Germany is making slow progress in imposing sanctions on Russian oligarchs and institutions, according to government data seen by Reuters over the weekend.

According to the German Finance Ministry, Germany has frozen assets worth approximately 5.25 billion euros belonging to oligarchs who were sanctioned after Russia’s invasion of Ukraine. Six months ago, this figure was 4.28 billion euros.

This information was reported by the ministry in response to the request of German MP Christian Gerke.

“Since December, only 200 million euros of oligarchs’ assets have been frozen, and only one billion in six months. Not a single oligarch has reported his assets since December,” Gerke criticized.

Under German law, targets of European Union sanctions must immediately declare their assets under the threat of a fine or up to a year in prison.

According to the government, eight oligarchs have so far reported 31 assets to the Bundesbank. The cost is approximately 577 million euros. This is divided between account balances, company assets and securities. (news.ro)

Follow the latest events of the 375th day of the war in Ukraine LIVETEXT on HOTNEWS.RO.