SY A: Italy seizes one of the world’s largest superyachts owned by Russian businessman

The vessel, called “SY A”, is in storage at the northeastern port of Trieste

A £530 million mega yacht owned by Russian oligarch Andrey Melnichenko was seized on Friday by Italian authorities.

The vessel, called “SY A”, was in storage at the northeastern port of Trieste, a statement from Italy’s financial police said.

Mr Melnichenko was one of a number of Russian elites recently sanctioned by the EU over close supposed links to the Kremlin, in response to Vladimir Putin’s decision to invade Ukraine.

In announcing its decision the EU said Mr Melnichenko - who owns fertilizer producer EuroChem Group and coal company SUEK - was among a group of 36 businesspeople who met with Mr Putin and other officials on February 24 to discuss the impact of economic sanctions by the EU and EU.

The EU Council decision said: “The fact that he was invited to attend this meeting shows that he is a member of the closest circle of Vladimir Putin and that he is supporting or implementing actions or policies which 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 businesspersons involved in economic sectors providing a substantial source of revenue to the government of Russia, which is responsible for annexation of Crimea and ​destabilization of Ukraine.”

The businessman is worth approximately £8.4billion ($11 billion) - making him the eight richest man in Russia, according to Forbes.

The 143m (469ft) long superyacht was constructed by German shipbuilder Nobiskrug and features a host of amenities, including an underwater observation pod and hybrid diesel-electric propulsion.

Andrey and Aleksandra Melnichenko (Richard Young / Rex Features)

European countries have responded rapidly to seize assets from Russian oligarchs and have already taken a number of the sailing vessels.

Italian authorities have taken Lena belonging to Gennady Timchenko, in the port of San Remo and the Lady M owned by Alexei Mordashov in nearby Imperia.

And French customs officials seized the yacht of Rosneft boss Igor Sechin, before it attempted to flee a French Riviera port.

A number of superyachts owned by Russian billionaires appeared to have found temporary haven in the Maldives, a luxury holiday destination, that crucially does not have an extradition treaty with the US or EU.

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