Russians under sanctions fail to declare assets in line with German law

FILE PHOTO: Plastic letters arranged to read "Sanctions" are placed in front of Russian flag colors in this illustration taken February 25, 2022. REUTERS/Dado Ruvic/Illustration

BERLIN (Reuters) - None of the Russians targeted by European Union sanctions have declared their assets to German authorities as required to do under Germany's sanctions law, the German government said, prompting a call for the transparency regime to be tightened.

Some 4.28 billion euros in assets belonging to sanctioned oligarchs have been frozen in Germany since Russia's invasion of Ukraine, including 2.3 billion euros in deposits at German banks, according to the economy ministry.