Authorities want to confiscate 720 million euros from Russian bank
According to the information provided, the Federal Public Prosecutor's Office applied to the Frankfurt am Main Higher Regional Court to open the proceedings on July 7. Accordingly, the Russian bank was placed on the European Union's sanctions list in June 2022. This is associated with a ban on holding assets at European financial and credit institutions.
Shortly after being added to the list, managers at the Russian bank attempted to withdraw the more than 720 million euros from Frankfurt. However, the bank there did not execute the electronic transfer order. The independent confiscation proceedings had been applied for because no specific person could currently be prosecuted or convicted for the offense.
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Source: www.stern.de
