Italy blocks luxury yacht sales to N Korea

North Korea has been blocked from purchasing two luxury yachts from Italy due to fears that they were intended for leader Kim Jong II, according to a newspaper report.

The Financial Times (FT) discovered that the European nation had refused to allow the sale so as not to risk breaking international sanctions against Pyongyang.

A pair of luxury vessels, which are believed to be worth more than 12 million euros, have been confiscated by Italian officials and the deposit has been returned to their makers Azimut-Benetti, according to FT.

The company said that it had "found that behind this apparently regular operation the purchasers were actually attempting to violate the international embargo on North Korea, the true final destination of the two boats," reports the newspaper.

For those who wish to experience luxury yachts in person, the Abu Dhabi Yacht Show, which will showcase ships of more than 25 metres in length, is due for its second annual event in 2010.