German authorities froze Russian assets worth 5.32 billion euros during the Ukrainian War, according to the daily Welt and the Federal Ministry of Finance.
The newspaper explains that this covers the assets of the Central Bank of Russia as well as assets belonged to Russian firms and people who have been subject to European Union sanctions.
The names of the Russian oligarchs whose assets were frozen, together with the value of the frozen assets, were withheld by the German Ministry of Finance.The EU issued the tenth set of penalties against Russia on February 15 that are worth $11 billion in euros. Bans on trade and limitations on technology will be part of the package. According to Ursula von der Leyen, President of the European Commission, sanctions will also be taken against Iran for supplying drones to Russia.
“The Russian economy is contracting as a result of nine different sanctions packages. We’re also putting forth a tenth set of measures to maintain this intense pressure, “Ursula von der Leyen added.
