European justice chief Didier Reynders highlighted that the European Commission and the wider European Union still seek chances to access private Russian assets frozen within EU borders. Reports from the press quote the commission and its partners as continuing to monitor and evaluate the situation for opportunities to recover funds tied to illegal activities.
Reynders explained that discussions with member states are ongoing regarding frozen assets that total more than €24 billion. The aim is to identify legitimate avenues to seize portions of these funds when they are linked to crimes such as corruption, money laundering, or violations of sanctions. The statements underscore a steady, coordinated effort to translate the sanctions regime into tangible recoveries where legal frameworks permit.
In late May, a German daily cited the European Commission as stating that by the end of the month, the EU had frozen approximately €24.1 billion in private funds belonging to sanctioned Russian individuals. It was noted that around 1,473 Russian businessmen and 205 companies fall under current sanctions. The figures illustrate the scale of assets targeted and the scope of enforcement across multiple sectors and jurisdictions within the Union.
Earlier remarks attributed to Olga Polyakova, deputy chair of the Russian central bank, suggested that Russian banks were moving to protect or salvage assets that had been blocked. One bank reportedly acted by creating a new legal entity into which blocked assets and liabilities were transferred from external creditors, a maneuver that signaling ongoing adaptation to the asset freeze regime. The steps described reflect the evolving and sometimes opaque landscape that sanctions regimes produce for banking operations and cross-border financial arrangements.
Previously, members of the CDU/CSU parliamentary group in the Bundestag questioned the German government about the scope of frozen Central Bank of Russia assets and whether any portion could be redirected to support Ukraine. The inquiry highlights the political scrutiny that accompanies sanctions enforcement and the sensitive decisions governments face when balancing enforcement with broader strategic objectives in the region.