Italy Blocked €2 Bln Russian Assets

by Meifan Honcharuk
Wednesday, July 12, 2023
Italy Blocked €2 Bln Russian Assets

Anti-money laundering Supervision and Regulation published data on money, yachts, cars and villas of Kremlin patrons

The Financial Intelligence Unit of Italian Anti-money laundering Supervision and Regulation has updated data on funds frozen by sanctions against the Kremlin and its accomplices/sponsors. The total value of the assets is about €2 billion: financial assets, the rest cars, real estate, yachts and other attributes. Of these, €330 million belong to 80 Russian oligarchs. The information was provided by the head of the UIF, Enzo Serata. Such a high figure is explained by the fact that the amazing nature and service onlLake Como, Sardinia, Tuscany, the Ligurian coast and other pearls of Italy attract Russian oligarchs. 

We remind you that the US House of Representatives called on President Biden to transfer to Ukraine the funds of the Russian Central bank, frozen by sanctions. At the same time, Estonia has already developed a legal solution that allows the transfer of Russian money to Ukraine as reparations. The EU does not yet see an opportunity to follow the example of Estonia but is ready to use the interest from the income of sanctioned assets.

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