The Italian authorities announced the arrest of the yacht of one of the owners of Severstal and the largest shareholder of the TUI Group, Alexei Mordashov. A yacht called Lady M with a length of 65 m and a cost of 65 million euros stood in the port of the city of Imperia. At the same time, the yacht Lena, owned by the owner of the Volga Group, Gennady Timchenko, was confiscated in San Remo.
In total, Italy plans to seize the assets of Russian oligarchs who fell under European sanctions in the amount of 140 million euros.
However, only one of the yachts of the TUI Group shareholder was confiscated. The new 142-meter superyacht Nord worth $500 million, built last year, according to foreign media, is now in the Seychelles. According to Forbes, the vessel is one of the five largest yachts of Russian oligarchs.
The arrest of businessmen’s yachts was the result of personal sanctions imposed by the European Union on several dozen Russian businessmen and officials. The measures include freezing the funds and property of sanctioned Russian citizens abroad.
The largest shareholder of the German travel company TUI Group, Alexey Mordashov, was included in the EU sanctions list because of the events in Ukraine on February 28. The Russian oligarch, as reported by the German edition of FVW, lost the right to dispose of his part of the shares (34%) of the tour operator and left his supervisory board.