Assets are under lock and key: They took away all state real estate of the Russian Federation in the Czech Republic

While the European Union is considering how to transfer the gold and foreign currency reserves of the Central Bank of Russia (CB), which were frozen after the all-out invasion of Russia, to Ukraine without violating international law, the allies continue to deprive Ukraine. aggressive money country. Thus, on November 15, the Czech government decided to freeze all Russian state assets. In this respect reported Prime Minister Petr Fiala.

Important

According to him, thanks to this decision, the Russian Federation will lose the opportunity to dispose of real estate belonging to a state institution of the country.

His message said, “The property cannot be transferred or sold. Russia will not be allowed to use the bank accounts from which the rent of this property is received.”

He emphasized that other countries of the European Union should do the same and that the Czech Republic will insist on this.

According to the CTK news agency, we are talking about all State Foreign Ownership assets in the Czech Republic. Additionally, any commercial activity of this enterprise is prohibited on the territory of the country. For example, renting real estate is now considered illegal.

At the same time, the head of the Czech Foreign Ministry, Jan Lipavsky, told officials that it was he who proposed freezing Moscow’s assets in the country. At the same time, as journalists noted, Russia has real estate in Prague and Karlovy Vary. The people and companies that own this property will continue to use it, but the rent will be transferred to an account that Russian authorities cannot access.

“This is where Russia’s business financing Ukrainian murders ends,” he said.

How much Russian money was frozen by Ukrainian partners?

At the beginning of 2023, Bloomberg reported that the total amount of assets frozen by the Central Bank of Russia in the EU and G7 countries was as follows: 300 billion euros. At the same time, 200 billion goes to the European Union countries.

The head of the Russian Ministry of Finance stated that due to sanctions of the European Union, the United States and other countries, Russia has lost access to almost half of its gold and foreign currency reserves. Kiev has repeatedly called on its partners to give up frozen Russian assets for the restoration of Ukraine. In June 2023, European Commission president Ursula von der Leyen confirmed that the European Commission continues to work to seize the attacker’s assets through legal means.

Alexander Khara, also a foreign policy and security expert, said in September: Focus, Why will the European Union have to agree to transfer the frozen funds of the Russian Federation to Ukraine?

Important

“If the same regime remains in the Russian Federation after our victory, other non-democratic countries will know that they will not bear any financial responsibility for military conflicts.

“And if a mechanism emerges to seize state funds and transfer them to the injured party, it will be possible to at least partially compensate for the losses incurred as a result of possible aggression,” he said.

Previously, the Ministry of Justice said that the EU had already found a way to compensate for the damage caused to Ukraine at the expense of frozen Russian assets. In particular, the allies want to give the profits from Russian financial instruments in Europe to our country.

Note that in July 2023, Assistant U.S. Attorney Lisa Monaco said the country had frozen assets of Russian oligarchs and others worth more than $1 billion.