Repubblica: Maintenance of Russian property frozen in Italy will cost Rome €14 million

The maintenance in Italy of the frozen property, allegedly belonging to the Russians included in the EU sanctions lists, will cost 13.7 million euros by the end of the year, La Repubblica said.

Report informs citing TASS that the government intends to make up for these costs by collecting compensation from the owners when the sanctions are lifted, as well as by selling this property. In the forthcoming amendments to the government decree on cost reduction regarding the obligations to ensure property safety, the wording has been changed from taking "all necessary actions" to only "necessary and minimal to avoid damage."

According to La Repubblica, the total amount of property frozen in Italy - villas, and yachts - reaches 2 billion euros. It is required to pay for the maintenance of yachts in ports, charter, and ensure security.

A special rule may provide for the possibility of selling property by the state administration for the disposal of property, which is responsible for its safety. Once the sanctions are lifted, owners are given 180 days to collect their property, while the state can demand compensation for expenses. After this period, the state will be able to sell the entire objects or individual items from them, for example, works of art located on yachts and villas. If the yachts cannot be sold, they can be transferred to the fleet of Italian services.