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Italy confiscates one of the world’s largest cruise ships belonging to Russian oligarchs

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TRIBUNNEWS.COM – A magnificent £530 million yacht belonging to Russian oligarch Andrey Melnichenko was seized on Friday (11/3/2022) by Italian authorities.

Reported IndependentThe ship, dubbed “Sailing Yatch A” is in a warehouse in the northeastern port of Trieste, Italy’s financial police said in a statement.

Andrey Melnichenko is one of a number of elite Russians recently sanctioned by the EU for allegedly having close ties to the Kremlin.

In announcing its decision, the EU said Melnichenko – who owns fertilizer producer EuroChem Group and coal company SUEK – was among 36 businesses who met with Putin and other officials on February 24 to discuss the impact of economic sanctions by the EU and the European Union.

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The Council of the European Union’s decision says:

“The fact that he (Melnichenko) was invited to attend the meeting shows that he is a member of Vladimir Putin’s closest circle and that he supports or implements actions or policies that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine, as well as stability and security in Ukraine.”

“It also shows that he is one of the leading businessmen involved in the economic sector that provides a substantial source of income for the Russian government, which is responsible for the annexation of Crimea and the destabilization of Ukraine.”

This photo taken on March 10, 2022, shows the yacht “A” belonging to Russian oligarch Andrey Melnichenko in Trieste, Italy. The yacht “A” is the world’s largest sail-assisted private motorized yacht. (Jure Makovec / AFP)

Melnichenko has a net worth of around £8.4 billion, making him the eighth richest person in Russia, according to Forbes.

The 143 m long superyacht SY A was built by German shipbuilder Nobiskrug and features a number of facilities, including an underwater observation deck and hybrid diesel-electric propulsion.

European countries quickly responded to the Russian invasion by seizing assets from the Russian oligarchs.

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