A court in Germany has opened proceedings to seize more than 720 million euros from a Russian bank.

In Germany, by decision of the Prosecutor General's Office, the Supreme Land Court in Frankfurt am Main opened proceedings against one of the unnamed Russian banks in order to withdraw more than 720 million euros of funds frozen in connection with anti-Russian sanctions. This was reported on the court's website on October 16.

"The purpose of the proceedings is to confiscate the balance in the account of a Russian financial institution with a bank in Frankfurt am Main in the amount of more than 720 million euros," the statement said.

The news is being updated