Almost 14 billion euros in assets of Russian oligarchs frozen in the EU
Some 13.8 billion euros in assets of Russian oligarchs have been frozen in the European Union (EU) as part of sanctions against Moscow in response to its invasion of Ukraine, Commissioner Didier Reynders announced on Tuesday. “It’s very big, but I’d say a very large part, more than 12 billion. [est gelée] by five Member States”said the Belgian Commissioner. He did not specify which countries these were. In mid-June, German Finance Minister Christian Lindner estimated the amount frozen in Germany alone at 4.48 billion euros.
In late June, a Western-allied “task force” tasked with monitoring the assets of Russian elites announced that about $30 billion (29 billion euros) in assets held by Russian oligarchs had been frozen, as well as about 300 billion from Russia’s central bank. This “working group” includes the United States, Australia, France, Canada, Germany, Japan, Italy, the United Kingdom and the European Commission.
After the invasion of Crimea in 2014, 1,158 individuals, including Russian President Vladimir Putin and his Foreign Minister Sergei Lavrov, but also members of the Duma and oligarchs Roman Abramovich, Michael Fridman or Peter Aven – and 98 companies were subject. To freeze assets and ban entry into the EU.
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