Italian officials announced on Saturday that a 530-million-euro ($580-million) boat linked to Russian businessman Andrei Melnichenko, who has been sanctioned by the EU over the Ukraine war, has been “frozen.”
The “SY A,” based at Trieste’s northeast port, is considered to be the world’s largest private sailing-assisted motor yacht.
It was discovered to be “indirectly connected to Andrei Melnichenko, through a firm situated in Bermuda,” according to Italy’s financial crimes police.
The multibillionaire coal and fertilizer baron was placed on a European Union blacklist earlier this week, resulting in an asset freeze and a visa restriction.
Italy confiscated Russian oligarch assets worth over 140 million euros earlier this month, including metals mogul Alexei Mordashov’s 65-million-euro “Lady M Yacht.”