US and allies freeze over $58 billion worth of sanctioned Russian assets
REPO have successfully blocked or frozen more than $58 billion worth of sanctioned Russians’ assets (Photo:Elizaveta Sergienko/Press Center of the NBU)
The United States and its allies have frozen more than $58 billion worth of assets owned or controlled by Russian citizens, the U.S. Treasury Department reported on March 9.
“Members of the Russian Elites, Proxies, and Oligarchs (REPO) Task Force have successfully blocked or frozen more than $58 billion worth of sanctioned Russians’ assets, tracked sanctioned Russian assets across the globe, and heavily restricted sanctioned Russians from the international financial system,” the REPO Task Force said in a joint statement.
The group also ensured that Russian Central Bank and Russian National Wealth Fund assets under U.S. jurisdictions remain immobilized to prevent their use in Russia’s war effort.
REPO members have frozen billions of dollars worth of luxury real estate and other luxury assets owned, held, or controlled by sanctioned Russians, as well as yachts, aircraft, and other property held around the globe.
“As Russia’s war of aggression continues, REPO members remain determined in their commitment to impose steep costs on Russia,” the statement says.
“REPO will continue to identify, locate, and freeze the assets of sanctioned Russians, with the aim of depriving the Kremlin of the funds it needs to fight its illegal war.”
REPO plans to redouble its efforts to hold Russia accountable for its unjust war by countering Russian efforts to undermine, circumvent, or evade REPO’s collective sanctions.
The REPO Task Force was established in March 2022 by the ministers of finance, justice, internal affairs of a number of countries, as well as the relevant EU commissioners, to identify, limit, freeze, arrest, and confiscate assets of individuals and legal entities sanctioned for Russia’s aggression against Ukraine.
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