German sanctions against Russian oligarchs advancing slowly
Reuters
Published Mar 04, 2023 06:07AM ET
BERLIN (Reuters) - Germany is making slow progress in enforcing sanctions against Russian oligarchs and institutions, according to government numbers seen by Reuters on Saturday.
Germany has frozen around 5.25 billion euros ($5.57 billion)in assets belonging to sanctioned oligarchs since Russia's invasion of Ukraine, according to the German finance ministry. The figure was 4.28 billion euros six months ago.
The ministry shared this information in reply to a request from member of the German parliament Christian Goerke.
"Since December, only 200 million euros in oligarch assets have been frozen, and for half a year, just one billion. Not a single oligarch has reported his assets since December," Goerke criticized.
Under Germany's sanctions law, targets of European Union sanctions must declare their assets immediately, under penalty of a fine or up to a year in prison.
Eight oligarchs have reported 31 asset positions to the Bundesbank so far, according to government figures. The value equals about 577 million euros. It is distributed among account balances, company holdings and securities.
($1 = 0.9422 euros)
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.