Russian real estate confiscated in Germany

As part of EU sanctions after fighting Russian aggression against Ukraine, Russian-owned real estate has been seized in Germany for the first time. It's basically about three residences belonging to a sanctioned MP of Duma and his wife.

The bank account in which the rents are paid has also been confiscated, said the chief prosecutor conducting the Leiding investigations in Munich, in charge of the investigation. According to knowledge thus far, this is the first case in all of Germany where assets have not only been frozen due to sanctions, but real real real estate has been seized, Leiding stressed, DW reports.

Recently, the number of assets of Russian oligarchs seized across the EU has been much higher than at the start of sanctions. A European Commission spokesman told the newspaper “Welt” that the amount has almost doubled since April, down from 6.7 billion euros to more than 12.5 billion euros.

This increase concerns the fact that many assets in Germany were found and blocked, became known.

German Finance Minister Christian Lindner said last week that he had frozen Russian assets worth about 4.5 billion euros. These are central bank assets, capital gains in companies, and boats and yachts.