources say more assets are expected to be seized in the coming days as Western states impose sweeping sanctions in an attempt to force Russia out of Ukraine.

On Friday, the Financial Intelligence Unit of the Bank of Italy instructed Italian banks to urgently report all measures taken to freeze the assets of individuals and entities on the EU list. More

Uzbek-born metal and telecommunications tycoon Usmanov is well known in Italy for owning several properties in Sardinia, and Italian media reports that Mordashov owned a villa worth about 66 million euros ($72 million) on the same island.

Taking into account the assets of his entire family, Forbes magazine calculated that before the imposition of sanctions, Mordashov’s fortune was estimated at $29.1 billion.

His 65-meter (215 ft) yacht “Lady M” cost 65 million euros, while Timchenko’s boat “Lena” cost about 50 million euros, a police source said.

Timchenko made his fortune in the oil trade, and Putin has named him one of his closest associates.

Solovyov reportedly complained on Russian television when he learned last month that he was in danger of losing his Italian villa.

“Suddenly someone decides that this journalist is now on the sanctions list. And that goes for your real estate. .

($1 = €0.9156)

Reporting by Emilio Parodi and Giuseppe Fonte; Writing by Crispian Ballmer; Editing by David Holmes

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