Luxembourg froze Russian assets for 4.3 billion euros/Collage of Channel 24
In Luxembourg, banks are freezing the monetary assets of Russian citizens who are under sanctions. Approximately 100 people cannot get their money back.
Banks and other financial institutions in the Grand Duchy of Luxembourg have already frozen almost 4.3 billion euros of assets of Russians and their companies that fell under sanctions.
The Luxembourg Ministry of Finance said that Russia's full-scale invasion of Ukraine in February led to a number of financial penalties from the European Union, the US, the UK and other countries. Luxembourg has also joined the sanctions – almost a hundred Russian citizens who have been subjected to economic restrictions cannot receive their money and transfer assets.
The assets include bank deposits and securities of more than 90 people and 1,100 legal entities identified through Luxembourg's business and company registries, Luxembourg's Finance Ministry Yuriko Bakes said. Russian assets worth 2.5 billion euros. After the release of this information, the local opposition expressed doubt that the Luxembourg government blocked all the wealth of Russian oligarchs and the assets of their companies.
On Tuesday, a parliamentary committee met with Finance Minister Yuriko Baques to review Luxembourg's implementation of the sanctions and their possible impact on the country's financial sector.
Luxembourg's legislation obliges the ministries of finance and justice, supervisory authorities and self-regulatory organizations to monitor compliance with the sanctions.< /p>
During the entire period of Russia's full-scale war against Ukraine, Luxembourg has already frozen 4.3 billion euros of Russian oligarchs.
What else is under sanctions in Luxembourg
- Under sanctions there is at least one Luxembourg-registered aircraft owned by Russian oligarch Roman Abramovich. The Gulfstream G650ER LX-RAY jet bearing, believed to be worth approximately $60 million, is operated by Global Jet Luxembourg, based in the village of Esperange.
- Abramovich's second Boeing 787-8, worth approximately $350 million, also was arrested by a US judge, according to the US Department of Justice on Monday.
