Italian authorities have seized a super yacht owned by a Russian billionaire placed on an EU sanctions list following Russia’s invasion of Ukraine.
The ship, Sailing Yacht A, belongs to Russian billionaire Andrei Igorevich Melnichenko, who owned major fertilizer producer EuroChem Group and coal company SUEK.
The companies said in statements that he had resigned as a member of the boards of both companies and withdrawn as their beneficiary.
The vessel, estimated to be worth around $578 million, is the world's biggest sailing yacht, the Italian government said.
Officials from the Italian financial police seized it on March 11, the ANSA news agency reported.
Last week, Italian police seized villas and yachts worth $156 million from five high-profile Russians who have been placed on the EU sanctions list.