Three months after Russia began its invasion offensive against Ukraine, Germany froze nearly 143 million euros in funds belonging to senior Russian businessmen and people on the European Union’s (EU) sanctions list.
Germany’s Finance Ministry announced today, shortly after the start of the war, that the value of the frozen funds was only 342 thousand euros until the end of February. As of May 23rd, the value of Russian funds frozen in Germany amounted to about 142,990,000 euros.
Germany bases this on the European Union arrangement drafted in 2014 after Russia’s annexation of Ukraine’s Crimea.
EU leaders will ban oil imports from Russia other than Moscow’s pipeline supply in response to Russia’s invasion of Ukraine with a package of sanctions prepared for a summit today.
