Russian seized assets a headache for Italian authorities • FRANCE 24 English
[Music] Imperia a port in Northern Italy hundreds of boats are mored here but only one has been officially restricted from leaving the port the luxury yacht Lady M its presumed owner Alexi mov is one of the richest men of the Russian Federation since March 22 the yacht is part of the assets that have been frozen by the Italian state in accordance with the EU sanctions on Russia after the invasion of Ukraine the Lady M has been coming to our marine for years it’s one of the biggest Yachts here it’s 63 M long and worth 65 million but as a frozen asset its management falls upon the Italian State and consequently the Ministry of Finance has to pay all the maintenance costs including the port fees the moing fee for this ship is about €1,000 per month in Winter and 13,000 in summer then there’s the electricity that’s supplied by the port on average we’re talking about €10,000 per month for electricity and water added to which are the costs of insurance crew Fuel and maintenance the motors have to be checked every year for a yacht of this type just the standard maintenance can be more than 50,000 a year over the last two years the Italian state has spent nearly 32 million managing Frozen Russian assets Italy would like to officially confiscate them in order to resell them but they Remain the property of their original owners the lawyer Andre saki represents a Russian oligarch with frozen assets we’re talking about a temporary freeze these assets have not been confiscated seizing them permanently would be problematic because that would go against an individual’s fundamental rights one of which is the right of ownership the state cannot appropriate private property arbitarily there are currently seven Yachts belonging to Russian oligarchs immobilized in Italian ports the Kremlin has threatened legal action against any attempt at seizure of these Assets in Italy or elsewhere in [Music] Europe time
Huge yachts, private planes, luxury villas and flashy cars. All belonging to Russian oligarchs whose assets in Italy have been frozen since the invasion of Ukraine two years ago, and, according to data collected by the European commission, this amounts to 2.3 billion euros. But this is turning out to be extremely costly for the Italian state. Our correspondent in Italy tells us more
#Ukraine #Russia #Italy
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45 comments
Italy's governmental bureaucracy and corruption likely wastes more money in a single day than the stated costs of maintenance that they have having a cry about for this boat. Slow news day
Rent it out, problem solved.
Sell the yachts
These are private properties
Putin is smart, the money will stay in Russia.
Can the Italian government seize my property as well, I live in the US 😂
for those who want's to "sell" it. no one would buy stolen goods
Buying property in Europe is risky this days just look at Ebrahimovic
We (the people, 87% of the Global population, if you don't mind) from the Global South respect Putin. The oligarchy in the US congress is more corrupt and criminal in its dealings than Ukraine, the best money laundering machine ever invented.
Can they seize my house please? I got all kind of stuff they can fix for me.
This is one of the dumbest stories of I ever seen in my life.
How humiliating .. they team up for unnecessary war and losses miserably
How are the other nato/eu impounders coping????
Thiefs🤣
Why invest in italy if your gov could be sanctioned. So forget about chinese investment for the future
Europeans are the most foolish people on earth. seizing a liability and then fund the maintenance
Perhaps they should return the stolen property.
Money is paid by happy EU taxpayers who are maintaining in good shape illegal seized assets. The funds will be transferred to the the Italian government as latter is applying sanctions as deliberately imposed by the EU parliament.
One other victory of the Russian Federation over the boneless EU puppets
What about American oligarch😂😂
In Spain the Russians oligarchs have they Realstate.👍
Hey, hands off. Ill be taking these confiscated assets. Ill be using this for my endeavors and tasks. Some of these would be delivered to Russia and some would be delivered to Mainland Japan.
Smart…….
Now, no Russian or Chinese businessman will buy or put assets in NATO country.
Why or how can NATO seized assets belonging to Russian or Chinese individuals ?
How are they related to the war ?
Haha so. by freezing them are they forced then to have to dock them for free? 😂Saving 13,000 a month- nice!
I do t wish to be a Italian tax payer-to pay for all this stupid things and the oligarchs happy now there is someone paying all things for them. Later they will sue Italian government because his yacht is not in proper order and devalue for past few years. They will make another money after from Italian government. 😂😂😂😂😂
You can’t mate. Don’t you hear what that lawyer say : it’s private property and you can’t take it 😂😂😂😂😂
These Russian oligarchs once thought their assests are save in the West. Now they are transferring them back to Russia for safer keeping. LMFAO.
lol so sanctions are costing the EU to lose money? 😂 😂
US authorized then to seize those assets and so the US has pay for the charges.
You do not have to obey the USA.
Ukraine war is not bad business for the West. They earn by seizing Russian assets, weapons, expensive oils and ammunition. They can test the capability of their weapons.
I remember when personal property of certain people in Germany was seized in 1940's .,
It is not clear when and under which circumstances the personal property of Russian citizens will be released , or why it was seized in the first place.
Of course , the word " temporary" does not include the time frame, is it a month, year, decade, a lifetime, or several generations have to pass before the property is returned.
Meanwhile the Russian tycoons are making more billions…after
So they stealing 😂 because of Ukraine?
As a Russian citizen i can tell you that oligarchs are putin's wallet, and all money that they "have earn" is stolen from us, russian people. So, we easily allow Italian authority to sold all mega super yachts and at least help children and civilians in Ukraine or Ukrainians in Italy🇮🇹.
Just sell the yachts?
Oligarchs are investors . Public investors.
🤣 nice Russian oligarchs must be really happy that their yachts are being maintained and crews are getting salary with them having to pay for it. Good on Italy for supporting and helping.
😂😂😂
Stealing is bad. The West is no good for stealing 😊
This is the funniest thing ever, they basically stole a yatcht and realized damn its actually eating from their poeckets, imagine that
Its real owner was like…. thanks for maintaining my yatch for free. 😂
European politicians thinking is absurd
now pay that maintenance😂😂😂
😂😂😂😂 you call the tune you pay the piper
Italy should stop obeying to the american nonsense and stop the foolish sanctions regime.Isn't Meloni elected promising independence and serving the italian national interests?She should stop being a fake and serve her people's interests.
Italy's master USA said "seize", and Italy seized. Now have no idea what to do. Clowns