All sanctioned assets of the Russian Federation are blocked in Germany 19:27

The German Ministry of Finance announced that Russian assets worth 4.1 billion Euros will be frozen within the scope of EU sanctions. This was stated by a representative of the department, reports TASS.

According to him, all assets subject to sanctions were frozen – money and resources of individuals, as well as assets of the Central Bank of the Russian Federation, were also blocked.

Previously, the German Chief Public Prosecutor’s Office had requested the seizure of Russian assets worth 720 million Euros. The decision to initiate the legal process has not been made yet.

European Commission at the beginning of December approved Establishment of a system for blocking income from frozen Russian assets. Before that, the European Commission estimated that the Russian Federation’s income from assets frozen for 4 years was 15 billion euros.

The EC plans to use frozen Russian assets in several stages; First of all, net revenues will be transferred to the 2024-2027 EU budget. Profit from frozen assets will then be clearly identified and accounted for in accordance with authorized capital.

Previously EU institutions acceptance Imposition of criminal liability for violation of sanctions.

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Source: Gazeta

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