Italy freezes property of Russian individuals, legal entities for 1.7B euros

After the introduction of anti-Russian sanctions, a division of the Italian Ministry of Finance - the Financial Guard froze property associated with Russia for 1.7 billion euros, Report informs referring to foreign media.

The freezing of assets occurred as a result of checking over 1,100 Russian legal entities and individuals involved in the events in Ukraine.

Financial checks against Russian citizens and companies in Italy began on February 23, after the imposition of sanctions due to Russia’s recognition of the “DNR” and “LNR.”

The most resonant precedents for the blocking of Russian assets in Italy were the arrest of the yacht “A” of the Russian entrepreneur Andrey Melnichenko worth 530 million euros and the freezing of the real estate share of Alfa Bank shareholder Petr Aven worth 4 million euros.