Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what the value is of assets frozen under the Russia regime that were (a) Russian state assets held by sanctioned (i) Russian and (ii) commercial banks and (b) other state assets and foreign currency reserves held as, but not limited to, securities or deposits in Pound Sterling in the period since the invasion of Ukraine on 24 February 2022.

Between February and October 2022, £18.39 billion in frozen funds were reported to the Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, in relation to the Russia sanctions regime. 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.

An updated value of frozen assets reported to OFSI will be published later this year, in OFSI’s 2022-2023 Annual Review, in Autumn 2023.