BERGAMO: Italian police seized a superyacht owned by Russian billionaire Andrey Igorevich Melnichenko on Saturday, only days after the tycoon was placed on an EU sanctions list following Russia’s invasion of Ukraine.

The 143-meter (470-foot) Sailing Yacht A, valued at 530 million euros ($578 million), has been impounded at Trieste’s northern port, according to the authorities.

The vessel, designed by Philippe Starck and built by Nobiskrug in Germany, is the world’s largest sailing yacht, according to the government.

Melnichenko owned EuroChem Group, a significant fertiliser firm, and SUEK, a coal company. In announcements issued on Thursday, the firms stated he had resigned as a member of the boards of both companies and had withdrawn as their beneficiary as of Wednesday.

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