The German authorities currently have around €3.9 bln of frozen Russian assets under the EU sanctions, according to the press service of the German Ministry of Finance, Ednews reports via TASS.

The ministry said in response to a request from TASS that this figure includes frozen assets of individuals and legal entities included in the sanctions list, such as cash, corporate investments, and yachts. At the same time, it also includes assets of the Bank of Russia. However, the figure is subject to market fluctuations and also depends, for example, on the exclusion of individuals from the lists of the European Union, the ministry emphasized.

Governor of the Bank of Russia Elvira Nabiullina said at the end of March that if the West uses frozen Russian assets, the Bank of Russia will take appropriate measures to protect its interests.

Russian presidential spokesman Dmitry Peskov said earlier that European banks understand the catastrophic consequences that will stem from expropriating Russia's assets, as the fallout will indeed be huge. "The legal service of any bank understands the catastrophic consequences of such activity in confiscating assets. If such decisions are implemented, this will entail very serious consequences for those who took them and those who implemented them," Peskov said.

Earlier, Reuters reported citing sources that European banks were lobbying Brussels to forget about tapping Russia’s frozen assets. The EU is considering introducing a tax close to 100% on Russian assets frozen after the start of the special operation in Ukraine. The funds received will go directly to the European Commission, which intends to subsequently transfer them to Kiev. German Chancellor Olaf Scholz supported the decision, explaining that, in his opinion, these funds do not belong to anyone - and therefore can be used to buy weapons and ammunition for Ukraine.