As a result of the war in Ukraine, France seized assets of Russian oligarchs worth almost 850 million euros – yachts, apartments, bank accounts. This was stated today by Minister of Economy and Finance Bruno Le Mer, reports Agence France-Presse.
“We have frozen 150 million euros in the accounts of individuals, credit lines in France, in French institutions,” he said in a joint broadcast of several media outlets that were broadcast on radio and television.
In addition, “we seized real estate in France for 539 million euros, ie about thirty real estate and apartments, and two yachts for 150 million euros,” – said the minister.
In practice, such seizure of property means that its owners “can no longer dispose of it, resell it or convert it into money.”
“On the other hand, they are not confiscated in the sense that the state becomes their owner and can resell them. Confiscation requires a criminal offense,” Bruno Le Mer added.
“Sanctions are painful for Russia, painful for the Russian state, painful for (Russian President) Vladimir Putin,” said the French statesman, noting that the assets of Russia’s central bank worth 22 billion euros were frozen.