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Thursday, June 8, 2023

The Luxembourg Ministry of Finance has unblocked Russian funds frozen due to sanctions.

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The Luxembourg Ministry of Finance has authorized the temporary unblocking of the assets of the Russian National Settlement Depot (NSD). This was reported on the department’s website.

The ninth EU sanctions package of 16 December provides the possibility of unblocking Russian assets. We are talking about funds necessary for unhindered trade in agricultural products and fertilizers.

The Dutch Ministry of Finance allows the assets of the building, which is ranked 101st on the list, to be released until January 7, 2023. Underneath is the National Settlement Repository.

In effect, this means the release of NSD’s assets frozen in the Euroclear system. This will allow entities not under European sanctions to withdraw their assets from this system.

Source: Riafan

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