Thu. Jun 1st, 2023

Ukraine War, EU Freezes 19 Billion Euros Of Russian Assets, Report

Brussels (Daily Pakistan Online) The European Union countries led by Belgium and Luxembourg have frozen the assets of 18.9 billion euros of Russian oligarchs and institutions under sanctions due to the war against Ukraine. According to the news agency AFP, Belgium has frozen the most assets of Russia, the value of these assets is three and a half billion euros. Apart from this, Luxembourg has frozen assets worth 2.5 billion, Italy 2.3 billion and Germany 2.2 billion. Ireland, Austria, France and Spain are the other members of the 27-nation bloc that have frozen more than one billion euros of Russian assets per capita, according to EU data as of November 25.

The European Union has repeatedly imposed numerous sanctions against the Russian economy since Moscow launched an all-out invasion of Ukraine in February. Malta, a country that has run a controversial ‘golden passport’ scheme for wealthy investors, including Russians, is at the bottom of the list, with Russia’s €146,558 blocked. Greece ranks second from the bottom with assets worth 212,201 euros.

The European Union has frozen the assets of a total of 1,241 Russian individuals and 118 entities, and has also banned the entry of the embargoed individuals into the European Union.

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