German Sanctions Against Russian Oligarchs Advancing Slowly

Germany is making slow progress in enforcing sanctions against Russian oligarchs and institutions.

Germany has frozen around 5.25 billion euros ($5.57 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 euros 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 euros 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.

Sourse: Reuters