Over €0.5bn of Russian assets unfroze in Netherlands

By bne IntelliNews October 9, 2024

Frozen Russian assets held by Dutch banks and other financial institutions declined to €97mn from €660mn in January 2024, Tass reports citing De Telegraaf.

The numbers are provided in a report sent to parliament by Dutch Foreign Minister Caspar Veldkamp. The publication concludes that "Russian assets worth more than half a billion euros were apparently released with the approval of the ministry." 

Such a release is made possible by granting payment exemptions or suspension of sanctions for the company owners. €230mn of one single unnamed company was released because it "formally distanced" from its Russian owner, according to the report.

Related Articles

Russian Bank Saint Petersburg to pay over 50% of profit in dividends

Russian Bank Saint Petersburg (BSPB) announced paying RUB29.72 dividend per share for 2H24, implying full-year payout of RUB56.98 per share, according to Renaissance Capital citing supervisory board ... more

Russian T-Technologies banking group posts 30% ROE in 2024

Net IFRS profit of Russian T-Technologies (former TCS) banking group reached RUB38.7bn ($518mn) in 4Q24, making RUB122.2bn ($1.63bn) in profit for full-year 2024 and a return on equity (ROE) of ... more

Presidents of Russia and Guinea-Bissau sign resource deal in Moscow talks

Russian President Vladimir Putin hosted his counterpart from Guinea-Bissau, Umaro Sissoco Embaló, in Moscow on February 27, marking the latest effort by the Kremlin to expand ... more

Dismiss