Belgium freezes 50.5 billion euros in Russian funds
330 billion of Russian assets frozen, blocked, or immobilized by REPO Task Force
Their Finance, Justice, Home Affairs, and Trade Ministers and European Commissioners jointly committed to “prioritizing resources and working together to take all available legal steps to find, restrain, freeze, seize, and, where appropriate, confiscate or forfeit the assets of those individuals and entities that have been sanctioned in connection with Russia’s premeditated, unjust, and unprovoked invasion of Ukraine and the continuing aggression of the Russian regime.”
REPO says that in the coming months it will
- track Russian-sanctioned assets and
- prevent sanctioned Russians from undermining the measures that REPO members have jointly imposed.
It is working collaboratively with the private sector to promote effective sanctions implementation. It works closely with the European Commission’s Freeze and Seize Task Force.
“Together, we will ensure that our sanctions continue to impose costs on Russia for its unprovoked and continuing aggression in Ukraine and to prevent funds and economic resources from being provided to or for the benefit of designated persons. As we undertake this work, we are seeking to maximize the impact of sanctions on designated persons and entities while guarding against spillover that affects global commodities markets and food supplies, which Russia has disrupted by choosing and continuing to wage war,” REPO wrote.