Member of the European Commission for justice Didier Reynders said that during the time of inclusion of Russia in the sanctions lists for aggression against Ukraine, it was possible to freeze €21.5 billion of Russian assets. All these are financial resources of oligarchs and legal entities having Russian citizenship. More than 400 legal entities and more than several thousand individuals supporting the Kremlin’s regime have already entered the list of restrictions for the year.
The European Commission notes that the next step will be to find viable methods of confiscating frozen funds. Consideration is currently being given to the possibility of full confiscation of funds if a sanction list representative is involved in any criminal offence. Recall that Ukraine’s international allies state that the blocked money of the aggressor should be spent on the reconstruction of the country. The European Commission also states that this is not the final amount. Russian representatives will continue to appear in the lists of international sanctions. Europe is also working to freeze Russia’s Central Bank reserves.
This process is carried out by the European Union together with the G7 and Switzerland.