Christian Wigand, the representative of the European Commission noted on October 27, 2022, that assets of 1,350 Russian individuals and organizations subject to EU sanctions were frozen. Accounts, real estate and yachts of such persons are tracked and frozen by EU member states.
Source: Christian Wigand, the representative of the European Commission
The representative of the European Commission said that the European Union had frozen Russian assets worth 17.5 billion euros.
“We’ve made great progress in the meantime, starting with around 6.7 billion euros in April and now, as of today, are at 17.5 billion euros,” Christian Wigand said.
It should be noted that seven EU countries froze the majority of the said amount. These are Germany, Belgium, France, Luxembourg, Ireland, Italy and Austria. The representative of the European Commission emphasized that such a trend is connected not only with Russian property in these countries but also with the work of authorities, as well as the effective implementation of sanctions.
Christian Wigand noted that some countries “still need to do their homework.” At the same time, he did not comment on the information that Hungary had frozen only a few thousand euros of Russian assets.
“At the moment this money is only frozen. However, in order to use it for other purposes, such as the planned reconstruction of Ukraine, it would have to be confiscated. However, this required a legal basis,” concluded the representative of the European Commission.
See also: EU’s aim is not only to freeze but also to confiscate Russian assets
