Italy Has Frozen Russian Oligarchs' Assets Worth over $2.6 Billion

Representation photo: The seized yatch 'Tango', which belongs to Renova Group head Viktor Vekselberg, moors in the port of Palma de Mallorca, Spain, 04 April 2022. EPA/CATI CLADERA
Representation photo: The seized yatch 'Tango', which belongs to Renova Group head Viktor Vekselberg, moors in the port of Palma de Mallorca, Spain, 04 April 2022. EPA/CATI CLADERA
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Italy Has Frozen Russian Oligarchs' Assets Worth over $2.6 Billion

Representation photo: The seized yatch 'Tango', which belongs to Renova Group head Viktor Vekselberg, moors in the port of Palma de Mallorca, Spain, 04 April 2022. EPA/CATI CLADERA
Representation photo: The seized yatch 'Tango', which belongs to Renova Group head Viktor Vekselberg, moors in the port of Palma de Mallorca, Spain, 04 April 2022. EPA/CATI CLADERA

Italy has frozen Russian oligarchs' assets valued at around 2.3 billion euros ($2.64 billion) since the invasion of Ukraine in 2022, data provided by Italian authorities show, with the most recent seizures occurring at the beginning of the month.

Italy seized assets - including bank accounts, luxury villas, yachts and cars - as part of the European Union's sanctions against the Kremlin and its backers.

The Bank of Italy had said that at the end of June 2023 their value amounted to 2.5 billion dollars, said Reuters.

This month it did not update the total amount, but said that the funds frozen due to sanctions against Russia totaled almost 280 million euros up to December 2024 — a 44 million euro increase from the previous year.

Separately, the tax police seized in early June an Iranian company based in Milan, Irital Shipping Lines, and two of its properties worth a total of more than 1 million euros, due to "Iran's military support for Russia's war of aggression against Ukraine".

The company has not yet responded to a request for comment emailed by Reuters.

MAINTENANCE COSTS

Italy's State Property Agency holds all non-liquid assets frozen due to EU sanctions and the Italian government bears the costs of managing these assets during the freezing period.

According to the latest official data available, the costs incurred by the State for their maintenance amounted to 31.7 million euros up to February 2024.

When asked about the level of maintenance cost incurred by Italian taxpayers so far, the agency said it could not provide the information because it "is covered by official secrecy." Reuters calculation suggests that costs may have increased by around 15 million euros to more than 45 million euros to date.

The fate of these assets rests with the European Union.

If the EU decides to make the freezes permanent, the state must initiate proceedings to convert them into confiscations.

If Brussels decides to unfreeze them, the assets can be returned to their owners, provided that they pay Italy the maintenance costs incurred.

 

 



European Military Mission Set to Begin in Greenland

(FILES) Protesters attend a march to the US consulate during a demonstration, under the slogan 'Greenland belongs to the Greenlandic people', in Nuuk, Greenland, on March 15, 2025.  (Photo by Christian Klindt Soelbeck / Ritzau Scanpix / AFP)
(FILES) Protesters attend a march to the US consulate during a demonstration, under the slogan 'Greenland belongs to the Greenlandic people', in Nuuk, Greenland, on March 15, 2025. (Photo by Christian Klindt Soelbeck / Ritzau Scanpix / AFP)
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European Military Mission Set to Begin in Greenland

(FILES) Protesters attend a march to the US consulate during a demonstration, under the slogan 'Greenland belongs to the Greenlandic people', in Nuuk, Greenland, on March 15, 2025.  (Photo by Christian Klindt Soelbeck / Ritzau Scanpix / AFP)
(FILES) Protesters attend a march to the US consulate during a demonstration, under the slogan 'Greenland belongs to the Greenlandic people', in Nuuk, Greenland, on March 15, 2025. (Photo by Christian Klindt Soelbeck / Ritzau Scanpix / AFP)

European military personnel were due to begin arriving in Greenland on Thursday, shortly after a meeting between American, Danish and Greenlandic officials in Washington failed to resolve "fundamental disagreement" over the mineral-rich, strategic Arctic island.

