We continue to investigate the process of confiscation of Russian assets in Ukraine and around the world
Here is our selection of the most significant events of this week:
- Norway has joined the 10th EU sanctions package against Russia. The adopted sanctions mirror the tenth EU sanctions package of 25 February 2023 with some changes. Norway has added 87 more individuals and 34 more legal entities to the sanctions list. The country's sanctions list now includes 1678 individuals and entities. Restrictions include a ban on imports and price caps on crude oil and oil products. In February, Russian tax revenues from the oil and gas sector fell by 46% compared to pre-war levels.
- Montenegro refuses to transfer frozen Russian assets to Ukraine. Milan Knezevic, chairman of the Security and Defence Committee of the Montenegrin parliament, said that the transfer of Russian assets frozen in Montenegro to Ukraine is impossible. The MP noted that Podgorica has already lost a lot in economic terms due to anti-Russian measures, and relations between the two countries are quite close historically due to Russian investments.
- The aid to Ukraine from the sale of Chelsea is delayed due to the delayed approval process. The fund to help Ukraine, which will accumulate the 2.34 billion pounds ($2.9 billion) raised from Roman Abramovich's sale of Chelsea football club, is almost ready to launch and has already chosen a chairman, but UK government approval is taking longer than expected. Abramovich, a Russian businessman worth more than $7.5 billion, sold the London football club in May 2022 after being sanctioned by the United Kingdom and the European Union. Almost a year after the sale, the funds remain frozen in a bank account in the UK.
More information on the situation with the confiscation of Russian assets can be found on our confiscation tracker, an interactive website that displays up-to-date information on amounts, legislation, court decisions, and political positions of countries on confiscation.
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