Germany will introduce assets register to strengthen sanctions against Russian oligarchs

Germany plans to introduce an assets register to make sanctions against money of unclear origin more effective — including Russian oligarch assets — German Chancellor Olaf Scholz announced during a speech at a Financial Action Task Force (FATF) conference on money laundering, reports citing Unian.

“Russia's aggression against Ukraine has exposed that sanctions need to be more effective, especially against oligarchs abroad," Scholz said on Tuesday in Berlin.

Germany will facilitate whistleblowing by establishing a special hotline, Scholz said.

“Russia's war against Ukraine marks a watershed for all of us because it threatens the global order itself,” Scholz reiterated.

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