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EU froze EUR 17.4 bn worth of Russian assets – EU official

EU froze EUR 17.4 bn worth of Russian assets – EU official

European Commissioner for Justice Didier Reynders informed that EUR 17.4 bn of assets of Russian origin are currently frozen in EU, Interfax Ukraine reported.

“This is a huge amount – EUR17.4 billion – but 90% of these funds are in seven Member States. It is important to insist that all Member States apply the sanctions correctly and that they report correctly to the (European) Commission on the full amounts that can be frozen,” Reynders said on Thursday at a press conference in Luxembourg after the EU Justice Council meeting.

According to him, this topic was raised at the EU Council in connection with the discussion of justice ministers on how to apply EU sanctions in connection with the Russian invasion of Ukraine.

The number he named is inconsistent with reporting from August, when the number of Russian frozen assets was said to jump from EUR 13.8 bn after Belgium froze EUR 50.5 billion of funds connected to Russian entities. We have reached out to Mr. Reynders for clarification.

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