News

Russian Assets worth $938 Million Frozen By France

Russian oligarchs’ assets to the tune of around $938 million has been frozen and seized by France

Property worth €539 million had been blocked, Le Maire French Economy Minister Bruno said.

He said another €150 million from private accounts at French banks had been frozen, and two yachts worth €150 million have been seized.

France established a task force to implement EU sanctions against Russian oligarchs or those close to President Vladimir Putin.

The unnamed task force is said to find their assets in France and identify the owners of bank accounts, luxury villas and yachts, which is a complicated endeavor due to the many shell companies used to hide identities.

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