Germany wants to confiscate more than 780 million dollars of Russian bank assets

The German government filed a lawsuit to confiscate $780 million worth of assets belonging to a Russian bank in Frankfurt.

German authorities want to seize 720 million euros ($787 million) in assets of a Russian bank, federal prosecutors said Wednesday.

An independent asset forfeiture case has been opened against the bank's assets in Frankfurt am Main.

The reason for the confiscation is an attempt to violate the current sanctions against Russia, the Federal Prosecutor's Office said in a statement. It is said that the bank tried to withdraw money to Russia.

According to the report, on July 7, the Federal Prosecutor's Office applied to the Higher Regional Court of Frankfurt am Main to open a case.

An unnamed Russian bank was placed on the European Union's sanctions list in June 2022. However, the people responsible for the Russian bank tried to siphon more than 720 million euros from Frankfurt shortly after it was listed. At the same time, the bank did not complete the electronic payment order.

In addition, German authorities have requested an independent asset forfeiture as no specific individuals can currently be prosecuted or convicted for this crime.