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Yachts owned by two of Russia’s richest businessmen have been seized in Italy as part of EU sanctions.
Raid Italian police On Friday, according to the BBC.
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Authorities confiscated a 213-foot yacht worth $27 million owned by him Alexey MordashovIn the northern port of Imperia, according to local officials.
Alexey Mordashov, Chairman of the Board of Directors of Severstal. (Reuters/Reuters Photo)
Mordashov is considered a close ally of President Vladimir Putin And the richest man in Russia.
His fortune is estimated at $29 billion and he built his fortune around Russian steel producer Severstal.
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The other yacht is reportedly owned by Gennady Timchenko, another arbiter with close ties to Putin.
Russian businessman Gennady Timchenko. (Reuters/Reuters Photo)
Timchenko reportedly owns about $17 billion in assets and made his fortune from the oil trade.
They are among 680 individuals and 53 entities sanctioned by the European Union on Monday.
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These are the latest seizures, joining other raids in France and Germany earlier this week.
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