Italian police have seized the yacht of Alexei Mordasov, Russia’s richest man, who was sanctioned by the European Union this week following Russia’s invasion of Ukraine.
The “Lady M”, 65 meters long, was located in the port of Imperia, in northern Italy.
Another luxury boat belonging to Gennady Timchenko, the billionaire who has close ties to Russian President Vladimir Putin, is also stranded in Imperia and will be seized soon, a source with immediate knowledge said.
Other boats belonging to Russian oligarchs were seized this week in France and Germany.
According to Italian media, Lady M was built in 2013 by the American company Palmer Johnson. Forbes magazine writes that its price reaches 27 million dollars.
Mordasov made a fortune through the Russian steel company Severstal. If the assets of his entire family are taken into account, according to Forbes, his fortune amounted to $ 29.1 billion (before the sanctions were imposed), which makes him the richest man in Russia.
He also owns a villa worth about 66 million euros in Sardinia. It has not been clarified at this time whether this property was confiscated by the Italian authorities.
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