Cayman Islands financial institutions freeze $7.3 billion worth of Russian assets

Financial institutions of the Cayman Islands, a self-governing British Overseas Territory, have frozen $7.3 billion worth of Russia-related assets, complying with sanctions, imposed by London, the Cayman Compass website reported Friday.

According to the website, Cayman authorities established a working group that will make decisions on implementation of anti-Russian sanctions, which includes representatives of the governor, financial system, civil aviation and maritime transport. The group will convene weekly.