Freezing of Assets: Russia
The question
To ask the Chancellor of the Exchequer, with reference to the Annual Review of the Office for Financial Sanctions Implementation 2023-24, published on 21 March 2025, how much and what proportion of frozen Russian assets are owned by (a) the Russian state central bank and (b) private individuals.
Answered by Emma Reynolds
The Office for Financial Sanctions Implementation (OFSI), part of HM Treasury published in its annual review that £25.03 billion in assets relating to the Russia sanctions regime have been reported as frozen between February 2022 and December 2024. This is an aggregated total of all entities and individuals listed on the Consolidated List of Financial Sanctions Targets, known as Designated Persons.
Assets belonging to the Central Bank of Russia, the National Wealth Fund of Russia, or the Ministry of Finance of Russia, known as Prohibited Persons, are not subject to an asset freeze, but have been immobilised as a result of UK sanctions that prohibit the provision of financial services.
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