EU Nations Have Frozen More Than $32 Billion in Russian Assets

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  • Bloc’s new Freeze and Seize task force reports latest numbers
  • EU urges nations to report back about sanctions enforcement

European Union nations have frozen some 29.5 billion euros ($32.1 billion) in assets linked to Russian and Belarusian individuals and entities since the bloc adopted its first sanctions over Russia’s invasion of Ukraine.

The EU’s new “freeze and seize” task force said that more than half of the bloc’s 27 member nations have informed it about the measures they have taken to enforce sanctions since the new team was created last month to better coordinate efforts. 

The frozen assets include boats, helicopters, real estate and artwork valued at almost 6.7 billion euros. Additionally, the EU has blocked approximately 196 billion euros worth of transactions, the commission said on Friday.

“Let me remind you that adopting sanctions is not enough. It is also important to track our progress and enforce our sanctions policy in practice,” the EU’s justice commissioner, Didier Reynders, said in a statement. “I urge all member states to take all the necessary measures to enforce sanctions and those who have not done so yet to report to the commission without delay.”

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The EU this week agreed to ban coal imports from Russia in its first move targeting Moscow’s crucial energy revenue after reports of Russian atrocities in Ukraine propelled officials to expand a fifth round of sanctions. The EU’s antitrust chief, Margrethe Vestager, told Bloomberg Television Thursday that “everything is on the table” to keep the pressure up on Russia.

Original source of article: bloomberg.com

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