EU Hunt for Sanctioned Russian Billionaires’ Assets Stalls
The European Union is struggling to find and freeze the assets of sanctioned Russian billionaires, with the total figure increasing only modestly in recent months.
The bloc has so far frozen €20.9 billion ($22 billion) in assets, even though the EU has targeted Russia with 10 rounds of sanctions since President Vladimir Putin’s invasion of Ukraine more than a year ago. Back in October, the bloc reported that some €17.4 billion had been frozen.
While Belgium and Luxembourg have immobilized billions, other member nations have disclosed nearly negligible figures, with Greece saying it has frozen only €212,201 and Malta reporting €222,470, according to the latest numbers, seen by Bloomberg.
Officials believe there are substantially more assets of sanctioned Russian individuals that could potentially be targeted. In 2019, Russia’s Foreign Direct Investment stock in the EU was estimated at €136 billion, according to official statistics.
The EU is preparing a new package of sanctions against Russia8109:42
UBS Close to Deal to Buy Credit Suisse for Over $2 Billion183419.03.2023, 22:24
Sarsang water levels drop at alarming rate amid blockade, farmers in both Nagorno Karabakh and Azerbaijan to be affected156817.03.2023, 11:54
Russian and Belarusian aircraft stopped serving in Turkey after a letter from the US Department of Commerce168816.03.2023, 23:30
Zenesky imposed sanctions on business entities from Armenia172011.03.2023, 15:06
Canada bans Russian aluminum and steel imports168311.03.2023, 11:54