Italy seizes yachts and villas from Russian oligarchs, say state sources

A police source said a villa owned by the billionaire businessman Alisher Usmanov on Sardinia, and a villa on Lake Como owned by the Russian state TV host Vladimir Soloviev, had both been seized.

Russian oligarchs are believed to have bought numerous villas in desirable Italian locations over the past 20 years and sources said more assets were expected to be seized in the coming days as western states implement sanctions to try to force Russia to withdraw from Ukraine.

Usmanov, an Uzbekistan-born metals and telecoms tycoon, is well known in Italy for owning multiple properties on Sardinia, while Italian media say Mordashov owned a villa worth ¤66m on the same island.

Taking into account the assets of his whole family, Forbes magazine estimated that Mordashov had an estimated net worth of $29.1bn before sanctions hit.

Timchenko made a fortune in oil trading and has been described by Putin as one of his closest associates.

Soloviev reportedly complained on Russian television when he found out last month that he risked losing his Italian villa.

While the EU has moved quickly against individuals seen as close to the Russian government, Britain has moved more slowly.