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US, international partners freeze more than $58 billion worth of Russian assets

by The Kyiv Independent news desk March 10, 2023 4:31 AM 1 min read
This audio is created with AI assistance

The Russian Elites, Proxies, and Oligarchs (REPO) multilateral task force announced on March 9 that it has frozen over $58 billion of Russian assets since Feb. 24.

Members of the task force include Italy, Australia, Canada, France, Germany, Japan, the U.K., the U.S., and the European Commission.

They also promised to “redouble” their efforts to hold Russia accountable for its war against Ukraine and resist Russian efforts to evade sanctions.

“As Russia’s war of aggression continues, REPO members remain determined in their commitment to impose steep costs on Russia,” the joint statement read.

“REPO will continue to identify, locate, and freeze the assets of sanctioned Russians, with the aim of depriving the Kremlin of the funds it needs to fight its illegal war.”

WSJ: Russia's budget deficit widens after Western sanctions nearly halve oil and gas revenues
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