A Russian-owned superyacht valued at £443m has been confiscated by Italian police in the port of Trieste as part of a global crackdown on wealthy oligarchs.

The Sy A yacht is owned by billionaire Andrey Melnichenko, 50, who made a fortune in fertiliser production and coal.

The vessel was seized on Friday evening.

Designed by Philippe Starck and built by Nobiskrug in Germany, the vessel is the world’s biggest sailing yacht at 143m in length.

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Footage shows police cars approaching the triple-masted yacht and officers boarding it.

Italian authorities last week seized £120m in luxury yachts and villas belonging to Russian billionaires in picturesque retreats such as Sardinia, the Ligurian coast and Lake Como as part of sanctions against oligarchs linked to Vladimir Putin.

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It comes after Roman Abramovich was sanctioned by the UK government.

The Chelsea Football Club owner is one of seven more Russian oligarchs who have had sanctions placed on them by ministers in response to Russia’s invasion of Ukraine.

A government document announcing the move said that Mr Abramovich has had a “close relationship for decades” with Mr Putin.

The UK is the first nation to sanction Mr Abramovich, who has been described by the government as a “pro-Kremlin oligarch”.

The government has now sanctioned more than 200 individuals and entities.

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