Russia’s richest man Alexei Mordashov seized $116m property

0

Get the Insider app

A personalized feed, digest mode, and ad-free experience.

Download the app

close icon Two crossed lines that form an ‘X’. It indicates a way to close an interaction or dismiss a notification.

  • Italy seized property belonging to Alexei Mordashov for the second time this month.
  • The building complex, worth around $116 million, was seized on Friday, Reuters reported.
  • Mordashov is among Russian billionaires targeted by a series of sweeping global sanctions.

A building complex owned by Russian oligarch Alexei Mordashov was seized by Italian authorities on Friday, Prime Minister Mario Draghi’s office said.

The seizure of the property was first reported by Reuters.

According to the report, Mordashov’s building complex is worth around $116 million and is located in Portisco on the Mediterranean island of Sardinia.

Draghi’s office did not immediately respond to Insider’s request for comment.

Several billionaires, many of whom are among Russian President Vladimir Putin’s closest allies, have recently been included in a series of sweeping global sanctions recently imposed on Russia for its invasion of Ukraine.

This is the second time Italian authorities have seized assets belonging to the Mordashov as Italian authorities seized his $71million, 215ft yacht in early March.

Earlier this month, Insider’s Kate Duffy reported that Mordashov had transferred control of a $1.1 billion stake in a mining company to his wife, according to UK filings.

Mordashov, according to Forbes data, is the richest man in Russia. He has an estimated net worth of $29.1 billion.

On March 1, he said TASSRussian news agency that he did not understand how the sanctions imposed on him would help promote the settlement of Russia’s unprovoked attack in Ukraine.

He said: “I have absolutely nothing to do with the emergence of the current geopolitical tension and I don’t understand why the EU imposed sanctions on me.”

Another Russian oligarch who has been sanctioned is Roman Abramovich, who wants to sell his £3billion English football club, Chelsea F.C. Sanctions imposed by the British government, however, halted the sale.

A group of bipartisan lawmakers in Congress are also preparing to introduce the “Yachts for Ukraine” law, which would allow authorities to seize and sell the assets of Russian oligarchs to provide aid to Ukraine.

Share.

Comments are closed.