Plummeting Freeze: Decline in Russian Asset Seizures in Germany

The amount of frozen Russian assets in Germany fell to approximately 3.5 billion euros, a decline from over 5 billion euros in 2022, according to a German finance ministry letter. The decrease sparked concerns about the effectiveness of sanctions against Russian oligarchs amidst the ongoing conflict in Ukraine.

According to a recent letter from the German Finance Ministry, frozen Russian assets in Germany have decreased compared to the previous year. The report reveals that the current amount stands at around 3.5 billion euros (approximately $3.67 billion), a drop from figures exceeding 5 billion euros since 2022.

The response, directed to Left Party lawmaker Christian Goerke, noted that the valuation of these assets is subject to fluctuations. It did not, however, provide specific details regarding the distribution of these assets in Germany.

Goerke expressed concern over the diminishing impact of sanctions against Russian oligarchs, emphasizing their relevance as Russia, led by President Vladimir Putin, continues its incursion into Ukraine. Despite these geopolitical tensions, frozen assets in Germany have notably declined, raising questions about the sanctions' efficacy.

(With inputs from agencies.)