A yacht worth $700 million with alleged links to Russian President Vladimir Putin has been seized as part of the European Union’s ongoing sanctions against Russia, according to a statement from Italy’s economy ministry. .
The boat – the Scheherazade, located in the Italian town of Marina di Carrara, north of Pisa – had “significant economic and commercial ties” with “prominent elements of the Russian government”, the ministry said, without specifically naming Putin in his statement. The boat is registered in the Cayman Islands.
Italian police originally boarded the superyacht – complete with two helipads, a swimming pool and a pool table designed to tilt with the swaying of the ocean – in March as part of ongoing EU sanctions against the Russia after Putin invaded Ukraine. Local Italian media had linked the boat to Eduard Khudainatov, the former chairman of Rosneft, the Russian energy giant.
Brussels is expected to announce a new round of sanctions against Moscow starting today, including sweeping bans on the country’s oil imports into the 27-nation bloc.