$58 bil. worth of sanctioned Russians' assets frozen or blocked by US, others

A multinational task force says its members have blocked or frozen more than 58 billion dollars' worth of assets owned by wealthy Russians and other individuals subject to sanctions.

The US Treasury Department on Thursday disclosed a statement released by the task force.

The group was set up by the United States, Japan, the European Union and others, with the aim of cutting off funding for Russia.

Since Russia began its invasion of Ukraine over a year ago, sanctions have been imposed on oligarchs who are close to President Vladimir Putin's administration, as well as on senior members of Putin's government.

The statement says the task force has seized or frozen financial accounts, luxury real estate, yachts and other assets which were owned, held or controlled by the sanctioned Russians.

It says assets worth 5.4 million dollars have been forfeited, and the funds will be transferred to assist Ukraine.

The task force members say they will "redouble efforts to hold Russia accountable for its unjust war, countering Russian efforts to undermine, circumvent, or evade" their collective sanctions.