The total value of Russian property frozen in Italy has reached almost €2 billion. In 2022, the authorities will spend almost €14 million on its maintenance and protection against vandalism
In 2022, the Italian government will spend €13.7 million for the maintenance of Russian property frozen in the country, reports La Repubblica.
We are talking about villas and yachts that were arrested in connection with EU sanctions imposed due to the Russian military operation in Ukraine. The newspaper estimates that the total value of this property is almost €2 billion.
According to the newspaper, the government is trying to reduce the cost of maintaining property. The Cabinet is preparing amendments to the relevant bill, according to which the authorities will have to take “minimal and urgent” actions to ensure its safety, for example, protection against vandalism. The original text said that “all necessary actions” are needed.
In addition, Rome expects that at the end of the sanctions, the owners of the property, who want to return it, will reimburse the Italian authorities for the costs of maintenance. La Repubblica notes that if the owners do not take it within 180 days, the authorities will have the right to sell the objects— entirely or its “separate items” that are in frozen villas and yachts.
Italy since March began to report the freezing of the assets of Russians and the arrest of their property. In the middle of the month, authorities seized Sailing Yacht A worth €530 million. La Repubblica and Corriere della Sera reported that it belonged to Russian businessman Andrey Melnichenko. Then they seized real estate in Sardinia, the owner of which the Italian government considers the main owner and chairman of the board of directors of Severstal; Alexey Mordashov. In addition, the authorities seized the yacht Lady M, which, according to La Repubblica, also belongs to Mordashov.
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On May 7, the Italian Ministry of Economic Development announced the arrest of the Scheherazade superyacht; according to the authorities, the owner of the vessel has a “significant economic and business relationship”; with «prominent representatives» Government of Russia.
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