Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

 Western Sanctions Freeze $330 Billion in Russian Assets

Thu 30 Jun 2022 | 11:14 AM
Ahmed Moamar

The US Treasury announced that the value of Russian assets that the United States America (USA), and Western countries have frozen amounted to $330 billion since the start of the Ukraine war towards the end of last February.

The "Business Unit" of the Western allies responsible for tracking Russian assets said in a statement that Western countries had frozen $30 billion in assets owned by Russian wealthy people, in addition to the Russian Central Bank's $300 billion overseas assets, along with the seizure of five luxury yachts worth hundreds of millions of dollars in luxury real estate.

This unit was formed last March and includes officials from the USA,   France, Britain, Germany, Japan, Australia, Canada, and the European Commission.

This unit works on pursuing Russian assets, targeting wealthy Russians close to President Vladimir Putin, and freezing their properties in Western countries with the aim of imposing a heavy cost on those close to the Kremlin.