Luxembourg freezes €4.3 billion in Russian assets of companies and individuals

Luxembourg freezes €4.3 billion in Russian assets of companies and individuals Credit: Creative Commons

Luxembourg has confirmed the exact amount of Russian assets it currently has frozen as a means of sanction due to the ongoing war with Ukraine.

The total of Russian assets frozen by Luxembourg comes to a grand total of  €4.267 billion, with this estimate including finances in both bank accounts as well as properties owned by companies and private individuals, as reported by RTL.

The list of EU sanctions covers 90 private individuals and an estimated 1,100 legal entities on company registers.

The figures were confirmed by the Yurijo Backes, the Minister for Finance to the monitoring committee, at an update meeting to revise the current situation of sanctions.

The news of Luxembourg’s frozen Russian assets follows Japan reporting it is set to introduce new sanctions on the Russian Agricultural Bank, the Credit Bank of Moscow and the Belarusian Bank for Development and Reconstruction, as stated by the Foreign Ministry of Japan on Tuesday, June, 7.

The new sanctions by Japan on two Russian banks and one Belarusian bank will come in to force from July, 7, with payments and transactions with the banks only permitted through Japanese authorities.

The Foreign Ministry of Japan also spoke of good that “contribute to the buildup of industrial infrastructure” will also be taken into account for a potential export ban, however, the specifics of these products have not yet been shared.

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Joshua Manning

Originally from the UK, Joshua is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at