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Yacht maker Sanlorenzo says none of its Russian clients subject to sanctions

By Reuters

MILAN – Italian yacht maker Sanlorenzo on Friday said none of its Russian clients were subject to the sanctions that hit Moscow after last month’s invasion of Ukraine.

It added that orders by customers of Russian nationality represented less than 10% of its backlog, spread over three financial years. The backlog was worth just over one billion euros ($1.09 billion) at the end of January.

The company said that the payments of its Russian customers were regular and that no order had been cancelled so far, adding it was constantly monitoring the situation and all updates regarding international sanctions.

($1 = 0.9164 euros)