Germany Seizes Hundreds Of Millions Of Euros From Russian Bank

Because of a violation of the prohibition against disposing of funds.

The Higher Land Court in Frankfurt am Main has initiated a case to confiscate 720 million euros from the account of a Russian bank that fell under European sanctions in 2022.

As "Deutsche Welle" reports, citing court documents, the case was initiated by the German Federal Prosecutor's Office. The name of the bank was not disclosed. The date of the hearing has not yet been set.

According to the court, the confiscation procedure was caused by a violation of the ban on the disposal of funds frozen in connection with Russia's war of aggression against Ukraine: the bank tried to withdraw the funds, but the operation was rejected. In this connection, a case was opened on suspicion of violating the ban on the disposal of frozen funds.

Merz supported the idea of using frozen assets of the Russian Federation

The Chancellor of the Federal Republic of Germany Friedrich Merz (Friedrich Merz) supported the idea of using the frozen assets of the Russian Central Bank to provide Ukraine with interest-free loans totaling 140 billion euros. They should be used exclusively to finance the defending country's military equipment.

Ukraine will have to repay the loans only after Russia pays it all reparations, Merz stressed in a government statement to the Bundestag.

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