BERLIN, March 4 — 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 (RM25 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 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 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. It is distributed among account balances, company holdings and securities. — Reuters
