Not a single Russian subject to EU sanctions has declared his assets in Germany under German law. Reuters Referring to the letter of the German Ministry of Economic Affairs and Climate Protection to Christian Gercke, a member of the Bundestag.
“Neither the Bundesbank nor the Federal Office for Economic and Export Control have received any clarifications,” German Economy Ministry Foreign Minister Udo Philipp said in a letter.
According to the agency, since the beginning of the Russian special operation in Ukraine, 2.3 billion euros belonging to Russian businessmen on the sanctions list have been frozen in German banks.
Gercke called for stricter rules. He noted that asset disclosure requirements for sanctioned individuals should be extended to “people who do business with oligarchs,” namely notaries, brokers, used car dealers, art dealers and banks.
Bundestag in May liveThis allows for more extensive imposition of sanctions against Russian businessmen. Prior to this, Germany did not have a legal framework that would allow the property of sanctioned persons to be searched.