Italian police have arrested a yacht belonging to one of Russia's richest men, Alexei Mordashov. The yacht of businessman, and close ally of Putin, Gennady Tymchenkowas was also confiscated. The seizure of property took place in the presence of the owners’ lawyers, according to Reuters.
According to media reports, the 65-meter yacht "Lady M", which belonged to Mordashov, was arrested in the city of Imperia near San Remo. The second yacht "Lena" belonged to Gennady Tymchenko.
La Repubblica estimates the cost of the two yachts at €140 million.
Germany confiscated the yacht of Russian billionaire Alisher Usmanov on 28 February. French customs officers seized “Amore Vero” the yacht of Rosneft CEO Igor Sechin as part of EU sanctions against Russia.