Freezing of Assets

(asked on 7th February 2024) - View Source

Question to the HM Treasury:

To ask His Majesty's Government what foreign state assets are currently frozen by the UK; and in each case, what is the (1) country, (2) value, and (3) reason.


Answered by
Baroness Vere of Norbiton Portrait
Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
This question was answered on 21st February 2024

The Office of Financial Sanctions Implementation (OFSI) undertakes an annual review of frozen assets in the UK, requiring all persons or institutions that hold or control frozen assets in the UK to report to OFSI. As stated in OFSI’s most recent Annual Review published in December 2023, as of September 30th 2022 £21.6 billion in frozen funds were reported to OFSI. This figure is provided in aggregate so as not to disclose the value of any funds held by particular individuals. HM Treasury does not break down reported assets in the manner requested.

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