Italy has frozen Russian oligarchs' assets worth €2.3 billion ($2.6 billion) since the 2022 Ukraine invasion, as part of European Union sanctions, with additional seizures targeting Iranian-linked companies accused of aiding Moscow.
These frozen assets—ranging from bank accounts and luxury villas to yachts and high-end cars—are part of the EU’s broader sanctions against Russia and its associates.
The Bank of Italy reported that as of June 2023, the total value of frozen Russian assets had reached €2.17 billion ($2.5 billion). Although no updated figure was provided this month, the central bank said that funds frozen due to sanctions reached nearly €280 million ($320 million) by the end of 2024, reflecting a €44 million ($50 million) increase compared to the previous year.
In a related move, Italy’s tax police seized the Milan-based Iranian company Irital Shipping Lines and two of its properties, valued at more than €1 million ($1.14 million). Authorities cited the company’s alleged military support for Russia’s war in Ukraine as the reason behind the action.
At least 54 migrants have drowned and dozens remain missing after a boat carrying around 150 people sank in bad weather off southern Yemen on Sunday, ...
The bodies of a pilot and his 13-year-old son have been recovered after their biplane crashed into the sea off the coast of Mallorca, Spanish authorit...
A top aide to President Donald Trump has accused India of helping finance Russia’s war in Ukraine through its continued oil purchases, as Washington...
President Donald Trump and Canadian Prime Minister Mark Carney are expected to speak in the coming days as Ottawa seeks to defuse tensions over a new ...
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Leaders of Türkiye, Italy and Libya met in Istanbul on Friday, pledging deeper cooperation on energy, migration and regional stability.
Three workers died on Friday after falling from a freight elevator at a construction site in the Vomero neighbourhood of Naples, Italian media reported.
Italy and Algeria agreed on Wednesday to cooperate on fighting terrorism and managing migration flows during an intergovernmental meeting in Rome, while companies signed new deals in energy and telecommunications.
Italy will add up to 15,000 new prison places and divert inmates with addiction issues to treatment centres, as the government confronts a severe overcrowding crisis and record suicide rates behind bars.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Supporters of Brazil’s former president Jair Bolsonaro gathered in São Paulo on 3 August, calling for justice reform and denouncing legal cases against the far-right leader as politically motivated.
At least 54 migrants have drowned and dozens remain missing after a boat carrying around 150 people sank in bad weather off southern Yemen on Sunday, according to health officials.
The bodies of a pilot and his 13-year-old son have been recovered after their biplane crashed into the sea off the coast of Mallorca, Spanish authorities said on Sunday.
A top aide to President Donald Trump has accused India of helping finance Russia’s war in Ukraine through its continued oil purchases, as Washington increases pressure on New Delhi with new tariffs and warnings.
President Donald Trump and Canadian Prime Minister Mark Carney are expected to speak in the coming days as Ottawa seeks to defuse tensions over a new 35% U.S. tariff on non-agreement Canadian goods.
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