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Italy impounds mega yacht of Russian oligarch Melnichenko

Andrey Melnichenko’s SY A yacht

Andrey Melnichenko's SY A yacht

Italian authorities have seized Russian oligarch Andrey Melnichenko’s mega yacht, Italy’s finance police have announced.

The statement on Friday said the vessel — called “SY A” — is worth about 530 million euros ($578 million) and was in storage at the northeastern port of Trieste.

It’s one of the largest superyachts in the world, according to its manufacturer, Nobiskrug.

Melnichenko was sanctioned by the European Union on March 9 as part of expanded punitive measures against Russian oligarchs.

According to the EU, he owns the major fertilizer producer EuroChem Group and the coal company SUEK.

The EU council decision, which authorized sanctions against Melnichenko, noted he and 36 other business leaders met with Russian President Vladimir Putin after the invasion of Ukraine began.

They reportedly discussed the potential economic impact of EU and US sanctions.

CNN

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