Germany confiscates hundreds of millions of euros from a Russian bank
18 October 10:42
The Higher Land Court in Frankfurt am Main has opened proceedings to confiscate 720 million euros from the account of a Russian bank that was subject to European sanctions in 2022.
This was reported by "Komersant Ukrainian" with reference to DW.
The proceedings were initiated by the Federal Prosecutor’s Office of Germany. The name of the bank is not disclosed. The date of the hearing has not yet been determined.
According to the court, the confiscation procedure is caused by a violation of the ban on the disposal of funds frozen due to Russia’s aggressive war against Ukraine: the bank tried to withdraw funds, but the transaction was rejected. In this regard, proceedings were opened on suspicion of violating the ban on the disposal of frozen funds.
Merz supports the idea of using frozen assets of the Russian Federation
As a reminder, German Chancellor Friedrich Merz supported the idea of using the frozen assets of the Central Bank of Russia to provide Ukraine with interest-free loans totaling €140 billion. The loans should be used exclusively to finance military equipment for the country’s defense.
Ukraine should repay the loans only after Russia pays all reparations to it, Merz emphasized in a government statement in the Bundestag.