US President Donald Trump has repeatedly vowed to take control of the autonomous Danish territory, arguing that it is vital for US security, reported AFP.

France, Sweden, Germany and Norway announced Wednesday that they would deploy military personnel as part of a reconnaissance mission to Greenland's capital Nuuk.

"Soldiers of NATO are expected to be more present in Greenland from today and in the coming days. It is expected that there will be more military flights and ships," Greenland's deputy prime minister Mute Egede told a news conference on Wednesday, adding they would be "training".

"The first French military personnel are already on their way. Others will follow," French President Emmanuel Macron said on X.

The deployment of a 13-strong Bundeswehr reconnaissance team to Nuuk from Thursday was at Denmark's invitation, the German defense ministry said, adding it would run from Thursday to Sunday.

The deployment was announced on the same day that the foreign ministers of Denmark and Greenland met with US Vice President JD Vance and Secretary of State Marco Rubio in Washington.

Danish Foreign Minister Lars Lokke Rasmussen, speaking after leaving the White House, said a US takeover of Greenland was "absolutely not necessary."

"We didn't manage to change the American position. It's clear that the president has this wish of conquering over Greenland," Lokke told reporters.

"We therefore still have a fundamental disagreement, but we also agree to disagree."

Trump, speaking after the meeting which he did not attend, for the first time sounded conciliatory on Greenland, acknowledging Denmark's interests even if he again said he was not ruling out any options.

"I have a very good relationship with Denmark, and we'll see how it all works out. I think something will work out," Trump said without explaining further.

He again said Denmark was powerless if Russia or China wanted to occupy Greenland, but added: "There's everything we can do."

Trump has appeared emboldened on Greenland after ordering a deadly January 3 attack in Venezuela that removed President Nicolas Maduro.

On the streets of Nuuk, red and white Greenlandic flags flew in shop windows, on apartment balconies, and on cars and buses, in a show of national unity this week.

Some residents described anxiety from finding themselves at the center of the geopolitical spotlight.

"It's very frightening because it's such a big thing," said Vera Stidsen, 51, a teacher in Nuuk.

"I hope that in the future we can continue to live as we have until now: in peace and without being disturbed," Stidsen told AFP.


Russia to Expel UK Diplomat Accused of Being Spy

A car of the British ambassador drives out of the embassy in Moscow, Russia [File: Evgenia Novozhenina/Reuters]
A car of the British ambassador drives out of the embassy in Moscow, Russia [File: Evgenia Novozhenina/Reuters]
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Russia to Expel UK Diplomat Accused of Being Spy

A car of the British ambassador drives out of the embassy in Moscow, Russia [File: Evgenia Novozhenina/Reuters]
A car of the British ambassador drives out of the embassy in Moscow, Russia [File: Evgenia Novozhenina/Reuters]

Russia on Thursday said it was expelling a United Kingdom diplomat whom it accused of being an undercover spy.

The Russian foreign ministry said it had summoned Britain's charge d'affaires where a "strong protest was lodged in connection with information received by the competent Russian authorities that one of the embassy's diplomatic staff belongs to the UK's intelligence services", according to AFP.

"The individual's accreditation is being revoked. He is required to leave the Russian Federation within two weeks," the ministry said.


Trump Says Iran Killings Stopped

President Donald Trump speaks in the Oval Office of the White House, Wednesday, Jan. 14, 2026, in Washington. (AP Photo/Alex Brandon)
President Donald Trump speaks in the Oval Office of the White House, Wednesday, Jan. 14, 2026, in Washington. (AP Photo/Alex Brandon)
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Trump Says Iran Killings Stopped

President Donald Trump speaks in the Oval Office of the White House, Wednesday, Jan. 14, 2026, in Washington. (AP Photo/Alex Brandon)
President Donald Trump speaks in the Oval Office of the White House, Wednesday, Jan. 14, 2026, in Washington. (AP Photo/Alex Brandon)

US President Donald Trump said Wednesday he had been told the killings of protesters in Iran had been halted, but added that he would "watch it and see" about threatened military action.

