German Prosecutor's Office plans to seize €720 mln of frozen Russian assets
A German federal prosecutor intends to confiscate €720 million of Russia's frozen assets. This could be the first such precedent in the country
Spiegel reports the update.
It is noted that Peter Frank, the federal prosecutor, filed a petition with the Higher Regional Court in Frankfurt am Main to confiscate €720 million, which were previously frozen as Russian assets, in favor of the state budget.
If the Federal Prosecutor's Office approves its application, more than 700 million euros will go to the federal budget. In particular, this is money from the National Settlement Depository of the Moscow Exchange, which was sanctioned by the EU in June 2022.
- The bill on the confiscation and transfer of Russian assets to Ukraine was registered in the US Senate in mid-June.
- On November 30, the US Senate introduced a bill to confiscate Russian assets.
- The European Commission plans to raise €15 billion from Russia's frozen assets to provide financial aid to Ukraine.