Italy seizes Russian oligarch assets valued at €2 billion under EU sanctions

Italy's financial police reported that, since the start of Russia's invasion of Ukraine in February 2022, they have confiscated assets belonging to Russian oligarchs worth roughly €2 billion. The seized property includes luxury real estate, yachts, automobiles, artworks and stakes in companies, and is part of the European Union’s sanction regime against Russian business and political elites.

In the same reporting period, the police uncovered fraud involving European and national funds exceeding €1.6 billion and seized assets worth €4.7 billion suspected of being acquired through tax evasion and other illegal activities. The investigations identified 8,297 individuals who evaded taxes, uncovered 47,419 cases of illegal employment, and forwarded 20,429 people to prosecutors for tax‑related crimes.