Trump had repeatedly talked in recent days about coming to the aid of the Iranian people over the crackdown on protests that rights groups say has left at least 3,428 people dead, AFP said.

But in a surprise announcement at the White House, Trump said he had now received assurances from "very important sources on the other side" that Tehran had now stopped, and that executions would not go ahead.

"They've said the killing has stopped and the executions won't take place -- there were supposed to be a lot of executions today and that the executions won't take place -- and we're going to find out," Trump said.

He offered no details and noted that the United States had yet to verify the claims.

Asked by an AFP reporter in the Oval Office if US military action was now off the table, Trump replied: "We're going to watch it and see what the process is."

Iranian Foreign Minister Abbas Araghchi later said there would be "no hanging today or tomorrow," in an interview with US network Fox News, while accusing Israel of orchestrating violence, without providing evidence.

Araghchi contends the peaceful protests about economic hardship that began December 28 devolved into widespread violence between January 7 and 10 because the protests were infiltrated by external "elements who had a plan to create a big number of killings in order to provoke President Trump to enter into this conflict and start a new war against Iran."

Iran's Minister of Justice Amin Hossein Rahimi echoed that allegation, telling state news agencies that after January 7, "those weren't protests any longer" and anyone who was arrested on the streets then "was definitely a criminal."

A rights group said separately that the execution of an Iranian man arrested during the wave of protests, 26-year-old Erfan Soltani, would not take place as scheduled on Wednesday, citing relatives.

Late Wednesday, UN leadership announced a meeting of the Security Council Thursday for "a briefing on the situation in Iran," as requested by the United States.

Trump's comments sent oil prices plunging on Thursday morning, as concerns eased of a looming supply shock in energy markets. Iran makes up around three percent of global oil production.

- 'Full control' -

Araghchi said the Iranian government was "in full control" and reported an atmosphere of "calm" after what he called three days of "terrorist operation."

Iran also struck a defiant tone about responding to any US attack, as Washington appeared to draw down staff at a base in Qatar that Tehran targeted in a strike last year.

Iran targeted the Al Udeid base in June in retaliation for US strikes on its nuclear facilities. Ali Shamkhani, a senior advisor to Supreme Leader Ali Khamenei, warned Trump the strike showed "Iran's will and capability to respond to any attack."

Fears of possible US military action continued to rile the region.

The British government said its embassy in Tehran had been "temporarily closed," India's government urged its citizens to leave the country.

Germany's Lufthansa on Wednesday said its flights would avoid Iranian and Iraqi airspace "until further notice" after the US threats against Iran.

Trump has threatened to intervene militarily in Iran several times since the protest movement that has shaken the country began in late December. The protests are the largest since the Iranian Republic was proclaimed in 1979.

Rights monitors say that under cover of a five-day internet blackout, Iranian authorities are carrying out their harshest repression in years against demonstrations openly challenging the theocratic system.

Iran's judiciary chief vowed fast-track trials for those arrested, stoking fears authorities will use capital punishment as a tool of repression.

In Tehran, authorities held a funeral for more than 100 security personnel and other "martyrs" killed in the unrest, which officials have branded "acts of terror."

- 'Unprecedented level of brutality' -

G7 nations said Wednesday they were "deeply alarmed at the high level of reported deaths and injuries" and warned of further sanctions if the crackdown continued.

Monitor NetBlocks said Iran's internet blackout had lasted 144 hours. Despite the shutdown, new videos, with locations verified by AFP, showed bodies lined up in the Kahrizak morgue south of Tehran, wrapped in black bags as distraught relatives searched for loved ones.

The US-based Institute for the Study of War said authorities were using "an unprecedented level of brutality to suppress protests," noting reports of protest activity had sharply declined.

A senior Iranian official told journalists there had been no new "riots" since Monday, distinguishing them from earlier cost-of-living protests. "Every society can expect protests, but we will not tolerate violence," he said.

Prosecutors have said some detainees will face capital charges of "waging war against God." State media reported hundreds of arrests and the detention of a foreign national for espionage, without giving details.

Iran Human Rights, based in Norway, said security forces had killed at least 3,428 protesters and arrested more than 10,000.