“In the 100 days since Finance, Justice, Home Affairs, and Trade Ministers and European Commissioners committed to prioritizing resources and working together to isolate sanctioned Russians from the international financial system, REPO [Russian Elites, Proxies, and Oligarchs Task Force] 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 statement said.
The task force has promised to further track Russian sanctioned assets and prevent sanctioned Russians from undermining restrictions. “Together, we will ensure that our sanctions continue to impose costs on Russia for its unprovoked and continuing aggression in Ukraine and to prevent funds and economic resources from being provided to or for the benefit of designated persons,” the statement read.
On February 24, Russia launched a military operation in Ukraine after the breakaway republics of Donetsk and Lugansk appealed for help in defending themselves against Ukrainian troops. In response, the West rolled out a comprehensive sanctions campaign against Moscow, which includes airspace closures and restrictive measures targeting numerous Russian officials and entities, media and financial institutions.