Barcolana yacht
The Barcolana yacht owned by Russian Andrey Igorevich Melnichenko, seized by Italian police in October 2022. For illustration purposes only.
  • A Dutch auction house is selling the seized yacht of a pro-Kremlin oligarch, per a Ukraine agency.
  • Ukraine said it's the first seized asset to be sold to help support the country.
  • The move is a "turning point" that could pave the way for similar efforts abroad, it said.

A Dutch auction house is gearing up to sell a yacht belonging to a pro-Russian Ukrainian oligarch, the first time a seized asset is being sold and the funds sent to Ukraine, according to Ukraine's Asset Recovery and Management Agency.