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Italy seizes $700 million superyacht allegedly linked to Putin.

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Italian authorities have detained the Scheherazade yacht, the owner of which they say has “significant economic and business links” to “prominent elements of the Russian government,” on May 6. The 459-feet yacht is docked at the western Italian port of Marina di Carrara. The move is part of a wider crackdown by the West on assets owned by Russian oligarchs and government officials.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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With Russia continuing to wage an unprecedented campaign against Ukrainian businesses, Ukraine’s Economy Ministry has downgraded its forecast for the country’s economic growth this year from 1.3% to 0.5%, as Moscow targets key industries such as steel production, e-commerce, and ports.

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"The threat posed by Russia and possible provocations against NATO must be taken seriously, and that is precisely what the allies are doing," Estonia's Foreign Minister Margus Tsahkna told the Kyiv Independent. "We must remain vigilant, but Estonia's threat assessment has not changed."

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