During the Russian invasion of Ukraine, Italy froze Russian assets worth $2.5 billion

In its annual report, the Anti-Money Laundering Unit (UIF) of the Central Bank of Italy reported that as of the end of June, the amount of frozen Russian assets amounted to $2.5 billion. This is money that began to be blocked from February 24, 2022.

Reuters reports about this.

Director of the UIF Enzo Serata clarified that within the framework of the sanctions, it was possible to freeze financial assets worth about €330 million, related to 80 individuals.

Among the assets of the Russian Federation, which were frozen in Italy, are bank accounts, luxurious villas, yachts and cars.

• Since the beginning of Russiaʼs full-scale invasion of Ukraine, Western countries have begun to freeze Russian assets. Official representatives of our country expect that these assets will be confiscated and transferred to Ukraine. In particular, such an initiative has already begun to be seriously considered in the USA. On February 3, Attorney General Merrick Garland for the first time allowed the confiscation of the Russian oligarchʼs funds to be transferred to Ukraine.
• Since the beginning of the war in Ukraine, the EU has frozen the assets of the Russian Central Bank for more than €200 billion. A significant part of these funds is kept in the depository of Euroclear and has already brought almost €750 million in profit in the first quarter of 2023. In addition, the EU has frozen €24.1 billion in assets belonging to Russians and Russian companies under sanctions.