Moscow Invades Ukraine, Italy Confiscates Luxury Villas And Russian Oligarchic Superyachts Worth IDR 2.2 Trillion

JAKARTA - Italian authorities have confiscated luxury villas and superyachts belonging to Russian oligarchs because the owners of these villas and superyachts are on the European Union sanctions list.

On Friday last week, Italian Foreign Minister Luigi Di Maio announced plans to start seizing property from those deemed close to Russian President Vladimir Putin.

"We have to be able to stop Putin's attacks, bring him to the table and he won't leave with pleasantries", he told Italian state TV, citing Euronews March 13.

Italy's financial police moved quickly and since Friday, have confiscated property worth 143 million euros from five Russian oligarchs.

Among the properties seized, included luxury villas located in some of Pizza Land's most beautiful destinations, such as Tuscany and the island of Sardinia.

A Lake Como house belonging to Moscow TV presenter Vladimir Soloviev was among those seized, as well as a Sardinian villa belonging to Alisher Usmanov, both on the EU sanctions list.

Together, the combined value of the two properties is said to reach 25 million euros.

Two cruise ships were also seized in the northern Italian port, including the 65-meter long superyacht 'Lady M', which is estimated to be worth around 65 million euros.

After Russia invaded Ukraine on February 24, the European Union began imposing sanctions on Russian oligarchs, freezing their assets and barring them from entering the bloc.

Italy is now urging other countries to move quickly in their assets, with Prime Minister Mario Draghi saying they must follow Italy's lead.

"I would really like to see similar action taken by all of our countries", PM Draghi said at a joint news conference with European Commission President Ursula von der Leyen.

"Now we have to be fast in this implementation", said PM PM Draghi.

He added that Italy, France, and Germany had implemented sanctions quickly, but "other (countries) were less so."

French authorities also seized a superyacht in the port of La Ciotat last week, where officials said they were preparing for an urgent departure.

The superyacht belongs to Igor Sechin, CEO of Russian oil company Rosneft and one of the oligarchs listed under the EU sanctions announced on February 28.

"Thanks to French customs officials who imposed EU sanctions on those close to the Russian government", Economy Minister Bruno Le Maire said in a Twitter post.

Separately, Germany's Economy Ministry also said it was in the process of implementing sanctions quickly and effectively, but had not publicly disclosed if any assets were seized.