France freezes twenty-two billion euros of Russian reserves

In mid-February, these funds accounted for about 4 percent of Russia’s gold and foreign exchange reserves.

The decisions were mentioned by French Economy Minister Bruno Le Maire euronews.

Earlier, Russian Finance Minister Anton Siluanov said that about half of Russia’s foreign exchange reserves are blocked due to sanctions. He added that this money is kept abroad so that they can pay in foreign currency.

Billions of dollars worth of yachts were also seized

The luxury yacht Valerie, worth 47 billion forints, has been temporarily booked in Barcelona. Pandora Papers investigators say the yacht is owned by former KGB officer Sergei Chemezov, who is currently the CEO of Russian technology company Rostec and has close ties to Vladimir Putin.

Billionaire Roman Abramovich’s Russian yacht, Solaris, hastily left Barcelona’s port before being seized. The yacht, valued at 207 billion forints, is currently in Montenegro.

Since the beginning of March, European Union countries have in turn seized the forks of Russian billionaires.

More Australian sanctions

Australia also announced additional sanctions against Moscow on Sunday.

The government has banned the export of alumina and aluminum ores, including bauxite, to Russia with immediate effect. This significantly limits Russia’s ability to produce aluminum.” Said Scott Morrison, Prime Minister of Australia.

However, Kambera promised to increase military and humanitarian aid to Ukraine.

The opening photo of Roman Abramovich’s giant yacht. Photo: SAVO PRELEVIC / AFP

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