In reaction to the sanctions imposed on Russia in response to the invasion, Didier Raenders, the European Justice Commissioner, said on Saturday that about 17 billion euros in businesspeople and Russian businesses in the European Union have been frozen in seven member states.
In an interview with the German “Fonki” group’s media, he stated: “Up to this point, the assets of 90 people, totaling more than 17 billion euros in seven member states, including 2, have been frozen.
2 billion in Germany,” he stated during a media interview with the German band “Fonki.”
According to Reenders, the value of the frozen assets in the European Union, mostly in five countries and owned by Olegaron or members of the Russian aristocracy, is around 13.8 billion euros. Twenty-seven nations have imposed sanctions on these individuals.
The commissioner also stated in the interview that was released on Saturday that “if a criminal amount of money issued by the European Union, it might be moved to a compensation fund for Ukraine.”
Officials from Ukraine want that frozen assets be used to help them recover after the war. The amount “is not enough to finance reconstruction,” Raenders cautioned.
Western sanctions also caused the Russian Central Bank’s foreign exchange holdings to be “frozen” in the amount of 300 billion euros, which the commissioner may choose to use as a “guarantee”.
Additionally, Ukraine intends to use this money for restoration.
He continued, “I believe it is conceivable, at the very least, to retain the sums of 300 billion euros as a guarantee so that Russia automatically helps in the reconstruction of Ukraine.
Since the invasion of the Crimea in 2014, 1236 individuals and 115 businesses, including Russian President Vladimir Putin, his foreign minister Sergey Lavrov, Duma Council members, and members of the oligarchy like Roman Abramovich, Mikhail Friedman, and Peter Aven, have been denied entry to the EU.
The European Union has so far blocked Russian assets worth an estimated 17 billion euros as a result of the sanctions.
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