Italy Unveils Amount of Seized Assets of Russian Oligarchs.

The Italian authorities have blocked the bank accounts, villas, yachts, and cars of Russian oligarchs amounting to approximately 2.3 billion euros following Russia's invasion of Ukraine in 2022. This took place as part of the European Union sanctions against the Kremlin and its accomplices, documented in the summer of 2022.

In June 2023, assets of Russian oligarchs amounting to 2.5 billion dollars were seized and blocked by the Bank of Italy. The value of frozen assets has increased to 280 million euros, which is 44 million euros more than a year ago. The Italian tax police also seized property of the Iranian company Irital Shipping Lines amounting to over 1 million euros due to its support of the Iranian government in Russia's aggressive war against Ukraine.

Seized Assets and Further Actions by Italy

The Italian Agency of State Property is responsible for managing all frozen assets due to EU sanctions. The state has already spent over 31.7 million euros to maintain these assets until February 2024. The future fate of the frozen assets will be decided by the European Union, which may confiscate or unfreeze them, taking into account the costs incurred by Italy.

Italy remains committed to EU sanctions and joins international efforts in support of Ukraine against Russia's aggression.

Ukraine continues to receive support from the global community in its confrontation with Kremlin aggression.