Luxembourg froze 5.5 billion euros of Russian assets

Luxembourg’s Foreign Minister Jean Asselborn said during his speech in parliament on November 8, 2022, that Luxembourg has frozen 5.5 billion euros of Russian individuals and legal entities, which is about a third of all Russian assets blocked on the territory of the European Union.

Source: The Minister of Foreign Affairs of Luxembourg Jean Asselborn

“As much as €5.5 billion ($5.54 billion) of the total €17 billion of Russian assets frozen in the wake of EU sanctions as a result of the war in Ukraine are in Luxembourg,” explained the Minister of Foreign Affairs of Luxembourg Jean Asselborn.

According to the Minister, there can be “no neutrality” regarding Russia’s war against Ukraine.

“If Russia does not give in, then further sanctions are inevitable,” noted Luxembourg’s Foreign Minister.

Jean Asselborn believes that the EU must not jeopardize its existing unity.

“Those who do not condemn Russia accept the law of the strongest: history will decide who was on the right side,” concluded Jean Asselborn.

See also: Luxembourg has allocated 15% of the defense budget to support the Ukrainian army, – The President of Ukraine

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