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EU Hunt for Sanctioned Russian Billionaires’ Assets Stalls

Bloc has frozen €20.9 billion in modest boost from late 2022
Greece, Malta have reported smallest totals across the EU

Pedestrians walk by Saint Basil's Cathedral on Red Square in Moscow. — Pedestrians walk by Saint Basil's Cathedral on Red Square in Moscow.
Source: Bloomberg

By

Stephanie Bodoni and

Alberto Nardelli

March 9, 2023, 1:07 PM UTCUpdated onMarch 9, 2023, 2:41 PM UTC

The European Union is struggling to find and freeze the assets of sanctioned Russian billionaires, with the total figure increasing only modestly in recent months.

The bloc has so far frozen €20.9 billion ($22 billion) in assets, even though the EU has targeted Russia with 10 rounds of sanctions since President Vladimir Putin’s invasion of Ukraine more than a year ago. Back in October, the bloc reported that some €17.4 billion had been frozen.