Russian owned 215ft (65-metre) ‘Lady M’ impounded in northern Italian port of Imperia
Italian police have seized a yacht owned by Alexei Mordashov, the richest man in Russia before being blacklisted this week by the European Union following Moscow’s attack on Ukraine.
Guardian.com reported that Mordashov built his wealth around the Russian steel producer Severstal.
Taking into account the assets of his whole family, Forbes estimates that Mordashov had an estimated net worth of $29.1bn before sanctions hit, making him the richest man in Russia.
A second yacht owned by Gennady Timchenko, another billionaire who has close ties to Russian President Vladimir Putin, is also blocked in Imperia and expected to be impounded.
France’s finance minister announced the seizure of a yacht linked to Igor Sechin, the boss of Rosneft, in the Mediterranean port of La Ciotat.