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So far, 24.1 billion euros worth of Russian property has been seized in the EU from persons covered by European sanctions, a spokesman for the European Commission announced, quoted by BTA.

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He noted that negotiations continue between the EU countries on how to deal with this property, because there are legal obstacles to its confiscation.

According to him, it is planned that the property of the Russian Central Bank will be used for the acquisition of profit.

Russian assets worth over 5 billion euros have been blocked in Germany

The EU sanctions due to the war in Ukraine provide for the seizure, but not the direct confiscation, of Russian property due to the lack of the relevant European legislation.

The EC proposed to make evasion of sanctions a European crime, negotiations on this issue are progressing, the spokesman added. 

The EU is encouraging Georgia, which expects to become a candidate to join the Community, to comply with European sanctions that ban flights from, to and over Russia, he said.

According to him, the Georgian authorities are expected to watch for attempts to circumvent the sanctions and not to allow unsafe Russian planes into their airspace.

Due to the sanctions imposed on Russia, 95 percent of the civil aircraft used by the country do not pass the mandatory maintenance, the spokesperson explained.

Georgian citizens are considering whether to take advantage of visa waivers for travel to Russia, he added.

Russian invasion of Ukraine


European Union

seizure of property