Putin authorises freezing assets of foreign entities, individuals sanctioned in Russia

Russian President Vladimir Putin on August 4 signed into law amendments that update response to Western sanctions, authorizing authorities to freeze financial assets of foreign entities and individuals sanctioned in the country.

The amendments complement rules for the application of special economic measures aimed at prohibiting or restricting financial transactions and freezing funds and other property of sanctioned entities and individuals, Anadolu reports.

Gamblers, pawnshops, organisations performing the functions of a payment agent, credit cooperatives, and microfinance organizations, among others, are prohibited from carrying out financial operations with sanctioned organizations and people.