The Russian Elite, Proxies and Oligarchs (REPO) Task Force has blocked or frozen more than $30 billion worth of assets of sanctioned Russians in its 100 days of operation. In addition, REPO has been able to freeze or seize high-value goods belonging to sanctioned individuals and significantly limit their access to the international financial system.
The task force was created in mid-April to maximise the impact of sanctions on designated persons and entities supporting Russia’s aggressive war against Ukraine. Under REPO, the EU operates jointly with the G7 countries: Canada, France, Germany, Italy, Japan, the UK and the US, as well as Australia.
Through close and extensive national and international coordination and collaboration, REPO members have:
- Blocked or frozen more than $30 billion worth of sanctioned Russians’ assets in financial accounts and economic resources.
- Immobilised about $300 billion worth of Russian Central Bank assets.
- Seized, frozen, or detained yachts and other vessels owned, held, or controlled by sanctioned Russians, including the Amadea, the Tango, the Amore Vero, the Rahil, and the Phi.
- Seized or frozen luxury real estate owned, held, or controlled by sanctioned Russians.
- Restricted Russia’s access to the global financial system, making it more difficult for Russia to procure technology necessary to sustain its unjust war in Ukraine.
REPO members say they will continue to monitor sanctioned Russian assets over the coming months and will not allow them to undermine jointly introduced restrictive measures.
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