12:18 18 Feb 2023

Germany freezes over 5 billion euros of russian assets

German authorities have frozen 5.32 billion euros of russian assets since full-scale russian aggression in Ukraine.

The Federal Ministry of Finance reports this in response to Welt's request.

This amount has the assets of russian individuals and companies, included in the sanctions list of the European Union, as well as the central bank of russia. However, the office didn't reveal the details of russian oligarchs' frozen assets in Germany.

The media also points out that the Central Office for Enforcement of Sanctions (ZfS) is still under construction. As the department specified, 36 employees currently work there, but the staff is still expanding.

According to the law on the application of sanctions II, the ZfS must also maintain a register of frozen assets, which should be published on the authority's website. However, this hasn't happened yet.

"Entries can be made only if there is a secure investigation status… The technical implementation of the asset register has begun", the ministry explained.

At the same time, due to the alleged violation of the constitution and undermining of the existing legal order, the Swiss government refused to confiscate russian assets.

As Rubryka reported, Polish Prime Minister Mateusz Morawiecki, during the informal summit of the European Union in Prague, proposed to divide the frozen assets of russia between Warsaw, Kyiv, and other EU countries.

As part of the tenth sanctions package against russia for its war in Ukraine, the European Union intends to push banks to provide information about the assets of russia's central bank. The proposal includes further export bans worth more than 11 billion euros. This will make it possible to deprive the russian economy of critical technologies and industrial goods. 


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