In March 2022 the Russian Elites, Proxies, and Oligarchs Task Force (REPOTF) was set up between the EU, G7 countries, and Australia.[1][2] The signatories pledged to:

jointly commit to prioritizing our resources and working together to take all available legal steps to find, restrain, freeze, seize, and, where appropriate, confiscate or forfeit the assets of those individuals and entities that have been sanctioned in connection with Russia’s premeditated, unjust, and unprovoked invasion of Ukraine and the continuing aggression of the Russian regime. “Russia’s latest invasion of Ukraine represents a further assault on the fundamental norms and laws, including the UN charter, that underpin the international order. By working together to hunt down the assets of key Russian elites and proxies and to act against their enablers and facilitators, we take a further step to isolate them from the international financial system and impose consequences for their actions, and we encourage other countries to also take up this critical effort.

History

On 11 August 2022, the REPOTF announced it had seized $30bn in assets.[3]

By 24 February 2023, the anniversary date of the 2022 Russian invasion of Ukraine, the REPOTF had "Blocked or frozen more than $58 billion worth of sanctioned Russians’ assets in financial accounts and economic resources."[4][5][6][7]

References

  1. ↑ Pingen, Anna (21 June 2022). "EU's "Freeze and Seize" Task Force Tackles Oligarchs' Money". Max Planck Institute for the Study of Crime, Security and Law.
  2. ↑ "Russian Elites, Proxies, and Oligarchs Task Force – Ministerial Joint Statement". Bundesministerium der Finanzen. 18 March 2022.
  3. ↑ Pingen, Anna (11 August 2022). "REPO Task Force: More than $30 Billion Russians' Assets Froze". Max Planck Institute for the Study of Crime, Security and Law.
  4. ↑ "Statement on Russian Elites, Proxies, and Oligarchs Task Force results". Department of Finance Canada. 24 February 2023.
  5. ↑ "US and allies freeze over $58 bln of Russian assets over past year — REPO task force". TASS. 9 March 2023.
  6. ↑ "Sanctions Weekly Update – Ukraine/Russia Conflict – March 6, 2023". Mayer Brown. 6 March 2023.
  7. ↑ Hood, Andrew; Tauwhare, Richard (16 March 2023). "New UK, EU and US sanctions on Russia". fieldfisher.
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