Overview

• The Oberlandesgericht Frankfurt launched a special seizure procedure targeting roughly €720 million linked to a Russian financial institution.
• The case stems from a suspected breach of the EU disposal ban on sanctioned assets following Russia’s attack on Ukraine.
• The funds correspond to the bank’s account balance at a Frankfurt institution and remain frozen after a blocked electronic transfer attempt shortly after the 2022 listing.
• The matter is assigned to the OLG’s 8th Criminal Senate of five judges, and no date has been set for the main hearing.
• If the court orders seizure, the money would go to the state treasury, while wider debates continue as the chancellor has voiced support for directing seized Russian assets to Ukraine.