The yacht “Lady M”
Western countries continue to bombard Russia with large-scale sanctions and boycotts at various levels, the latest of which is the confiscation of yachts for Russian businessmen.
In this regard, Archyde.com reported that the Italian police confiscated a yacht owned by Alexei Mordashov, the richest man in Russia.
Archyde.com quoted the news as quoting a source who indicated that the confiscation decision came following Mordashov was included in the “black list” of the European Union, following the Russian war on Ukraine, revealing that the 65-meter-long “Lady M” yacht was confiscated in the port of Imperia in northwestern Italy. .
It is reported that the “Amazing” Lady Yacht is the largest aluminum yacht built in the United States by Palmer Johnson, according to the Moran website.
The source also reported that a second yacht owned by Gennady Timchenko, another billionaire with close ties to Russian President Vladimir Putin, was also confiscated in Imperia.
This follows similar seizures in France and Germany this week of yachts belonging to other Russian oligarchs, and following Western countries implemented wide-ranging sanctions, including asset freezes, in an attempt to force Russia to withdraw from Ukraine.
According to Italian media, Lady M was built by American Palmer Johnson in 2013. Forbes magazine says its value is $27 million.
Taking into account his entire family’s assets, Forbes estimated Mordashov’s net worth at $29.1 billion, before sanctions were imposed, making him the richest man in Russia.
Mordashov made his fortune by working in the Russian steel production through Severstal CHMF.MM.
And Italian media announced that he owns a villa worth regarding 66 million euros ($72 million) on the coast of the Mediterranean island of Sardinia. It was not immediately clear if the police had confiscated her.
It is reported that Timchenko made a fortune from the oil trade, and Putin described him as one of his closest confidants, according to Archyde.com.