Italy seizes property belonging to Russian oligarch Alexei Mordashov

ROME (REUTERS) - Italy has seized a building complex on the Mediterranean island of Sardinia worth around €105 million (S$150 million) owned by Russian businessman Alexei Mordashov, Prime Minister Mario Draghi's office said on Friday (March 18).

The operation was part of a broad, Western drive to penalise wealthy Russians linked to President Vladimir Putin following the Feb 24 invasion of Ukraine.

It was the second time this month that assets belonging to Mordashov, reputed to be Russia's richest man, have been seized in Italy. Police on March 4 impounded his 65m-long yacht, the "Lady M", which had a price tag of €65 million.

Mordashov, 56, is the son of a mill worker who became a steel magnate with estimated net worth of US$29.1 billion (S$39 billion).

In the last two weeks, Italian police have sequestered villas and yachts worth more than €780 million from seven wealthy Russians who were placed on a European Union sanctions list following the assault on Ukraine.

The most valuable asset seized so far is a superyacht owned by billionaire Andrey Igorevich Melnichenko, which is worth around €530 million and was impounded in the northern port of Trieste last Saturday.

The other Russians targeted so far in Italy are Alisher Usmanov, Vladimir Soloviev, Gennady Timchenko, Oleg Savchenko, Petr Aven.