Saturday, December 3, 2022

Politico: EU freezes 68 billion euros in Russian assets

by The Kyiv Independent news deskNovember 18, 2022 4:14 pm

According to an internal European Commission document obtained by the media outlet Politico, the European Union has frozen 68 billion euros in Russian assets.

Most of the assets are in Belgium, which accounts for 50 billion euros out of the total figure. Luxembourg ranks second with 5.5 billion euros. Together with Italy, Germany, Ireland, Austria, and France, they constitute over 90% of frozen Russian assets in the EU, according to Politico.

Regarding Russia’s national reserves arrested in the EU, the Commission doesn’t indicate their exact value in the document but gives the approximate figure of 33.8 billion euros, Politico wrote.

The document also indicates that the European Council is supposed to soon approve a decision to criminalize sanctions evasion, according to the report.

On Nov. 10, the U.K. government reported it had frozen assets owned by Russian oligarchs, other individuals, and entities sanctioned for Moscow’s full-scale invasion of Ukraine, which together account for $20.5 billion.

The Kyiv Independent news desk
The Kyiv Independent news desk

We are here to make sure our readers get quick, essential updates about the events in Ukraine.

Independent journalism
for an independent Ukraine
Independence is an expensive currency. Both Ukraine and its journalists are paying a high price to preserve its independence. Support Ukraine's trusted journalism in its darkest hour.