Italy Seizes Russian Oligarch's Yacht
Italy seized a $580 million superyacht owned by Russian oligarch Andrey Melnichenko, Italian Prime Minister Mario Draghi's office announced, Bloomberg reported. The ship was nabbed in the port of Trieste in Northern Italy. Melnichenko was sanctioned by the EU following…
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Russia's invasion of Ukraine due to his status as a prominent Russian businessman involved in economic sectors that provide a substantial source of revenue to the Russian government. Melnichenko founded fertilizer and agricultural products manufacturer EuroChem and coal company Suek. After the sanctions were imposed March 9, he left his board positions at both companies, Bloomberg reported.