Europe freezes € 13.8 billion worth of Russian assets-Baltic News Network

Since Russia’s invasion of Ukraine began, the European Union has frozen € 13.8 million worth of Russian assets, as announced by the European Commission’s Judiciary Committee on Tuesday, July 12.

In Prague, the Commissioner reported, “So far, we have frozen € 13.8 billion worth of money from oligarchs and other organizations, which is very large.”

At the same time, he said, most of this amount (more than € 12 billion) consists of assets frozen by five member states. He didn’t say either.

Reynders said it hopes other EU member states will start working on Russia’s assets soon.

Germany’s finance minister, Christian Lindner, said he had frozen € 4.48 billion worth of Russian assets by mid-June.

At the end of June, the Russian elite, proxy, Oligarch (REPO) Task Force blocked more than US $ 30 billion of assets owned by Russian oligarchs and officials, as well as US $ 300 billion owned by the Central Bank of Russia. I reported.

REPO was established on March 17, three weeks after Russia began invading Ukraine to increase economic pressure on Moscow. This group includes senior officials from the United States, Australia, France, Canada, Germany, Japan, Italy, the United Kingdom, and the European Commission.

So far, the EU has applied six sanctions packages to Russia. These sanctions extend to 98 companies and 1158 civilians, including Russian President Vladimir Putin and Russian Foreign Minister Sergey Lavrov. Their assets in the EU have been frozen and entry into the EU is banned.

Read again: European Union strengthens anti-Russian sanctions Europe freezes € 13.8 billion worth of Russian assets-Baltic News Network

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