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Ground Report | New Delhi: Sailing yacht; A superyacht owned by Russian billionaire Andrey Igorevich Melnichenko has been seized by Italian police. The $578 million sailing yacht A, which is the world's largest sailing yacht according to the Italian government, has been seized in the northern port of Trieste, the government said.
Italian authorities have seized a superyacht owned by a Russian billionaire placed on an EU sanctions list following Russia's invasion of Ukraine. The ship, Sailing Yacht A, belongs to Russian billionaire Andrey Igorevich Melnichenko, who owns major fertilizer producer EuroChem Group and coal company SUEK.
The ship, estimated to be worth around $578 million, is the world's largest sailing yacht, the Italian government said. Officials from the Italian financial police seized it on March 11, the ANSA news agency reported.
The boat is over 465 feet long and can hold up to 20 guests, according to SuperYachtFan. The website says that Sailing Yacht A also features an underwater viewing area and is worth more than $500 million.
Last week, Italian police seized $156 million worth of villas and yachts from five high-profile Russians who were placed on the sanctions list.
The police operations were part of a coordinated campaign by Western states to penalize wealthy Russians with ties to President Vladimir Putin.
The UK expanded its sanctions regime against seven Russian oligarchs on Thursday over their links to Putin. Chelsea owner Roman Abramovich was the highest-profile name on the list as the UK government imposed an asset freeze and travel ban on the billionaire.
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