REPO Task Forces Says Over $30 Billion of Russian Assets Have Been Frozen
The U.K.'s Russian Elites, Proxies and Oligarchs Task Force has blocked or frozen over $30 billion in sanctioned Russian assets, the Office of Financial Sanctions Implementation announced. The task force has frozen or seized sanctioned individuals' "high-value goods," and restricted sanctioned individuals' access to the international financial system, OFSI said. Through coordination between REPO Task Force members, around $300 billion of Russian Central Bank assets have been frozen, various yachts and other vessels controlled by sanctioned Russians detained and access to the global financial system cut off.
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"REPO’s work is not yet complete," OFSI said. "In the coming months, REPO members will continue to track Russian sanctioned assets and prevent sanctioned Russians from undermining the measures that REPO members have jointly imposed. Together, we will ensure that our sanctions continue to impose costs on Russia for its unprovoked and continuing aggression in Ukraine and to prevent funds and economic resources from being provided to or for the benefit of designated persons."