Germany Freezes Russian Billions

As of early December, German authorities have frozen Russian assets valued at approximately €4.1 billion under the EU sanctions regime. This was announced during a press briefing by a representative of the German Ministry of Finance.

“This includes all assets subject to sanctions, which consist of frozen funds, economic resources of individuals, as well as blocked assets of the Central Bank of Russia,” he stated.

Previously, the German Federal Prosecutor's Office announced that it had submitted a motion to the court for the seizure of over €720 million in Russian assets. The motion is currently under preliminary discussion, and a decision regarding the initiation of the main legal proceedings has not yet been made.