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France freezes €850m of Russian assets

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France has frozen and seized assets of Russian oligarchs to the tune of around 850 million euros (938 million dollars).

Property worth 539 million euros had been blocked, Le Maire French Economy Minister Bruno said.

He said another 150 million euros from private accounts at French banks have been frozen and two yachts worth 150 million euros have been seized.

France established a taskforce to implement EU sanctions against Russian oligarchs or those close to President Vladimir Putin.

It is tasked with finding their assets in France and identifying the owners of bank accounts, luxury villas and yachts, which is a complicated endeavour due to the many shell companies used to hide identities.

nasarawa news

Ummul Idris

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