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.

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