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Brussels, 17 March 2022

Enforcing sanctions against listed Russian and Belarussian oligarchs: Commission’s “Freeze and Seize” Task Force steps up work with international partners

The European Commission’s ‘Freeze and Seize’ Task Force, set up to ensure EU-level coordination to implement sanctions against listed Russian and Belarussian oligarchs, has now stepped up its action at international level.  It will work alongside the newly established ‘Russian Elites, Proxies, and Oligarchs (REPO)’ Task Force, under which the EU operates together with the G7 countries Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as Australia.

Cooperation between the European ‘Freeze and Seize’ Task Force and the international ‘REPO’ Task Force is essential to guarantee the efficiency of the sanctions taken on both sides of the Atlantic. The Commission is committed to work closely and coordinate with its partners to ensure effective cooperation on a global level.

Commissioner for Justice, Didier Reynders, said:

“This coordination will make the prosecution of the listed Russian and Belarussian oligarchs in the Union a concrete possibility. Such initiatives are vital to achieve the rapid freezing and confiscation of the assets owned by individuals and entities targeted by the sanctions. We must therefore continue to step up our work together to identify oligarchs who help finance or organise actions in Ukraine, or who pursue illegal activities on the territory of the Union. Our joint action can make a difference globally. It truly shows solidarity and unity in the face of war”.

Commissioner for Financial Services, Financial Stability and Capital Markets Union, Mairead McGuinness, emphasised that:

“Our combined measures are having a significant impact – the Russian economy is in free fall.  G7 Justice and Finance Ministers committed to the important task of identifying entities and individuals listed across jurisdictions. We need to ensure that those who provide services – financial, legal and others – to oligarchs to facilitate sanctions evasion are fully aware of the risks they run. We will investigate any and all efforts to breach our sanctions legislation and there will be consequences for violations. The focus of our work is to stop money flowing to the Russian war machine. Wealthy oligarchs supporting the Russian war machine need to know that they will not find any safe haven in the EU or elsewhere”.


The ‘Freeze and Seize’ Task Force was set up by the European Commission to ensure the efficient implementation of the EU sanctions against listed Russian and Belarussian oligarch across the EU.

The ‘Freeze and Seize’ Task Force is composed of the Commission, national contact points from each Member State, Eurojust and Europol as well as other EU agencies and bodies as necessary. It will coordinate actions by EU Member States, Eurojust, Europol and other agencies to seize and, where national law allows provides for it, confiscate assets of Russian and Belarussian oligarchs. While the Commission provides strategic coordination, Eurojust and Europol are best placed to ensure operational coordination. The first meeting of the ‘Freeze and Seize’ Task Force took place on 11 March and was chaired by Commissioner Reynders.

Member States explained the measures already taken, the situation on ongoing judicial proceedings and the possibilities for the confiscation of assets under the appropriate legal bases. The first meeting was welcomed by all EU Member States. On 18 March, a second meeting will take place where the participating parties will further discuss their coordination. The Task Force is set to meet weekly. However, the Task Force will reassess this need and will convene other meetings as necessary.

Within the remit of EU sanctions, all assets belonging or controlled by listed persons must be frozen. Today 877 individuals and 62 entities are subject to an asset freeze under EU sanctions in the context of the Russian aggression to Ukraine.

The ‘Freeze and Seize’ Task Force will play an important role in information sharing within the EU and it aims to go one step further: it will coordinate actions by Member States to seize and, where the national law calls for it, confiscate assets of the listed Russian and Belarussian oligarchs. For this purpose, the Task Force will seek coordinated actions between Member States, Eurojust, Europol and other agencies as necessary.

In addition to the European Task Force, there is also the ‘Russian Elites, Proxies, and Oligarchs (REPO)’ Task Force. On Wednesday, 16 March, a ministerial meeting decided on the creation of this international Task Force to ensure the effective implementation of the sanctions, to assist other cooperating nations to locate and freeze assets and to determine the possibility to forfeiture the frozen assets. The participants are the G7 countries, Australia and the European Union.

For More Information

Joint Statement on the ‘REPO’ Task Force

EU sanctions against Russia following the invasion of Ukraine | European Commission (

Also see our REPO report (16/3): FinCEN Supports Task Force Targeting Russian Elites, Proxies, And Oligarchs (REPO)


17 March 2022Brussels

Ministerial Joint Statement on the Russian Elites, Proxies, and Oligarchs Task Force by the European Commission, the United States, Australia, Canada, France, Germany, Italy, Japan and the United Kingdom

17 March 2022

“We, the undersigned Finance, Justice, Home Affairs, and Trade Ministers and European Commissioners, jointly commit to prioritizing our resources and working together to take all available legal steps to find, restrain, freeze, seize, and, where appropriate, confiscate or forfeit the assets of those individuals and entities that have been sanctioned in connection with Russia’s premeditated, unjust, and unprovoked invasion of Ukraine and the continuing aggression of the Russian regime.

Russia’s latest invasion of Ukraine represents a further assault on the fundamental norms and laws, including the UN charter, that underpin the international order.  By working together to hunt down the assets of key Russian elites and proxies and to act against their enablers and facilitators, we take a further step to isolate them from the international financial system and impose consequences for their actions, and we encourage other countries to also take up this critical effort.

The Task Force that we have launched today demonstrates our unwavering support for Ukraine and our collective resolve and joint commitment to holding accountable those who have complicity in Russia’s unjust war. We are determined to deny them the ability to hide and benefit from their assets in all jurisdictions and to undermine the integrity of the international financial system.

The Honorable Janet L. Yellen, Secretary of the Treasury, United States

The Honorable Merrick B. Garland, Attorney General, United States

The Honorable Dan Tehan MP, Minister for Trade Tourism and Investment, Australia

The Honorable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, Canada

Bruno Le Maire, Minister for Economy, Finance and Recovery, France

Eric Dupond-Moretti, Minister of Justice, France

The Honorable Christian Lindner, Federal Minister of Finance, Germany

The Honorable Robert Habeck, Federal Minister for Economic Affairs and Climate Action, Germany

Minister of Justice Marta Cartabia, Italy

Minister of Economy and Finance Daniele Franco, Italy

The Honorable NINOYU Satoshi, Chairperson of the National Public Safety Commission, Japan

The Honorable FURUKAWA Yoshihisa, Minister of Justice, Japan

The Honorable SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services, Japan

The Right Honorable Priti Patel MP, Secretary of State for the Home Department, United Kingdom

The Right Honorable Rishi Sunak MP, Chancellor of the Exchequer, United Kingdom

Didier Reynders, European Commissioner for Justice

Mairead McGuinness, European Commissioner for financial services, financial stability and Capital Markets Union

Source – EU Commission