Italy seizes Russian billionaire Melnichenko's mega yacht

TRIESTE, ITALY - MARCH 11: Italian prime minister's office said in a statement on Saturday (Mar. 12) that financial police Guardia di Finanza has seized a superyacht belonging to Russian billionaire Andrey Igorevich Melnichenko, after he was placed on an EU sanctions list following Russia's attacks on Ukraine.Melnichenko owns major fertilizer producer EuroChem Group and coal company SUEK.The 143-meter (470-foot) “Sailing Yacht A”, which has a price tag of 530 million euros ($578 million), has been docked at the northern port of Trieste, the statement said.The ship which was built as project 787 ‘White Pearl’ by Nobiskrug was delivered to Melnichenko in 2017.The Sailing Yacht, the largest in the World, is designed by Philippe Starck and is powered by a hybrid diesel-electric package with controllable pitch propellers.Italian police also confiscated villas and yachts worth 143 million euros ($156 million) belonging to five high-profile Russians who are on the sanctions list(Footage by Guardia di Finanza/Anadolu Agency via Getty Images)