Austria freezes assets of Russians for €254 million

Austrian parliament

A special interdepartmental group under the State Security and Intelligence Directorate of the Austrian Ministry of Internal Affairs for the search and blocking of assets of sanctioned persons reported on the interim results of their work. As part of the restrictions, the Austrian authorities froze €254 million on 97 different accounts.

As noted in the interdepartmental group, in a number of cases attempts were made to hide the real ownership of funds and avoid restrictive measures, reports TV channel ORF.

Actions to identify the accounts of Russian individuals are difficult due to the creation of various companies and the use of nominees to mask accounts, representatives of the task force said. Despite this, Austria promised to continue blocking Russian assets.

The next report of the ad hoc interagency group is expected to be published at the end of May.

The assets of Russian individuals and legal entities are subject to blocking in European countries as part of anti-Russian sanctions. In particular, The Netherlands freezes Russian assets worth €632 millionRussian operations for €274.3 million are also blocked.

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