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EU freezes 13.8 billion euros of Russian assets

After Russia attacked Ukraine, many EU countries decided to impose sanctions on Russia. EU countries have frozen a total of 13.8 billion euros of Russian assets since the start of the war.

While the European Union (EU) member states continue to impose sanctions on Russia, European Union (EU) Commission Justice Commissioner Didier Reynders spoke to journalists about the sanctions against Russia at the informal meeting of the justice ministers of EU member states in Prague, the capital of Czech Republic.

Stating that EU member states have frozen a total of 13.8 billion euros of Russian assets since the start of Russia’s attacks on Ukraine, Reynders said, “We have frozen 13.8 billion euros worth of funds from oligarchs and other organizations for the moment, which is quite large.”

Stating that most of these asset freezes were made by 5 out of 27 EU member states, Reynards said, “However, a very large part, more than 12 billion, comes from 5 member countries.”

EU PUT 98 INSTITUTIONS AND APPROXIMATELY 1,160 PEOPLE ON THE SANCTION LIST

Calling on other EU member states to take steps towards Russian assets, Reynders said that currently 98 organizations and approximately 1,160 people, including Russian President Vladimir Putin, are on the sanctions list.

It was stated that the amount of frozen assets is a combination of cash held in bank accounts, as well as the estimated value of the yachts and properties seized. The frozen assets in question do not include the assets of 24 billion euros belonging to the Central Bank of Russia, which the EU Commission froze last May.

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