Washington and its allies have frozen $330 billion in Russian assets

The US Treasury said the United States and its allies have frozen $330 billion in Russian assets since the conflict in Ukraine began.

In the details, Western allies froze $30 billion in assets owned by Russian wealthy or elites who are subject to sanctions and “frozen” about $300 billion from the Russian Central Bank, according to a statement issued by the Western Allies’ Action Unit responsible for tracking Russian elite assets. .

At least five luxury yachts and real estate owned or controlled by Russian nationals were also seized and sanctioned.

"Together, we will ensure that sanctions will continue to impose heavy costs on Russia for its unjustified and prolonged aggression against Ukraine," the statement said.

The Action Unit was formed on March 17, three weeks after Moscow's invasion of Ukraine began to increase economic pressure on Russia.

It includes senior officials in the ministries of finance or justice in the United States, Australia, France, Canada, Germany, Japan, Italy, Britain and the European Commission.

The unit's mission lies especially in targeting luxury real estate and mega yachts for Russian billionaires close to Vladimir Putin.

Business unit members are trying to isolate Moscow from the global financial system and have limited Russia's ability to acquire modern technology.

 On the first day of their summit in Germany, G7 leaders announced a ban on freshly mined gold in Russia to prevent Moscow and the country's ruling minority from using the precious metal to circumvent sanctions.

In its statement, the unit warned that it would continue to track the assets of the Russian elites, and declared that "the mission of the business unit is not over. We continue to increase the cost of war on Russia."

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