16:52 29.06.2022

US-created REPO intl group blocks Russian assets worth $30 bln - US Treasury

1 min read
US-created REPO intl group blocks Russian assets worth $30 bln - US Treasury

An international group set up by the United States to search for Russian assets has taken measures to freeze or block assets of the Russian Federation in the amount of more than $30 billion, the US Department of the Treasury reports.

"The Russian Elites, Proxies, and Oligarchs (REPO) Task Force has leveraged extensive multilateral coordination to block or freeze more than $30 billion worth of sanctioned Russians’ assets, freeze or seize sanctioned persons’ high-value goods, and heavily restrict sanctioned Russians’ access to the international financial system. REPO members have achieved these successes through close and extensive national and international coordination and collaboration," the agency said.

"REPO members have blocked or frozen more than $30 billion worth of sanctioned Russians’ assets in financial accounts and economic resources, immobilized about $300 billion worth of Russian Central Bank assets," the report says.

REPO also includes representatives from Australia, Britain, Germany, Italy, Canada, France, Japan and the European Commission.

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