UK Leads Charge Freezing £48 Billion Russian Assets
Since Putin’s invasion of Ukraine, the Russian Elites, Proxies and Oligarchs Taskforce (REPO) has swooped worldwide, blocking or freezing over £48 billion in Russian assets. The UK alone has frozen more than £18 billion, making it the top enforcer on Russian sanctions.
Security Minister Hails Taskforce Success
Security Minister Tom Tugendhat met with REPO on 9 March 2023 to review progress. After the meeting, he declared:
“The UK continues to play a leading role in holding 1 to account for its unprovoked war of aggression against Ukraine.
Alongside our allies in the Russian Elites Proxies and Oligarchs Task Force, we have blocked or frozen more than £48 billion worth of Russian assets, putting unprecedented financial pressure on Putin and his cronies.
Together we stand united in defending global democracy and fighting against authoritarianism. There is more to come.”
Global Allies Crack Down on Putin’s Rich
The taskforce includes heavyweights like Australia, Canada, France, Germany, Italy, Japan, the US, and the European Commission. They unite to squeeze sanctioned Russians like never before.
New Guidance to Stop Sanctions Evasion
At the meeting, REPO members agreed on a joint statement highlighting achievements and renewing commitment to sanction enforcement. They also released a global advisory to help banks and private companies spot and block Russian sanctions evasion tactics.
