Italian police have seized a superyacht owned by Russian billionaire Andrey Igorevich Melnichenko, the prime minister's office said on Saturday, a few days after the businessman was placed on an EU sanctions list following Russia's invasion of Ukraine.
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The 143-meter (470-foot) Sailing Yacht A, which has a price tag of €530 million ($578 million), has been sequestered at the northern port of Trieste, the government said.
Melnichenko owned major fertilizer producer EuroChem Group and coal company SUEK. The companies said in statements on Thursday that he had resigned as a member of the board in both companies and withdrawn as their beneficiary, effective Wednesday.
A spokesperson for Melnichenko, Alex Andreev, said the businessman had "no relation to the tragic events in Ukraine. He has no political affiliations."
