German authorities have frozen Russian assets valued at 3.95 billion euros.
In Germany, Russian assets valued at 3.95 billion euros are currently being held. The information was shared by the Federal Ministry of Finance in response to an inquiry from FDP finance politician Markus Herbrand. The Reuters news agency received this update on Wednesday.
This sum may fluctuate due to valuation changes. It comprises funds and other resources of individuals and businesses subject to sanctions after Russia's aggression against Ukraine more than two years ago. Assets held by the Russian central bank are also included. The letter dated May 10 lacks a detailed breakdown since the information is classified as confidential. Previously in March 2023, the Finance Ministry mentioned assets worth 5.25 billion euros that were either blocked or subject to a financial transaction ban.
Politician Herbrand viewed these latest figures as an achievement. "These numbers clearly demonstrate that sanctioned assets can be seized in our country at any time," he said. This concerns money belonging to oligarchs and other supporters of Russian President Vladimir Putin. The European Union also intends to use the interest earned on these assets to help Ukraine.
Finance Minister Christian Lindner is planning to establish a new agency to more effectively impose sanctions and fight money laundering - the Federal Office for Combating Financial Crime (BBF). However, negotiations within the traffic light coalition have been stalled for months. "Any delay in relevant coalition discussions only provides more time for Russian money launderers to safeguard their assets," cautioned Herbrand.
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The 3.95 billion euros in Russian assets mentioned by the Federal Ministry of Finance is a significant portion of the total sanctions-related assets in Germany. This amount, which includes funds and resources of individuals and businesses, is being held by German authorities. The freeze on these Russian assets is part of the sanctions imposed following Russia's aggression against Ukraine.
Source: www.ntv.de
