INSUBCONTINENT EXCLUSIVE:
German federal prosecutors said Wednesday they aim to seize hundreds of millions of euros from an unnamed Russian bank as part of a Western
crackdown over Moscow's invasion of Ukraine.The federal public prosecutor's office said in a statement it had filed a motion before a court
in the German financial capital Frankfurt requesting "independent confiscation proceedings.""The aim of these proceedings is to seize more
than 720 million euros ($789 million) deposited by a Russian financial institution in a bank account in Frankfurt am Main due to a suspected
attempt to violate embargo regulations" under German law, it said.In June 2022, the EU placed the Russian bank on a sanctions list,
prosecutors said, adding that they had already filed the court motion in July
The statement on Wednesday followed media reports about the legal action."As a consequence, any assets of the entity deposited with European
financial institutes could no longer be subject to transactions, but were 'frozen'," they said in the statement.
