More than €4B in Russian assets have been seized in Germany.

As of the beginning of December 2023, the Ministry of Finance of Germany reported that due to Russia’s war against Ukraine, Germany has seized about €4.1B in Russian assets. It is noted that these are frozen accounts, economic resources of individual persons, and blocked funds belonging to the Russian Central Bank.

At the same time, the German Foreign Ministry notes that the G7 countries have agreed to “make efforts to ensure that the Russian Federation pays for the reconstruction of Ukraine in the long term,” for which it was decided to freeze Russian state assets. Also for this purpose, a register of damages caused during the invasion was also started.

Germany will also confiscate more than €720M from the National Settlement Depository held in the German subsidiary of American bank, JP Morgan.

As reported by media earlier, Germany has frozen Russian assets worth €5.32B since the beginning of the Russian military operation in Ukraine, this amount includes the assets of individuals and companies under sanctions, as well as the Central Bank of Russia.