Estonia freezes approximately 20,8 mln euros russian assets

As at the end of September, 763 notifications had been submitted to the Estonian Financial Intelligence Unit about the application of a sanction or suspicion of such a situation. On the basis of EU sanctions imposed against Russia, nearly EUR 20.8 million have currently been frozen in Estonia.

More than half of the notifications regarding the application of international financial sanctions have been submitted by credit institutions. Pursuant to law, the sanctions must be applied and reported by all natural and legal persons in Estonia, including private companies, lawyers, notaries, and registrars.

The Financial Intelligence Unit assesses the legality of the measures applied on a daily basis. Authorisations will also be granted, upon request, for exemptions made possible by the legislation establishing the sanctions. The total volume of frozen funds is affected by the use of exceptions and receipts from sanctioned parties to cover the transactions allowed by the exemption.

Source: FIU Estonia