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Editor in Chief Mohamed Wadie

France Freezes Russian Assets Worth over 1 Bln Euros

Mon 01 Aug 2022 | 06:42 PM
Israa Farhan

Guillaume Valette Valla, the head of the intelligence department and the response to secret financial operations for France's Ministry of Finance (Tracfin), said that his country froze Russian assets worth 1.2 billion euros.

He pointed out that this does not include the assets of the Russian Central Bank, which were previously frozen.

The official added in a press interview that the value of the frozen Russian assets in France is 1.2 billion euros, not counting the assets of the Russian Central Bank.

He indicated that this freeze includes financial and non-financial assets (for example, real estate).

At the end of March, France froze the assets of the Russian Central Bank in the amount of 22 billion euros.

Previously, Didier Reynders, the European Commissioner for Justice mentioned that 13.8 billion euros of Russian assets in the European Union (EU) had been frozen, including 12.6 billion in six EU countries.

According to Reynders, not all EU countries are making sufficient efforts to freeze assets that have been subject to sanctions.