France has frozen or confiscated the resources of Russian oligarchs worth about 850 million euros, Economy Minister Bruno Lemerre said yesterday.
539m euros worth of real estate, 150m euros in deposits and placements in French bank accounts have been frozen, Lemmer told RTL, adding that two yachts worth 150m euros had been seized.
The French government has set up a task force tasked with enforcing European Union sanctions against Russian oligarchs and individuals close to Russian President Vladimir Putin.
It is mandated to locate these resources in the French jurisdiction, to identify the beneficiaries of bank accounts, luxury real estate and yachts, a complex task by definition, as showcase companies, usually offshore, are often used to hide the real owners of these resources.
SOURCE: AMPE
Source: Capital
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