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regular-article-logo Tuesday, 08 October 2024

Italy cracks down on Russian oligarchs

Italian police have seized villas and yachts worth at least $153 million from four high-profile tycoons who share close ties with Vladimir Putin

Reuters Rome Published 06.03.22, 01:44 AM
 Alexey Mordashov

Alexey Mordashov Shutterstock

Italian police have seized villas and yachts worth at least $153 million from four high-profile Russians who were placed on an EU sanctions list following Moscow’s attack on Ukraine, sources said on Saturday.

A police source said a villa owned by billionaire businessman Alisher Usmanov on the Mediterranean island of Sardinia, and a villa on Lake Como owned by state TV host Vladimir Soloviev, had both been seized.

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In addition, sources confirmed that yachts belonging to Russia’s richest man, Alexey Mordashov, and Gennady Timchenko, who has close ties with Russian President Vladimir Putin, were impounded overnight in northern Italian ports.

Russian oligarchs are believed to have bought numerous villas in choice Italian locations over the past 20 years and sources said more assets were expected to be seized in coming days as western states implement massive sanctions to try to force Russia to withdraw from Ukrain

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