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France has frozen €1.2 billion of Russian assets

From March to July, the amount of frozen Russian assets in France increased from €850 million to €1.2 billion.

   
August 5, 2022, 03:59
Business & Energy
France has frozen €1.2 billion of Russian assets

PARIS (Realist English). The total amount of Russian-related assets frozen in connection with the anti-Russian sanctions imposed in France tentatively amounts to €1.2 billion. This was stated in an interview with La Tribune by the head of the Intelligence and Counteraction to Clandestine Financial Schemes (Tracfin) of the French Ministry of Finance, Guillaume Vallet-Valla.

“The volume of frozen assets is about €1.2 billion, if we do not take into account those belonging to the Bank of Russia,” he said.

This amount is almost twice as much as the previous data announced at the end of March this year. At that time, Russian assets worth €850 million were frozen in France.

Since the beginning of the special military operation on the territory of the former Ukraine, the French government has instructed Tracfin to create a working group on the implementation of EU sanctions against Russia.

In early July, the European Union froze Russian assets worth €13.8 billion, of which more than €12 billion was frozen in only five member states.

Economic WarfareFranceFrance’s Foreign PolicyRussiaRussia-France RelationsRussia’s EconomySanctions
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