EU countries to freeze assets of Russian oligarchs worth €13.8 bln

European Union Justice Commissioner Didier Reynders said ahead of the start of an informal meeting of EU justice ministers that EU countries have frozen Russian assets worth €13.8 billion, €12 billion of which have been blocked by five countries.

The commissioner did not specify which countries had secured the most assets. He announced that he would urge other member countries to do the same.

Reynders said he hoped that once regulations are agreed upon in all member states, it will be possible to initiate legal proceedings and seize Russian assets. 

"If this happens, the money will go into a joint fund for the benefit of the Ukrainian people," he said.

(PAP)