Italy Arrests 'Scheherazade' Yacht Linked to Putin

Italian authorities have seized the luxury yacht 'Scheherazade' on May 6, which, according to opposition figure Alexei Navalny's associates, is effectively owned by Russian President Vladimir Putin. Reports dw.com.

The yacht was arrested at the Marina di Carrara port. The Italian Ministry of Economy and Finance did not disclose the actual owner of the yacht. Authorities only claimed that an investigation carried out by the Italian financial police revealed that the yacht had "significant economic and practical ties" to senior officials of the Russian government and individuals under EU sanctions.

'Scheherazade' is registered in the Cayman Islands and is owned by the offshore company Bielor Asset Limited, of which the beneficiary is unknown. According to SuperYachtFan, the yacht is estimated to be worth $700 million.