European Justice Commissioner Didier Raenders announced on Saturday that about 17 billion euros of Oligarshrine Ross’s assets and Russian entities in the European Union have been frozen in seven member states, following the sanctions imposed on Russia in response to the war in Ukraine.
In an interview, he stated, “so far, the origins of 90 people have been frozen, amounting to more than 17 billion euros in seven member nations, including 2.
Germany has 2 billion.
In the interview that was released on Saturday, the commissioner also stated, “If the criminal monies issued by the European Union, they might be moved to a compensation fund for Ukraine.”
And he added, “Ukraine also wants to use this money for reconstruction. As a guarantee, he continued, “I believe it is conceivable to hold the cash of at least 300 billion euros until Moscow automatically joins in the reconstruction.”
In order to reconstruct their nation after the war, Ukrainian leaders are urging the use of frozen assets. The cash “is not enough to support reconstruction,” though, Rinders emphasised.
It is noteworthy that in the beginning of July, Renders estimated the value of the frozen assets in the European Union at about 13. 8 billion euros, mainly in five countries, owned by Oligarsion or members of the Russian elite, the twenty -seven countries imposed sanctions on them.
But afterwards, as a result of Western sanctions, the Russian Central Bank’s global foreign exchange holdings were “frozen” to the tune of 300 billion euros.
The origins of 1236 individuals, including Russian President Vladimir Putin and his foreign minister Sergey Lavrov, members of the Duma Council and Oligarchy like Roman Abramovich, Michael Friedman, and Peter Aven, as well as 115 entities, have also been prohibited from entering the European Union since the invasion of the Crimea in 2014.
The European Union seizes 17 billion euros worth of Russian assets.
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