Hungary freezes Russian assets worth EUR 870 million

This was reported by Nepszava.

“Maybe it's just a coincidence, but in any case, it's worth noting: significant sanctioned assets were discovered in Hungary in November. Just as the fight for EU funds with Brussels intensified, as the board announced late last month that it would recommend freezing part of the subsidies,” the publication suggests.

It is noted that EUR 870 million is quite a significant amount, especially if we remember how much Budapest blocked last time - HUF 1.2 million, or EUR 3,000. In addition, significant sanctions assets were discovered in Hungary just as Viktor Orbán's government's fight for EU funds with Brussels intensified.

Russian private assets, frozen in EU member states, Nepszava reminds, currently amount to approximately EUR 19 billion. According to the latest data, for example, in Italy - EUR 2.3 billion, in Germany - EUR 2.2 billion, in Austria - almost EUR 1.8 billion, in Bulgaria - EUR 11.3 million, in the Czech Republic - EUR 10.8 million, and in Slovakia - EUR 4.9 million. However, the total amount of seized property is not specified.

“Due to the war against Ukraine, the European Union has so far imposed sanctions against 1,241 individuals and 118 organizations, i.e. ordered to freeze their assets and impose a ban on entry,” the publication adds.