Italy seizes $116 million building from Russia's richest man

Italy seized a large building complex from the richest man in Russia on Friday as the West continues to penalize oligarchs for their reported ties to Russian President Vladimir Putin amid the invasion of Ukraine.

The $116.2 million complex, owned by sanctioned Russian oligarch Alexei Mordashov, was located in Portisco on Sardinia’s Emerald Coast, per the Wall Street Journal. Mordashov, who is considered the richest man in Russia by some estimates, had his $72 million yacht Lady M snatched by Italian officials earlier this month.