Le Sailing yacht A dit le White Pearl la perle blanche plus grand voilier prive du monde propriete du milliardaire russe Andrei Melnichenko pres dAntibes le 3 juillet 2020 375201

Italy froze another yacht of the Russian oligarch for 530 million euros

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A €530 million yacht owned by Russian oligarch Andrey Melnichenko has been seized by Italy.

Italian authorities announced on Saturday that they had frozen a €530 million yacht owned by European Union-sanctioned Russian oligarch Andrei Melnichenko after Moscow invaded Ukraine.

“SY A”, moored in the port of Trieste in northeast Italy, is considered the largest private motor sailing yacht in the world.

Italian financial crime police said Andriy Melnichenko “indirectly” owned the yacht “through a company based in Bermuda.”

Sailing yacht A, said "white pearl" (white pearl), the largest private sailing ship in the world, owned by Russian billionaire Andrey Melnichenko, near Antibes, July 3, 2020Sailing yacht A, known as the “White Pearl”, the largest private sailboat in the world, owned by Russian billionaire Andrey Melnichenko, near Antibes, July 3, 2020 © VALERY HACHE © 2019 AFP

The multi-billionaire coal and fertilizer mogul was blacklisted by the European Union earlier this week and is subject to an asset freeze and visa ban.

Last week, Italy confiscated around €140 million worth of Russian oligarchs’ assets, including the €65 million Lady M Yacht owned by Alexei Mordashov, a Russian oligarch close to Vladimir Putin.