Emilio Parodi & Crispian Malmer

ROME (Reuters). – Italian police have seized yachts and villas valued at more than 140 million euros ($153million) belonging to four prominent Russians, who had been placed on an EU sanction list in response to Moscow’s attack against Ukraine. Sources said that the Italian police had seized these vessels.

Sources in police said that a villa, which belonged to Alisher Usmanov, a billionaire businessman, was taken from Sardinia. Also, Vladimir Soloviev’s villa at Lake Como had been taken.

Sources also confirmed that the yachts of Russia’s richest man Alexey Mordashov and Gennady Timothyenko were confiscated overnight at northern Italian ports. They are closely tied to Russian President Vladimir Putin. [L5N2V75YZ]

Russian oligarchs have been rumored to own many villas located in Italy over the last 20 years. Sources claim that more assets will be taken as Western countries implement severe sanctions in an effort to make Russia withdraw from Ukraine.

The Bank of Italy’s Financial Intelligence Division instructed Italian banks on Friday to immediately inform it about all steps taken to stop the EU-listed persons and entities from obtaining their assets.

Uzbekistani telecom and metals tycoon Usmanov has an Italian reputation for having multiple properties in Sardinia. Meanwhile, Italian media claim that Mordashov owned a Villa worth 66 Million Euros ($72M) on the same Island.

Forbes magazine estimated that Mordashov’s net worth was $29.1 Billion, taking into consideration his entire family.

The 65-metre yacht, “Lady M”, was priced at 65 million Euros and impounded in Imperia. Timchenko’s boat Lena, which was valued at 50 million, was taken into Sanremo.

Timchenko was a successful oil trader and is often referred to by Putin as his close associate.

Soloviev reportedly complained https://tinyurl.com/2p8994kf on Russian television when he found out last month that he risked losing his Italian villa.

One day, a person suddenly decides that the journalist should be placed on the sanctions list. It immediately affects your real property. Wait a minute. The Daily Beast quotes him as saying that “you told us Europe has sacred property right.”

While the European Union quickly reacted against those seen to be close to the Russian government’s leadership, Britain moved slower.

Boris Johnson, the British Prime Minister was quoted saying that on Saturday amendments to Britain’s legislation on economic crime would be submitted to Parliament on Monday in order to assist the government with its speedy actions.

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