Italy Seizes Property Belonging To Russian Oligarch Mordashov

MILAN, Italy – Italy has seized a building complex on the Mediterranean island of Sardinia worth around 105 million euros ($116.2 million) owned by Russian businessman Alexey Mordashov, Prime Minister Mario Draghi’s office said on Friday.

The operation was part of a broad, Western drive to penalise wealthy Russian linked to President Vladimir Putin following the Feb.24 invasion of Ukraine.

It was the second time this month that assets belonging to Mordashov, reputed to be Russia’s richest man, have been seized in Italy. Police on March 4 impounded his 65 metre (215ft) yacht, the ‘Lady M’, which has a price tag 65 million euros.

Mordashov, 56, is the son of a mill worker who became a steel magnate with estimated net worth a $29.1 billion.

In the last two weeks, Italian police have sequestered villas and yachts worth more than 780 million of euros from seven wealthy Russian who were placed on European Union sanctions lists following the assault on Ukraine.

The most valuable asset seized so far is a superyacht owned by billionaire Andrey Ignorevich Melnichenko, which is worth around 530 million euros and was impounded in the northern port of Trieste last Saturday.

The other Russian targeted so far in Italy are Alisher Usmanov, Vladimir Soloviev, Gennady Timchenko, Oleg Savchenko, Petr Aven.

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