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In Italy, oligarch villas must believe it too

In Italy, oligarch villas must believe it too

Italian police seized 140 million euros worth of villas and yachts. All were owned by four high-ranking Russians and were on the EU sanctions list. They ended up on that list due to Russia’s invasion of Ukraine.

According to police sources, it is a villa of businessman Alisher Usmanov on the island of Sardinia. A villa belonging to TV star Vladimir Soloviev was also seized. In Italian ports, yachts were taken from the richest Russian Alexei Mordashov and Putin’s friend Gennady Timchenko.

Since wealthy Russians have purchased a lot of villas in Italy over the past 20 years, there is a good chance that more villas will close in the future. Mordashov, for example, still has a house worth 66 million euros on the island of Sardinia. In total, Moradsov could lose about 26.5 billion euros due to sanctions, according to Forbes.

Italian banks are already receiving clear instructions to freeze funds from the oligarchy. British Prime Minister Boris Johnson is watching European sanctions and vowing that he will act faster and deal with his country’s oligarchy.

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