According to European Union statistics, Belgium came at the forefront as it froze 3.5 billion euros of Russian assets, followed by Luxembourg with 2.5 billion, Italy with 2.3 billion and Germany with 2.2 billion.
As for Ireland, Austria, France and Spain, they each lost more than one billion euros, according to data announced by November 25.
The European Union has imposed several packages of unprecedented sanctions on the Russian economy since Moscow began its military operations in Ukraine in February.
While a number of members of the 27-nation bloc have reported targeting large sums, others are still far behind.
And at the bottom of the list is Malta, which has the controversial “golden passport” scheme for wealthy investors, including Russians, as it froze only 146,558 euros.
Greece comes in second place with frozen balances of 212,201 euros.
In total, 1,241 individuals and 118 entities are subject to sanctions, including asset freezes and entry bans, for their role in the conflict in Ukraine.
Brussels reminded member states that freezing the assets of individuals and entities subject to sanctions is mandatory, as well as providing data related to them.
“However, the information provided and the frequency of updates remain uneven among member states,” the letter noted, adding, “This undermines our joint efforts.”
The European Union is currently studying proposals for ways to use frozen Russian assets to help pay for Ukraine’s reconstruction.
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