Ukraine: France Freezes €850m Worth Of Russian Assets

The French government has frozen and seized the assets of Russian oligarchs to the tune of around 850 million euros (938 million dollars).

According to French Economy Minister, Le Maire Bruno, property worth 539 million euros had been blocked.

According to him another 150 million euros from private accounts at French banks have been frozen and two yachts worth 150 million euros have been seized.

France established a task force to implement EU sanctions against Russian oligarchs or those close to President Vladimir Putin.

According to the reports, it is tasked with finding their assets in France and identifying the owners of bank accounts, luxury villas, and yachts, which is a complicated endeavor due to the many shell companies used to hide identities.

“We have immobilized… 150 million euros in individual’s accounts, credit lines in France and in French establishments, ” Le Maire told French Journalists as Paris hits Moscow over its invasion of Ukraine.

 Le Maire said, “We have immobilized 539 million euros in real estate on French territory, corresponding to some 390 properties or apartments and we have sequestered two yachts (with a value of) 150 million euros”.

“In total that is (almost) €850 million in assets belonging to Russian oligarchs which have been immobilized on French soil,” he added.


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