UK Parliament: Q&A On Russia Assets
Minister of State Stephen Doughty affirmed that the UK’s Overseas Territories have fully implemented sanctions against Russia and “have frozen assets worth approximately US $9 billion.”
During the British Parliament’s session on October 28th, Chair of the Defence Committee Tan Dhesi asked the Secretary of State for Foreign, Commonwealth and Development Affairs for a :recent estimate of the value of Russian owned assets held in the Overseas Territories.”
In response, Minister of State Stephen Doughty said, “The Overseas Territories [OTs] stand with the UK in condemning Russian aggression in Ukraine. The OTs have committed to implement UK sanctions in full.
“The Governments of the Territories take seriously their responsibility for the implementation and enforcement of sanctions within their jurisdictions. The Territories have frozen assets worth approximately US $9 billion. OT Governments have informed us that the vast majority of these assets belong to persons designated under the Russia sanctions regime.”
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