France freezes €850m of Russian assets

France has frozen and seized the assets of Russian oligarchs worth about 850 million euros (938 million dollars).

Property worth 539 million euros has been seized, according to French Economy Minister Le Maire Bruno, NAN reported.

He said that another 150 million euros had been blocked from private accounts at French banks, and that two boats worth 150 million euros had been seized.

France formed a group to carry out EU sanctions against Russian oligarchs and people close to President Vladimir Putin.

It is entrusted with locating their assets in France and identifying the owners of bank accounts, luxury houses, and boats, a difficult task given the numerous shell companies used to conceal identities.



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