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.
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European leaders have set out plans for a coordinated defensive mission to restore freedom of navigation in the Strait of Hormuz, once security conditions allow, following talks involving more than 40 countries.
Germany’s opposition party, The Left, on Thursday accused Chancellor Friedrich Merz’s government of fuelling the war in Iran by exporting arms to Israel, as new figures revealed millions of euros in approved military sales.
Italy has suspended a long-standing defence cooperation agreement with Israel, marking a sharp shift in relations as tensions in the Middle East escalate.
Italian Prime Minister Giorgia Meloni said on Thursday (9 April) that restoring freedom of navigation in the Strait of Hormuz is a vital interest for both Italy and the European Union, pledging coordination with international partners to ensure safe passage.
A report published by Minval Politika has raised new questions over alleged efforts by Luis Moreno Ocampo to shape international pressure against Azerbaijan and influence political dynamics around Armenia.
Iran’s Supreme Leader Mojtaba Khamenei warned “foreigners who commit evil” have no place in the Gulf, outlining a “new phase” for the Strait of Hormuz, while a senior adviser said U.S. blockade efforts would fail and could trigger confrontation.
Shares in Meta Platforms fell sharply in extended trading on Wednesday after the tech giant raised its annual capital spending forecast by billions of dollars.
Minval Politika has released further footage it says shows former International Criminal Court Chief Prosecutor Luis Moreno Ocampo discussing alleged funding behind campaigns linked to Armenia and Azerbaijan.
U.S. President Donald Trump told reporters he was "not satisfied" with Iran's latest peace proposal, which was delivered to Washington via Pakistani mediators on Friday (1 May).
A 45-year-old man has been charged with attempting to kill two Jewish men in London on Wednesday (29 April).
At a moment when the trade relationship between the world’s two largest economies remains deeply strained, senior officials from Beijing and Washington have resumed direct talks.
Hundreds of protesters and emergency services clashed in a remote Northern Territory town overnight following the arrest of a man suspected of abducting and murdering a five-year-old Indigenous girl, police confirmed on Friday.
A fresh Ukrainian drone strike on Russia’s vital Black Sea port of Tuapse has sparked a massive fire at the sea terminal, local officials confirmed early on Friday.
U.S. passenger air services to Venezuela resumed on Thursday (30 April), as an American Airlines flight landed in Caracas, restoring a commercial link between the two countries after seven years.
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