Luxembourg freezes EUR 5.5B of Russian assets

Luxembourg freezes EUR 5.5B of Russian assets

Ukrinform
Luxembourg has frozen EUR 5.5 billion belonging to Russian individuals and legal entities, which is about a third of all Russian assets blocked on the territory of the European Union.

As reported by Ukrinform with reference to APA, this was stated by the Minister of Foreign Affairs of Luxembourg Jean Asselborn during his address to parliament on Tuesday.

"Of the total amount of assets of Russian individuals and legal entities frozen in the EU, about a third is blocked in Luxembourg. 5.5 out of 17 billion euros of Russian assets were frozen in Luxembourg as a result of EU sanctions after the invasion of Ukraine," the report says.

Asselborn also stated that if Russia’s behavior doesn’t change, further sanctions are inevitable. He stressed the importance of the EU not jeopardizing its current unity. According to the minister, there can be "no neutrality" regarding Russia's war against Ukraine.

Read also: Zelensky, von der Leyen discuss macro-financial assistance to Ukraine for 2023

Luxembourg has supplied Ukraine with weapons, material and technical means in the amount of more than EUR 72 million, which corresponds to 16% of the country's total defense budget.

As reported earlier, EU member states have already frozen about EUR 17.5 billion belonging to Russian individuals and legal entities that have come under sanctions.

Also, the European Union, the United States, and other allies have frozen $300 billion worth of reserves of Russia’s central bank.

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2024 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-