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Italy freezes Russian oligarch’s $580-million yacht over Ukraine

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The ‘SY A’ is said to be the largest private sailing-assisted motor yacht in the world

Italian authorities said Saturday they had “frozen” a 530-million-euro ($580-million) yacht linked to Russian oligarch Andrei Melnichenko, who has been sanctioned by the EU over the Ukraine war.

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The “SY A”, located in the northeast port of Trieste, is said to be the largest private sailing-assisted motor yacht in the world.

Italy’s financial crimes police said it had been found to be “indirectly attributable, through a company based in Bermuda, to Andrei Melnichenko”.

The multi-billionaire coal-and-fertiliser magnate was named earlier this week on a European Union blacklist, subject to an assets freeze and visa ban.

Earlier this month, Italy seized Russian oligarch assets worth around 140 million euros, including the 65-million-euro “Lady M Yacht” belonging to metals magnate Alexei Mordashov.

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