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The Bank of Italy has frozen assets of Russian oligarchs worth around 2 billion euros following last year’s invasion of Ukraine. These assets, which include bank accounts, luxury villas, yachts and high-end cars, were seized as part of the European Union’s sanctions against the Kremlin and its backers.
In its annual report, Bank of Italy’s Financial Intelligence Unit (FIU) said the €2bn figure was updated at the end of June. The Director of the FIU, Enzo Serata, also added that financial assets worth around 330 million euros, linked to 80 individuals, have been frozen as part of the sanctions regime.