Italy has frozen Russian oligarchs' assets valued at around 2 billion euros ($2.5 billion) following the invasion of Ukraine last year, the country's central bank said on July 4. Italy seized assets -- including bank accounts, luxury villas, yachts and cars -- as part of the European Union's sanctions against the Kremlin and its backers. In its annual report, the Bank of Italy's anti-money laundering unit (UIF) said the 2-billion-euro figure had been updated to the end of June. UIF Director Enzo Serata added that financial holdings worth around 330 million euros, linked to 80 individuals, had been frozen as part of the sanctions regime. To read the original story by Reuters, click here.
Italy Freezes Russian Oligarchs' Assets Worth $2.5 Billion
A villa owned by Russian TV presenter Vladimir Solovyov is seen splashed with red paint after being vandalized in Pianello del Lario, near Lake Como, Italy, on April 6, 2022.