Czech Republic to Freeze All Russian State Assets

The Czech government has backed Foreign Minister Jan Lipavsky's proposal to freeze all Russian state assets on Czech territory, Lipavsky said on Twitter (X).

"On my proposal, the government today approved the freezing of Russian state assets in the Czech Republic. This puts an end to the commercial activities through which Russia finances the murder of Ukrainians," he wrote.

The minister did not specify the size and timing of the decision.

At the same time, according to Novinky, Lipavsky said at a press conference that the Czech sanctions list would include the Russian federal enterprise for managing assets abroad, Goszagransobstvennost, under the Presidential Administration.

"The company is a legal entity that finances the Russian regime, which is killing civilians in Ukraine," he commented.

The Czech Republic's chief diplomat pointed out that the real estate properties associated with Goszagransobstvennost are located mainly in Prague and Karlovy Vary. The company's financial accounts and property in the land registry will be frozen so that it will not be able to sell the property.

Lipavsky's Ukrainian counterpart, Ukraine's Foreign Minister Dmytro Kuleba, has already thanked the Czech Republic for the move.

"The Czech Republic has just frozen all Russian state assets. I welcome this principled step and thank my colleague and friend Jan Lipavsky. All countries that have not yet done so should follow suit. Russian money should be used to rebuild Ukraine, not to kill and destroy," he wrote on Twitter.

In total, the Czech Republic has frozen 415 million euros worth of sanctioned assets.

The Czech Republic also has a national sanctions list against Russia. It includes, among others, Patriarch Kirill of the Russian Orthodox Church, Russian oligarch Vladimir Yevtushenko and his son, and Russia's chief rocket scientist Boris Obnosov and his son, who live in Prague.

As previously reported by The Gaze, the Czech government is stepping up efforts to crack down on companies that violate EU sanctions against Russia by exporting and importing goods through third countries. The Czech Customs Administration has identified about 40 cases of sanctions violations, often via Turkey or post-Soviet republics.

In addition, the Czech Senate has decided to extend the mandate for combat training of the Ukrainian military on its territory until the end of 2024.