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Over 500 million euros of frozen Russian assets released in the Netherlands – reports

Over 500 million euros of frozen Russian assets released in the Netherlands – reports

More than half a billion euros in frozen Russian assets of Dutch banks and other financial institutions have apparently been released, De Telegraaf reported.

The newspaper cited a report by Dutch Foreign Minister Caspar Veldkamp to the lower house of parliament that said 97 million euros of frozen Russian private assets were being held in the Netherlands.

“This amount is well below the 660 million euros reported to your chamber in January,” the July 1 report said.

De Telegraaf concluded that “more than half a billion in Russian assets appear to have been released.” [foreign] Approval of the Ministry.”

Such an exemption is made possible by granting payment exemptions or sanctions suspensions for the company owners.

In one case, 230 million euros in frozen assets of an unnamed company were released because it “formally distanced itself” from its Russian owner, the report said.

This article was originally published by bne IntelliNews.

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