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Italian police seize villas, houses and yachts worth over $150 million from Russian oligarchs

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The Italian police have seized villas, houses and yachts worth 143 million euros (more than $150 million USD) from five Russian oligarchs over ties with Russian president, Vladimir Putin as Russia continues it’s war against Ukraine.

According to a police statement on Saturday, March 5, the Special Unit of the Financial Police, in collaboration with the Economic and Financial Police Unit of Imperia and the Aeronaval Operational Department of Genoa, executed asset-freezing orders on Friday against multiple Russian oligarchs.

Freezing orders were executed against the following people:

  1. Alexey Alexandrovits Mordaschov: yacht Lady M, located in the port of Imperia, worth approximately 65 million euros (about $71 million)

2.Gennady Nikolayevich Timchenko: yacht Lena, located in the port of San Remo, worth approximately 50 million euros (about $55 million)

  1. Alisher Usmanov: real estate compendium located in Golfo del Pevero in Arzachena, worth approximately 17 million euros (about $18 million)
  2. Vladimir Roudolfovitch Soloviev: properties located in the province of Como worth approximately 8 million euros (about $8.7 million)
  3. Oleg Savchenko: seventeenth-century villa named “Villa Lazzareschi” located in the province of Lucca, worth about 3 million euros (about $3.3 million)

These measures come after the European Union Council imposed sanctions on several high profile persons and entities over Russia’s military aggression against Ukraine.