Italy seizes 30 million € property of russian oligarch who is personal friend of Putin

[MarkusS]

A close friend and judo partner of Vladimir Putin has had several upmarket villas and other real estate worth around 30 million euros (£24 million) that he owns in Italy seized by the authorities.

Arkady Rotenberg, who has regularly sparred with the Russian president on the judo mat, is one of Russia’s richest men, with an estimate fortune of $3.4 billion (£2 billion).

He was named a target of sanctions by the United States in March and the European Union in July, as part of retaliation for Moscow’s annexation of Crimea and its involvement in the war in eastern Ukraine.

Those sanctions were toughened up earlier this month and were intended to hit key business figures associated with Mr Putin.

Mr Rotenberg, 62, has said he regards the Russian president as “a person sent to our country from God”.

Italian finance police seized a wide range of property belonging to companies controlled by Mr Rotenberg, including a luxury villa in Tarquinia, north of Rome, an apartment and three upmarket villas in Sardinia and a four-star hotel in the capital.

The Berg Luxury Hotel, where rooms cost more than £400 a night, lies close to Rome’s legendary Via Veneto, the heart of the Dolce Vita lifestyle of the 1950s. The properties belonged to a Rome-based company called Aurora 31, which is controlled by Mr Rotenberg through a Cyprus-based firm.

The tycoon reacted angrily to news of the seizures on Tuesday. “I’ve already been subject to sanctions for several months and nothing surprises me any more,” he told Interfax.

“What does surprise me is that this is about some real estate which does not fall under the sanctions. Only bank accounts and assets come under the announced sanctions and I don’t have those in Italy. Once again this demonstrates the whole illegitimacy and absurdity of this situation.”

Andrei Baturin, a spokesman for Mr Rotenberg, added that “a small four-star hotel in Rome could be considered an asset” but personal real estate that had not been put up for sale and was not the subject of any kind of deal could not be considered as being covered by the sanctions.

Italy seizes £24m of real estate belonging to Vladimir Putin’s judo partner - Telegraph

I´m proud for my italian heritage!

 

[libertad]

No trial, no due process just thievery under the guise of 'sanctions'.

 

[invinciblesgunner]

He was basically robbed, what's there to be proud of?

 

[kobenhaven]

Proud of your thuggery

 

[MarkusS]

Russia is an enemy of the EU. So it is an enemy of Italy. Rotenberg is a close friend of Putin. He personal gained much money with corruptions and openly supports war against Ukraine. Putin wages war against Ukraine because Ukraine want have trade relations with us. So if Rotenberg thinks its bad that Ukraine has trade with us, he should also not own property and earn money with us. We just helped him to solve his dilemma.

 

[Götterdämmerung]

Great, now we openly rob people out. Well, rich Russians or anyone from a country that is not a vassal of the US might have to think twice before he/she transfer money or assets to the EU. If you are not stupid, they should not put money into EUSA banks at all.

Well done Brussel, that's the best advertisement for rich people investing money into the EU.

 

[libertad]

Great, now we openly rob people out. Well, rich Russians or anyone from a country that is not a vassal of the US might have to think twice before he/she transfer money or assets to the EU. If you are not stupid, they should not put money into EUSA banks at all.

Well done Brussel, that's the best advertisement for rich people investing money into the EU.

True, the consequences of this action will cost them more than what they gained. They are basically telling wealthy Russians and other nationalities not to invest in Italy because the government can just seize your property under the guise of sanctions.

 

[Götterdämmerung]

True, the consequences of this action will cost them more than what they gained. They are basically telling wealthy Russians and other nationalities not to invest in Italy because the government can just seize your property under the guise of sanctions.

It's not just Italy being affected, it's the whole EU including Germany although we have not seized any money yet. But the warning is there that your money and porperty is not safe here, if your government happens to be at odd with the EUSA.

Some people are simply too stupid to see the long-term consequence.

 

[MarkusS]

There is no need to have business with criminals. We also seize Kim Jong Un. So what?

What was sized? Luxury houses and hotels at prime areas of rome. Why did he own those hotels there? Because Rome is a top destination. Rome does not need putins cockroaches.

 

[zzzz]

Nice to see how thugs and criminals in EU ruin their own economy.

 

[MarkusS]

Nice to see how thugs and criminals in EU ruin their own economy.

getting 30 million for free ?

 

[Götterdämmerung]

Robbing 30 million to miss the opportunity to get billions in future investments. Sounds smart to me.

Not only that, we will see people pulling money out of the EU – billions of it.

 

[libertad]

getting 30 million for free ?

That's not even enough to pay for Berlusconi's concubines.

 

[Penguin]

No trial, no due process just thievery under the guise of 'sanctions'.

You are suggesting permanence. Is that actually the case?
IIRC there are different legal terms for that: "confiscation" or "forfeiture"

Compare e.g.:

Article 1 (g) of the Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and the Financing of Terrorism of the Council of Europe1*) defines «freezing» or «seizure» as temporarily prohibiting the transfer, destruction, conversion, disposition or movement of property or temporarily assuming custody or control of property on the basis of an order issued by a court or other competent authority.

Memoire Online - The regime of freezing and seizure of assets in criminal proceedings and their compatibility with recognized international human rights - Christian Tshimbalanga Mwata

Read also treaty wording here

4. If proceeds of crime have been intermingled with property acquired from legitimate sources, such property shall, without prejudice to any powers relating to freezing or seizure, be liable to confiscation up to the assessed value of the intermingled proceeds.

wetten.nl - Wet- en regelgeving - Verdrag van de Verenigde Naties tegen grensoverschrijdende georganiseerde misdaad, New York, 15-11-2000 - BWBV0001668

 

[Penguin]

Following warnings from US and European nations over economic (and travel) sanctions against Russia, the upper house of Russia's parliament has struck back. As RIA reports, Russia is mulling measures allowing property and assets of European and US companies to be confiscated in the event of sanctions being adopted. Layers are studying the costitutionality of the 'confiscation' but cite Europe's standards (i.e. Cyprus) as precedent. This is further to the threat to "dump US goverment bonds" issued earlier in the week.

Russia Proposes Confiscating US, European Assets If Sanctions Adopted | Zero Hedge

Just so you know both sides play this game.