Sector · Regulation

Luxembourg freezes 2.5 billion euro in Russian assets

Luxembourg's Finance Minister Yuriko Backes addressing the parliament on Tuesday. Photo: Luxembourg Finance Ministry.

Luxembourg has frozen some 2.5 billion euro in Russian assets, mostly held in shares, bonds and bank accounts, as part of the international sanctions against Russia, its finance minister told a parliamentary committee on Tuesday.

The frozen funds relate to sanctions that have been imposed since Russia’s invasion of Ukraine on 24 February and do not consider sanctions that existed beforehand, the minister said. 

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