Jersey freezes £259 million worth of Russian Assets

Jersey States build
There have been more than 800 asset freezes after sanctions were introduced following the invasion of Ukraine. Credit: ITV Channel TV.

It has been revealed that £259 million worth of Russian Assets have been frozen in Jersey.

Senator Ian Gorst told the States this morning (Tuesday 29 March) that there have been more than 800 asset freezes after sanctions were introduced following the invasion of Ukraine.

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However, he was not able to give the breakdown of the cash and property concerned.

Ian Gorst said: "We must remind ourselves that sanctions are a political tool, in effect an economic war against the Putin regime.

"There is no indication that the money that is managed by Jersey firms and is the subject of sanctions has done anything inappropriate."