Italy seizes Russian billionaire’s USD 578 million yacht

A general view of the superyacht LADY M moored next to the Glasgow Science centre on the River Clyde in Glasgow. (Photo by Andrew Milligan/PA Images via Getty Images)

Milan, Mar 12:
Italian financial police has seized a Russian-owned superyacht valued at 530 million euros (USD 578 million) in the port of Trieste as part of seizures of oligarch wealth to pressure Russian President Vladimir Putin to halt the war on Ukraine.
The “Sy A” yacht was identified by Italian police as belonging to belonging to billionaire Andrey Igorevich Melnichenko, who made a fortune in fertilizer production and coal energy.
It was seized Friday evening.
Video shows police in cars with flashing lights approaching the triple-mast yacht and officers boarding it.
Italian authorities last week seized some 143 million euros (USD 156 million) in luxury yachts and villas belonging to Russian billionaires in such picturesque retreats as Sardinia, the Ligurian coast and Lake Como. (AP)