Russian oligarch yachts, luxury coastal properties seized by Italy: PHOTOS
The seizure of assets comes after a Russian businessman offered a $1 million bounty for Vladimir Putin's arrest
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European powers are banding together to seize the financial assets of Russian President Vladimir Putin's most trusted allies.
Since Friday, Italy has gained control of $156 million in yachts and villas from Russian oligarchs to pressure the Russian president to pull out of Ukraine after invading and waging war against the country Feb. 24.
Italy has targeted Gennady Timchenko's superyacht "Lena" and Alexei Mordashov's yacht "Lady M," which is estimated to be worth $71 million. Villas in Tuscany and Como have also been seized.
"Lena" yacht
A picture taken March 5, 2022, shows a view of the yacht "Lena" belonging to Gennady Timchenko, an oligarch close to Russian President Vladimir Putin, in the port of San Remo, Italy. | Getty Images
"Lady M" yacht
A view of the yacht "Lady M" owned by Russian oligarch Alexei Mordashov is docked at Imperia Harbor, Italy, Saturday, March 5, 2022. | AP Newsroom
A villa owned by Russian-Uzbek business magnate Alisher Usmanov was reportedly seized in Northern Sardinia, but German officials denied those reports. Usmanov also reportedly owns Beechwood House in Highgate, London, worth an estimated 48 million pounds ($63.5 million), and the Sutton Place estate in Surrey.
The French have seized the yacht of Igor Sechin, who runs Russian energy company Rosneft.
"Amore Vero" yacht
This photo provided March 3, 2022, by French Customs shows the yacht Amore Vero docked in the Mediterranean resort of La Ciotat. French authorities seized the yacht linked to Igor Sechin, a Putin ally who runs the Russian oil giant Rosneft. (Douane Francaise via AP / AP Newsroom)
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The Italian government intends to send a firm message by seizing the valuables of Russian oligarchs.
William Browder, CEO and co-founder of Hermitage Capital Management, which was once the largest foreign portfolio investor in Russia, said Putin keeps all of his money with the oligarchs.
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In the U.K., Prime Minister Boris Johnson faces criticism for his lack of urgency to sanction the U.K.'s list of oligarchs.
Earlier this week, Chelsea Football Club owner and Putin companion Roman Abramovich said he plans to put the soccer team up for sale.
The Associated Press contributed to this report.