Czech Republic freezes Russian assets worth around €350 million

Czech Ambassador to Ukraine Radek Matula reported that the Czech Republic had frozen €347.36 million in assets related to Russian sanctions.

During a meeting with the head of the Ukrainian Agency for Search and Asset Management (ARMA) on August 15, Czech Ambassador to Ukraine Radek Matula reported that the Czech Republic had frozen €347.36 million in assets related to Russian sanctions. In particular, the two parties talked about ways to improve cooperation between ARMA and their Czech counterparts in asset management, asset search, and asset detection. Matula emphasized that Czech law enforcement services are actively tracking information about Russians who have been subject to sanctions and reiterated Prague’s support for Ukrainian membership in the EU and NATO.

To make sure they are effectively used and protected, ARMA is in charge of locating and managing assets that are the subject of criminal proceedings. Preventing illegal earnings and assisting judicial proceedings are its two main objectives. The Court was successful in seizing 277 cars, 136 properties, 42 packages of corporate rights, and 537 works of art during the course of the previous year. A contribution of 25.8 billion UAH (about $700,000) was given to the Fund for Addressing the Consequences of Russian Armed Aggression after this confiscation.

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