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Czech Republic freezes around €350M of sanctioned Russian assets

by Daria Bevziuk August 16, 2023 4:00 AM 1 min read
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The Czech Republic froze €347.36 million of Russian sanctioned assets, the Czech Ambassador to Ukraine Radek Matula announced on Aug. 15 during a meeting with the head of Ukraine's Agency for Search and Asset Management (ARMA).

The two parties discussed future prospects for mutual cooperation, particularly concerning enhanced collaboration between ARMA and Czech counterparts in asset detection, search, and management.

Matula highlighted that Czech law enforcement agencies are actively monitoring information about sanctioned Russians and reaffirmed Prague’s support for Ukrainian EU and NATO integration.

ARMA is responsible for identifying, tracing, and managing assets that are subject to criminal proceedings to ensure they are efficiently utilized and safeguarded. Its two primary goals include preventing illicit gains and supporting legal proceedings.

Throughout this past year the Court managed to confiscate 277 vehicles, 136 properties, 42 packages of corporate rights, and 537 works of art. Following this confiscation, a transfer of 25.8 billion UAH (around $700,000) was made to the Fund for Addressing the Consequences of Russian Armed Aggression.

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