Germany freezes €5.32 billion of Russian assets during the year of the conflict

More than €5 billion of assets of the Central Bank, sanctioned companies and people were blocked in German banks. According to Bloomberg, the parties of the republic are generally ready to approve the transfer of funds to Ukraine,

Germany, as part of restrictive measures against Russia, blocked €5.32 billion during the year of the conflict in Ukraine, this amount includes the assets of the Central Bank, sanctioned companies and individuals. Welt am Sonntag was informed about this by the Federal Ministry of Finance of Germany.

At the same time, the department refused to clarify the share in this amount, which belongs to the "so-called oligarchs." The newspaper noted that the ministry is required by the Sanctions Act to keep a public register of frozen assets, but this has not yet been done. The German Ministry of Finance, in response to a request, assured that it was engaged in the technical implementation of this issue.

The Central Bank considered it unlikely that the blocked assets of banks would be returned

The German Finance Ministry said last spring that it was “politically open” to the confiscation of the assets of the Russian Central Bank, but this decision needs to be discussed, since the difficulties associated with this are too serious.

Discussions in Germany on this are still ongoing. Bloomberg sources said in early January that the country's political parties were generally willing to use blocked Russian assets to rebuild Ukraine, but feared legal consequences and therefore awaited the actions of Kyiv's other Western partners.

The toughest position in the German government is held by Foreign Minister Annalena Berbock, who demands that Russia pay for all the damage caused to Ukraine, and for this, at least part of the blocked assets should be withdrawn; but pro-business finance minister Christian Lindner sees the move as a dangerous precedent that would drag the EU into litigation, agency sources said.

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The Russian authorities call the European sanctions insane and thoughtless, condemning the blocking of accounts as well. President Vladimir Putin insists that "stealing other people's assets" will only lead to problems for those who dare to take such a step. “Violation of the rules, norms in the field of international finance, trade does not lead to anything good,” the president emphasized. Its spokesman Dmitry Peskov called the possible confiscation "illegal, flagrant."