ROME (REUTERS) - Italian police have seized a superyacht from Russian billionaire Andrey Igorevich Melnichenko, the prime minister's office said on Saturday (March 12), a few days after the businessman was placed on an EU sanctions list following Russia's invasion of Ukraine.

The 143-metre (470-foot) Sailing Yacht A, which has a price tag of 530 million euros (S$791 million), has been sequestered at the northern port of Trieste, the government said.

Designed by Philippe Starck and built by Nobiskrug in Germany, the vessel is the world’s biggest sailing yacht, the government said.  

Melnichenko owned major fertiliser producer EuroChem Group and coal company SUEK.

The companies said in statements on Thursday that he had resigned as a member of the board in both companies and withdrawn as their beneficiary, effective Wednesday.

Last week, Italian police seized villas and yachts worth 143 million euros (S$212 million) from five high-profile Russians who have been placed on the sanctions list.

The police operations were part of a coordinated drive by Western states to penalise wealthy Russians linked to President Vladimir Putin.