Italy has confiscated another mega-yaht the estimated cost of which is $578 million. It belongs to a Russian oligarch Andrey Melnichenko. It is one of the largest super-yahts in the world.
CNN explains the reasons for confiscation: Melnichenko fell under the EU sanctions within the frame of extended punitive measures against the Russian oligarchs.
He owns EuroChem Group, a large manufacturer of fertilizers and a coal producer SUEK. The EU document notes that Melnichenko and 36 other business-leaders met Putin after the invasion to Ukraine in order to discuss potential economic outcomes of EU and US sanctions. The fact that he was invited to this meeting shows that he belongs to Putin's close circle and supports his actions or policy.
It also shows that Melnichenko is one of the leading businessmen working in the economy sector providing significant income for the Russian government that's responsible for annexation of Crimea and destabilization in Ukraine.
