Minister of State Pierre Dartout said on Thursday evening that Monaco is following EU procedures on sanctions related to the war in Ukraine and has frozen the funds of a number of Russian depositors.

However, he would not be drawn on the number of individuals whose banks accounts have been affected, nor would he divulge the total amount of money in question. These matters remain confidential, he said.

He said that energy and tourism were the most at-risk sectors during the current crisis.

Meanwhile in a 90-minute telephone call to President Macron that Putin initiated, the Russian president said that the worst is yet to come in the war, He said that he will go “all the way” after Ukraine refused to accept Russia’s conditions.

Putin indicated that his aim was to subdue all of Ukraine by diplomatic or military means as he seeks “neutralisation, demilitarisation and denazification” of Russia’s neighbour.

FILE PHOTO: Minister of State Pierre Dartout Monaco Government