Italy's Clampdown on Russian Oligarchs' Assets Amid Ukraine Conflict
Italy has frozen assets belonging to Russian oligarchs worth about 2.3 billion euros since Russia's invasion of Ukraine. These assets include luxury items and are part of EU sanctions against Russia. The Italian government bears the maintenance costs of these assets, which have significantly increased.
Italy has taken a firm stance against Russian oligarchs by freezing their assets, estimated at 2.3 billion euros, as part of the European Union's sanctions in response to the Ukraine invasion. This includes seizing luxury items such as villas, yachts, and cars.
The Italian State Property Agency currently manages these assets, bearing considerable maintenance expenses, reportedly escalating to over 45 million euros. Despite requests, the agency has withheld specific financial details, citing 'official secrecy.'
The European Union holds the final decision on the fate of these assets. They could be permanently confiscated or returned to their original owners, depending on Brussels' future rulings and payment of incurred costs by the asset owners.
(With inputs from agencies.)
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