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Austria blocks 254 million euros asset Russians

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Austrian authorities froze € 254 million ($ 268 million) in assets belonging to the wealthy Russian elite in response to EU sanctions against Russia.

The Vienna Chancellery announced on Sunday that the funds have been registered in 97 accounts, according to a report from the local ORF channel.

The chancellery added that authorities also found five accounts in the land registry, believed to have been used to hide assets.

In search of Russian origins

In turn, Austrian Chancellor Karl Nehammer said: “If members of Russia’s wealthy elite or their organizations support the war against Ukraine, they are complicit in the atrocities that take place there.”

“With these measures, we are hitting businessmen and the wealthy elite for what hurts them: their money,” he added.

According to the channel, the search for Russian assets is being carried out by a working group within the State Security and Intelligence Department of the Interior Ministry, among other departments.

A new reporting system will be launched at the end of May to facilitate the search for these asset.

Interestingly, the German finance ministry opposed the confiscation of Russian property in favor of Ukraine.

The European Commission had previously reported that the total number of persons and entities on the EU sanctions lists since 2014 was 1,091 and 80 respectively.

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