Italy seizes €41 million in assets from Russian businessman at Ukraine's request

Italian prosecutors have seized assets worth €41 million ($44.3 million) from a Russian businessman following a request from Ukraine. 

Stay updated with the latest news by following us on X (Twitter)

The seizure was carried out by the Financial Guard of Florence, the Ansa agency reported.

The arrest of assets was executed in response to an international legal assistance request sent by Ukraine's Specialized Anti-Corruption Prosecutor's Office.

The Russian entrepreneur, whose name has not been disclosed, is under investigation in Ukraine for crimes related to official corruption, fraud against a Ukrainian state-owned agricultural products company amounting to over $60 million, and money laundering.

Florentine authorities discovered that the man had reinvested illicit proceeds into a luxurious real estate complex in Florence.

The seized assets include company shares with a nominal value of €3 million ($3.2 million) and four real estate properties valued at nearly €38 million ($41.1 million). These will be transferred to a court-appointed judicial administrator.

Read also: "Quiet joy". What is behind seizure of assets of European banks in Russia